Video Game Console Market Size, Share, Price and Manufacturers Analysis to 2021 by Million Insights

Global Video Game Console market is segment on the basis of product, application, and geography. A video game console displays a video signal or visual image about game and is generally a console machine. It is normally design for indoor users for playing video games in household computers or arcade machines. An arcade machine includes display, video game computer, game controller (buttons, joystick) and speakers; while a home computer is a personal computer specially designed for home use for different purposes such as accessing the internet, bookkeeping and playing video games.

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In today’s market, some examples of game consoles are Play Station 4, Wii U, Xbox One, RetroN 5, Steam Machine, and Leap TV. Increasing availability in the multi-functional video game consoles is the current trend rising in the market. Introduction of new and advanced audiovisual devices contribute to the growth of the video game console market. Technological advancements and modernization in some audiovisual devices have considerably increased the demand for video game consoles.

The factors that play an important role in the video game console market are internet surfing, enabling users to download videos, listening to music, and watching videos simultaneously while playing video games. Video games are easily available in the market along with high penetration of PCs across the globe. The increasing popularity of tablets and smartphones has revolutionized the video game console market with an increasing number of gamers. Rising availability of high-end sound systems and displays provide a rich and improved experience to users.

Based on product, the video game console market is classify as handheld game consoles, home video game consoles, micro consoles, dedicated consoles, TV game consoles, and so on. The segment “TV game consoles” holds the highest share of the video game console market; while “handheld game console” accounts for the remaining share. TV gaming console suggests users a better gaming experience owing to the technological advancements in RAM and GPU. Based on application, the video game console market is classify as household use, commercial use, and so on. Based on geography, the video game console market is classify as Europe, Asia Pacific, North America, Latin America, and Middle East & Africa.

Asia Pacific holds a large share in terms of profits and shipments in the video game market followed by North America. This could be attribute to the increasing number of gamers in the region. Latin America is expect to grow highest CAGR in the next couple of years. Also, Europe is projected to exhibit reasonable growth and account for the major market share in the years to come. Key players operating in the video game console industry are Microsoft Corporation, Sony Computers Entertainment Inc., Mad Catz, Nintendo Co. Ltd., OUYA Inc., Playskool, Navidia, Jakks, Pacific, Retrobit, Envizions, LeapFrog, Lenovo, Vtech, Tommo and Atgames.

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