About Gaming Console
Gaming console is a specialized computer that is designed for interactive video gameplay and display services. A video game console functions like a PC, and it is built with the same components such as a CPU, a GPU, and RAM. Consumers play the game through a controller, which can be a handheld device with buttons, joysticks, or keypads. The video output and sound output are delivered through a TV or a similar audio-visual system.
Technavio’s analysts forecast the global gaming console market to decline at a CAGR of (1.23%) during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global gaming console market for 2017-2021. To calculate the market size, the report considers the revenue generated by the sales of gaming consoles. The report also presents the vendor landscape and a corresponding detailed analysis of the top four vendors in the market.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Gaming Console Market 2017-2021
Technavio recognizes the following companies as the key players in the global gaming console market: Microsoft, Nintendo, Sony, and Razer.
Other Prominent Vendors in the market are: NVIDIA, OUYA, and Tommo.
Commenting on the report, an analyst from Technavio’s team said: “One trend in the market is vendors are manufacturing multipurpose gaming consoles. The demand for multifunctional devices is high in the present global gaming console market. An electronic device should not only serve as a source for gaming, but it should also have connectivity features. Multifunctional gaming consoles are not just gaming platforms; they can also be used to watch videos, listen to music, and browse the Internet.”
According to the report, one driver in the market is enhanced features of next-generation gaming consoles. Despite the fact that an average gamer uses gaming consoles for nearly a decade, the next generation of gaming consoles are released every five years (on an average). The major reason for this is the increased consumer demands as the consumers look forward to enriched audio and visual experience for gaming. The increasing disposable incomes have made the gamers able to afford high-end display and TV sets. The HD displays, along with HDMI and wireless network compatibility, have increased the expectations of the gamers.
Further, the report states that one challenge in the market is low penetration of gaming consoles in the E-sports market. In of revenue generation, the gaming console segment is the largest segment of the global gaming market. However, when it comes to E-sports, the impact of gaming consoles is limited. Apart from a small share of fighting and sports genres, in which the emphasis on one-on-one gaming is high, the penetration of gaming consoles is extremely low in E-sports. Compared with the popularity of gaming genres such as MOBA and FPS, the market share of console gaming is negligible as console gaming does not generate high viewership.
Microsoft, Nintendo, Sony, Razer, NVIDIA, OUYA, and Tommo.
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