Global 3D Gaming Consoles Market - Segmented by Component (Hardware, Software), Console (Home Consoles, Hand Held Consoles, Micro Consoles, Dedicated Consoles), Platform (Microsoft Xbox, Sony PlayStation, Nintendo Wii), Technology (Xbox Illumiroom, Auto-stereoscopy, Leap Motion Technology, Polarized Shutter Technology, Compatible 3D Glasses), and Region - Growth, Trends, and Forecast (2018 - 2023)
The 3D gaming consoles market is expected to register a CAGR of 14.82% over the forecast period of 2018–2023.
3D gaming consoles are video game consoles, which can support stereoscopic gameplays on integrated displays. The stereoscopic images improve the experience of the gameplay and provide realism to it by creating the illusion of depth, and providing accurate structural localization, and offer a better feeling of surface materials in the gaming environment. The video game industry can grow from traditional 2D gaming to 3D gaming because of digital 3D display technologies, advanced gaming software tools and applications and gaming console accessories. 3D graphics games have commercialized the video games industry. 3D technology has successfully entered into home entertainment through 3D tv and personal computers. With manufacturers willing to provide more realistic and immersive experience to gamers, the interest in 3D gaming consoles is expected to grow in the forecast period.
Increasing Competition from Gaming PCs and Mobile Devices
In the early periods of 3D gaming, dedicated consoles were mostly preferred as they were readily available at public gaming zones at nominal charges on a pay-to-use policy. Increased number of console vendors in the market and marginally reduced prices of legacy home consoles, due to the introduction of advanced gaming equipment in the market, rocketed the penetration levels of home consoles.
Online gaming vlogs and multiplayer experience have taken the sales of gaming PCs and home consoles to a whole new level. However, in the recent times, with additional mods and gadgets like 3D vision glasses, graphics enhancers, and polarized monitors that allow a PC to run 3D games, the share of people tending towards 3D gaming consoles is falling rapidly. One of the significant factors affecting the decision of gamers is the high price of the 3D gaming consoles.
Asia-Pacific to Spearhead Growth
Asia-Pacific is the most massive revenue generating economy for the entire gaming industry. Countries, like China, Japan, Australia and South Korea are the prime gaming hot spots of the world, which are estimated to generate more than 40% of the gaming industry’s revenues annually. The region is estimated to have more than 1.5 billion active gamers creating a vast market for 3D gaming consoles in the region.
The easy availability of the 3D gaming hardware and software in the region, as most of the prime vendors like Nintendo are based in the region, provides the region with a competitive edge over others. With increasing penetration of home consoles and PC based gaming, the demand for 3D gaming consoles in the region is expected to grow exponentially in the near future.
Key Developments in the Market