Connected Game Console Market Analysis and Forecast 2020: By Keyplayers Microsoft Corporation, NVIDIA Corporation, Sony Corporation, Nintendo Co. Ltd., Valve Corp., OUYA Inc., PlayJam, Mad Catz, and BlueStacks.

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Market Overview

A video game console refers to a computer device that allows one or more people to play the video game. The term video game console is majorly used to distinguish a console machine to play video games in contrast to arcade machines or home computers. There are various types of video game consoles including handheld game consoles, dedicated consoles, home video game consoles, and micro-consoles. Connected game consoles have evolved significantly over the past, with availably of Wi-Fi connectivity, better graphics, and higher definition image quality. The global connected game console market focuses on seven regions namely North America, Western Europe, Japan, Asia Pacific, MEA, and Latin America.
The global Connected Game Console Market was accounted for US$ 13,818.1 Mn in terms of value in 2019 and is expected to grow at CAGR of 11.5% for the period 2020-2027.

Competitive Section

Key players operating in the global connected game console market are Microsoft Corporation, NVIDIA Corporation, Sony Corporation, Nintendo Co. Ltd., Valve Corp., OUYA Inc., PlayJam, Mad Catz, and BlueStacks.

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Market Dynamics-Drivers

1. Rising expenditure on games is expected to drive growth of the global connected game console market during the forecast period

Consumer expenditure on games and gaming equipment has increased significantly in the recent past. Furthermore, consumers are increasingly spending on different video game accessories such as controllers, light guns, joysticks, and more. According to Coherent Market Insights’ analysis, North America held the dominant position in the global video games market in 2014, accounting for US$ 15 billion in terms of revenue. Thus, these factors are expected to drive growth of the global connected game console market during the forecast period.

2. Increasing broadband penetration worldwide is expected to propel the global connected game console growth over the forecast period

Broadband penetration has increased worldwide, especially in developed countries such as the U.S. and Canada. As a result of this, the demand for gaming consoles has increased with connected game console providers pushing sales of connected game consoles. According to the International Telecommunication Union (ITU) report 2013, in developed countries, around 77% of the total population has access to the internet as compared to 7% in emerging economies.
Furthermore, according to the same source, Europe reported the highest broadband penetration of 75% followed by North America and Latin America with 61%. Hence, rising broadband penetration is expected to propel the global connected game console growth in the near future.

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Statistics:

North America held dominant position in the global Connected Game Console market in 2019, accounting for 43.7% share in terms of value, followed by Europe and Asia Pacific, Latin America and Middle East and Africa respectively

Market Opportunity

1. Rising investments in research and development activities can present lucrative growth opportunities

Game console manufacturers are focused on research and development activities and investing substantially, in order to introduce innovative features in their consoles. With this, market players can capitalize on opportunities and gain a sustainable advantage over their competitors and enhance their consumer base. For instance, in 2013, in 2013, Microsoft Corporation’s R&D investment was valued at US$ 9.8 Bn.

2. Constant collaboration and partnership activities can offer major business opportunities for market players

Key companies in the market are focused on collaboration and partnership activities, in order to enhance their market presence. For instance, in 2014, Nintendo collaborated with Yoplait USA, Inc., a yogurt providing company to place characters such as Mario, Luigi, Peach and Bowser on the side of Yoplait’s Petits, Filous, and Frubes products. The objective of this collaboration was to enhance the company’s visibility in the market.

Market Trends

1. The advent of virtual reality gaming

Virtual reality (VR) gaming has gained significant popularity among consumers in the global connected game console market. VR gaming offers enhanced experience of gaming with a virtual environment wherein gamers can interact with the game though body and hand motions. This trend is expected to continue during the forecast period. For instance, in 2014, Sony Computer Entertainment Inc. introduced Project Morpheus’, a system that allows for VR gaming on the PS4.

2. Rising trend of convergent entertainment system

Connected game console offers enhanced entertainment features such as video streaming, Blu-ray DVD video playback, and internet browsing. Moreover, it also allows access to video streaming services such as Netflix and YouTube.

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Detailed Segmentation:

• Global Connected Game Console Market, By Product Type:
◦ Connected Console
▪ Stand Alone Console
▪ Handheld
◦ Service
▪ Prepaid Services
▪ Other Direct Services

• Global Connected Game Console Market, By Region:
◦ North America
◦ Latin America
◦ Europe
◦ Asia Pacific
◦ Middle East and Africa

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This release was published on openPR.