Gaming Console Market Report 2022-2027, Size, Share, Growth, Trends and Forecast

According to IMARC Group's latest report, titled Gaming Console Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027," Offers a comprehensive analysis of the industry, which comprises insights on gaming console market report.

We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.

The global gaming console market reached a value of US$ 36.84 Billion in 2021. Individuals utilise gaming consoles, which are electrical devices, to play video games. They have an operating system, user control interface, random-access memory (RAM), power supply unit (PSU), and central processor unit (CPU). Compared to their traditional equivalents, they offer an immersive gaming experience and are inexpensive, simple to install, and to operate. Modern gaming consoles are being introduced by manufacturers with built-in displays, voice control, gesture recognition, wireless controllers, and internet access to facilitate live streaming.

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Market Trends

One of the main drivers of market expansion is the growing use of gaming consoles with multiple functions, along with the rising demand for three-dimensional (3D) video games with virtual reality (VR) and augmented reality (AR) capabilities. Additionally, a notable increase in the gaming industry's use of the internet of things (IoT) is fueling market expansion. Leading players are also predicted to put more money into creating and releasing technologically advanced, high-performance gaming consoles, which would propel the market. Looking forward, IMARC Group expects the market to reach a value of US$ 48.14 Billion by 2027, exhibiting a CAGR of 5.0% during 2022-2027.

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The report has segmented on the basis of phase, type, application, end use and geography

Breakup by Type:

Home Consoles
Handheld Consoles
Hybrid Consoles
Dedicated Consoles
Others

Breakup by Applications:

Gaming
Non-Gaming

Breakup by End Use:

Residential
Commercial

Breakup by Geography:

North America (U.S. & Canada)
Europe (Germany, United Kingdom, France, Italy, Spain, Russia, and Others)
Asia Pacific (China, India, Japan, South Korea, Indonesia, Australia, and Others)
Latin America (Brazil, Mexico)
Middle East & Africa

Competitive Landscape:

The competitive landscape of the industry has also been examined along with the profiles of the key players being Advanced Micro Devices Inc., Atari VCS LLC., Bandai Namco Studios Inc., Microsoft Corporation, Nintendo Co. Ltd., NVIDIA Corporation and Sony Group Corporation.

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IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

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