Console Games Global Market Report 2024 - By Report, Share, Growth, And Analysis, Forecast To 2033

The console games market size has grown strongly in recent years. It will grow from $77.47 billion in 2023 to $83.85 billion in 2024 at a compound annual growth rate (CAGR) of 8.2%. The growth in the historic period can be attributed to impact of exclusive titles, digital distribution platforms, expansion of gaming genres, introduction of home consoles, rise of iconic game titles.

The console games market size is expected to see strong growth in the next few years. It will grow to $115.59 billion in 2028 at a compound annual growth rate (CAGR) of 8.4%. The growth in the forecast period can be attributed to transition to next-generation consoles, subscription-based gaming services, cloud gaming platforms, integration of virtual reality (vr), continued emphasis on exclusive titles. Major trends in the forecast period include narrative-driven games, environmental and social themes, accessibility and inclusivity, augmented reality (ar) integration, growth of esports.

Market Overview -
Console games are a form of interactive multimedia software that use a video game console to deliver an interactive multimedia experience through a TV or other display device.

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Rapid Increase In Active Gamers And Esports Viewers Drives Console Games Market Growth
The major driving force for the console games market is the rapid increase in the number of active gamers across the world. The number of the gamers is expected to reach 2.73 billion by 2021. According to Nielsen, 64% of the general population in the USA are gamers. Esports viewers would also significantly contribute to the growth of console games market as around 557 million people watched Esports in 2021.

Competitive Landscape -
Major companies operating in the console games market report are Apple Inc., Alphabet Inc., Microsoft Corporation, The Walt Disney Company, Tencent Holdings Limited, Sony Interactive Entertainment LLC, NetEase Inc., Valve Corporation, Nintendo Co. Ltd., Bandai Namco Entertainment Inc., Activision Blizzard Inc., Electronic Arts Inc., Epic Games Inc., Take-Two Interactive Software Inc., Square Enix Holdings Co. Ltd., Zynga Inc., Nexon Co. Ltd., Konami Holdings Corporation, Ubisoft Entertainment SA, NCSoft Corporation, Supercell Oy, Sega Corporation, Unity Technologies ApS, Capcom Co. Ltd., GungHo Online Entertainment Inc., Gameloft SE, Gearbox Software LLC, Midway Games Inc., Game Freak Inc., Telltale Inc., DeNA Co. Ltd., Mixi Inc., Glu Mobile Inc., Jam City Inc., Miniclip SA, Rovio Entertainment Corporation, Scopely Inc., Behaviour Interactive Inc., G5 Entertainment AB

Console Video Game Developers Embrace Subscription-Based Gaming Models
Console video game developers are adopting to subscription-based gaming. For example, Xbox Live and PlayStation Plus provide licenses for a few games on monthly rotation basis. The first major subscription program by EA was the EA Access on Xbox One which offered discounts on EA games, a limited number of hours of pre-release play, and a vault of back catalog offerings. Microsoft released a Netflix-style offering called Game-Pass, for its first-party games and several titles from third-party developers and publishers.

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Key Segments -
The console games market covered in this report is segmented -
1) By Type: Digital Console Games, Online/Microtransaction Console, Physical Console Games
2) By Device: TV, Computer/PC, System Consoles
3) By Application: Shooter, Action, Sport Games, Role-Playing, Adventure, Racing, Fighting, Strategy, Other Applications

Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics

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