CONNECTED GAME CONSOLE MARKET ANALYSIS

Connected Game Console MarketSize and Trends

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.

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.