Connected Game Console Market (1)

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• Coherent Market Insights
• Market Research and Business Consulting Services
• https//www.coherentmarketinsights.com/
• COVID-19 Impact Tracker

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CONNECTED GAME CONSOLE MARKET ANALYSIS

• Connected Game Console Market, By Product Type
  (Connected Console (Stand Alone Console and
  Handheld), Service (Prepaid Services and Other
  Direct Services) and by Region (North America,
  Latin America, Europe, Asia Pacific, Middle East
  and Africa) - Size, Share, Outlook, and
  Opportunity Analysis, 2020 - 2027

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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.
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• Market Dynamics-Drivers
• 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.

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• 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.
• 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

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Figure 1 Global Connected Game Console Market
Share (), in terms of Value, By Region, 2019
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• Market Dynamics- Restraint
• High cost of game console is expected to hamper
  the global connected game console market
  growth during the forecast period
• Although consumer expenditure has increased over
  the years, the prices of game consoles have risen
  similarly. With the introduction of new
  technologies and upgraded versions of consoles,
  the price of connected game consoles is
  increasing too. Therefore, these factors are
  expected to hamper the global connected game
  console market growth in the near future.
• Rising threat from smartphone gaming is expected
  to restrain growth of the global connected game
  console market during the forecast period
• Smartphone gaming is increasing rapidly across
  the globe, especially in emerging economies. Game
  development time for mobile games is far lesser
  than that for game consoles. Moreover, most
  mobile games are available for free or cost
  substantially lesser than those for game
  consoles. This is affecting growth of the market
  to some extent. According to the Ericsson
  Mobility Report, smartphone ownership was
  reported at 1.3 billion in 2012 and is expected
  to grow to 5.6 billion by 2019. Thus, these
  factors are expected to hinder the global
  connected console market in the near future.

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• Market Opportunity
• 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 Corporations RD
  investment was valued at US 9.8 Bn.
• 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 Yoplaits Petits, Filous,
  and Frubes products. The objective of this
  collaboration was to enhance the companys
  visibility in the market.

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Figure 2 Global Connected Game Console Market
Value (US Mn), 2017 - 2027
The global Connected Game Console market was
valued at US 13,818.1.4 Mn in 2019 and is
forecast to reach a value of US 33,30,1.3
Mn by 2027 at a CAGR of 11.5 between 2020 and
2027.
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• Market Trends
• 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.
• 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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• 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.
• Key Developments
• Key companies in the market are focused on
  partnership and collaboration activities, in
  order to enhance the market presence. For
  instance, in May 2019, Microsoft Corporation
  collaborated with Sony Corporation for video
  games in the cloud where Sonys current services
  will be delivered using the Microsoft Azure data
  center platform.
• Major market players are involved in product
  launches, in order to expand the product
  portfolio. For instance, in February 2020, NVIDIA
  Corporation introduced affordable GeForce Now
  Cloud Gaming Service with 30 free-to-play games
  available.

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