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Gaming Console Market Size, By Type (Home Console, Handheld Console [Portable, Non-portable]), By Application (Gaming, Non-gaming), By End-use (Residential, Commercial), COVID-19 Impact Analysis, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2021 – 2027

  • Report ID: GMI5151
  • Published Date: Nov 2021
  • Report Format: PDF

Industry Trends

Gaming Console Market Size exceeded USD 20 billion in 2020 and is projected to grow at a CAGR of over 8% from 2021 to 2027. The global industry shipments are estimated to cross 90 million units by 2027.

Gaming Console Market Overview

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The global market is witnessing rapid expansion due to the introduction of innovative audio-visual technologies. The market is showcasing technological breakthroughs and innovation in various audio-visual devices owing to which the gaming industry is introducing robust gaming consoles & accessories. HD TVs featuring High-Definition Multimedia Interface (HDMI) connections and built-in wireless connectivity, followed by the capacity to handle external hard drive provides an enhanced gaming experience.

Companies operating in the market are shifting toward Ultra-High-Definition TV (UDHDTV) and Full High-Definition TV (FHDTV) to support various resolutions including 4K, DCI 4K, and 8K displays. Industry leaders are introducing innovative gaming consoles that are compatible with such resolution capabilities, boosting the overall market growth.

COVID-19 moderately impacted the market credited to the sudden and unplanned lockdown. Owing to the pandemic, various sports events were canceled, and sports fans switched to e-sports, virtual game tournaments & online gaming platforms. This increased the demand for innovative gaming consoles and accessories to create an immersive multi-player gaming environment.

The gaming market registered an increase in the number of league contests for various e-sports titles and virtualized versions of sports, resulting in a rise in the number of users as virtual zones helped gamers to interact, engage & compete. The pandemic accelerated customer acquisition and engagement, supporting the overall industry growth.


Increasing demand for home gaming consoles in the U.S. is offering strong growth opportunities to the market

The U.S. home gaming console market is poised to showcase 8% growth rate through 2027 led by its ability to provide users a better gaming experience. The home consoles segment growth is attributed to various features including online multiplayer gaming experience and cloud support. Home gaming consoles available in the market are compatible with different resolutions and provide an advanced graphical output that is unmatched by other alternative platforms.

The motion-sensing capabilities of home gaming consoles provide a dynamic gaming experience to various end-users, aiding the overall industry expansion. The U.S. market is observing a high demand for gaming consoles attributed to the availability of enhanced updates/options, a wide range of selection choices, and robust product developments.

Growing penetration of content integration consoles in South Korea will support the market progression

Gaming Console Market Size

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The South Korea market is expected to attain a CAGR of 10% till 2027 impelled by the high demand for content integration with non-gaming consoles. Multi-functionality gaming consoles are used to browse various applications, which is aiding the overall industry demand. The main dashboard of the gaming system acts as an application organizer and launcher for the smooth functioning of a console.

The screen displays the application icons available for launch, which includes the Internet Browser for the World Wide Web, play media through Netflix, Amazon, YouTube, and many more. Non-gaming consoles can be seamlessly integrated with various platforms to browse the Internet, stream videos, play music, browse applications, and post content on various social media platforms. The launch of advanced gaming consoles based on both gaming and non-gaming applications will help the market expansion.


Rising popularity of gaming accessories & smart televisions to support the market value for residential purposes

The residential segment dominated more than 60% of the market share in 2020 on account of the high availability of gaming console controllers and accessories. Various market players, such as Razer Inc., Microsoft Corporation, and Sony Corporation, are offering advanced accessories including headsets, charging docks for controllers, gaming mouse, rechargeable battery packs, full-size racing wheels with pedals, curved monitors, keyboards, and microphones. These offerings increase comfort and offer a dynamic gaming experience.

The market is witnessing high growth credited to the introduction of smart TVs that offer optimized picture & sound, convenient connection, and low input lag. Gaming TVs include a function called game mode, which automatically adjusts the essential features, such as image and sound, to ideal levels while reducing input latency to a minimum.


Increase in demand for 3D gaming in Europe to support the market revenue

Europe Gaming Console Market

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Europe gaming console market held for 33.7% of revenue share in 2020. The easy availability of 3D gaming hardware and software in the region offers a competitive edge. New features and the adoption of modern technologies including multi-screen displays, motion sensors, and intelligent connectivity that give players a more real-time and engaging game experience are propelling the development of the 3D gaming consoles.

These video game consoles can handle stereoscopic three-dimensional gaming on either integrated or auxiliary monitors. Such graphics provide the best sense of surface textures in the gameplay area by creating the feeling of depth. In the gaming industry, 3D gaming consoles offer precise spatial localization, which enhances the immersive experience of the gameplay.

Development of technologically advanced gaming consoles with accessories forms a key strategy amongst market players

Key companies operating in the market include Corsair Components Inc., Logitech, Mad Catz Global Limited, Microsoft Corporation, NEC Corporation, Nintendo, NVIDIA Corporation, Panasonic Corporation, Razer Inc., Samsung Electronics Corporation, Sega Corporation, Sony Corporation, and Valve Corporation.

Market leaders are developing new gaming consoles with advanced technology-based accessories to enable a high-quality and low latency gaming experience. These developments help in fast charging for minimum gaming downtime, reducing unwanted background noise, and improving frequency separation.

The gaming console market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue in USD and shipments in Million Units from 2017 to 2027 for the following segments:

Market, By Type

  • Home console
  • Handheld console
    • Portable
    • Non-portable

Market, By Application

  • Gaming
  • Non-gaming

Market, By End-use

  • Residential
  • Commercial

The above information has been provided for the following regions and countries:

  • North America
    • U.S.
    • Canada
  • Europe
    • UK
    • Germany
    • France
    • Italy
    • Spain
    • Russia
  • Asia Pacific
    • China
    • India
    • Japan
    • South Korea
    • Singapore
    • Australia
  • Latin America
    • Brazil
    • Mexico
    • Argentina
  • MEA
    • GCC
    • South Africa
Authors: Preeti Wadhwani, Saloni Gankar

Frequently Asked Questions (FAQ) :

The market size of gaming consoles surpassed USD 20 billion in 2020 and it will expand at a CAGR of 8% between 2021 and 2027 owing to the introduction of innovative audio-visual technologies.

Home gaming consoles market size in the U.S. will exhibit a growth rate of 8% up to 2027 driven by the benefit of multiple features such as cloud support and online multiplayer gaming experience.

South Korea gaming consoles market is anticipated to register a CAGR of 10% through 2027 propelled by the high demand for content integration with non-gaming consoles.

Europe market accounted for nearly 33.7% of revenue share in 2020 and will grow with the easy availability of 3D gaming software and hardware in the region.

Major companies across the industry include Nintendo, Corsair Components, Inc., Microsoft Corporation, Sony Corporation, Logitech, Panasonic Corporation, Mad Catz Global Limited, Sony Corporation, NVIDIA Corporation, and others.

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Premium Report Details

  • Base Year: 2020
  • Companies covered: 11
  • Tables & Figures: 559
  • Countries covered: 19
  • Pages: 350

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