The global connected game console market is anticipated to grow at a double-digit CAGR during the forecast period.
Valley Cottage, NY -- (SBWIRE) -- 10/25/2018 -- A report on the global connected game console market has been recently published by Future Market Insights (FMI). The report, titled, "Connected Game Console Market: Global Industry Analysis and Opportunity Assessment 2015 - 2020," anticipates the market to witness a vigorous growth trajectory over the coming years, on account of the rising popularity of real time and interactive gaming. The report authored by the market research company discusses the factors influencing the market, its constraints, and opportunities that the world market of connected game consoles is expected to face.
A computer game console is a gadget that yields a visual picture or a video signal to show a computer game. It is essentially a console machine principally intended for playing computer games as opposed to home PCs or arcade machines. Wii U, PlayStation 4, Leapt TV, Xbox One, Steam Machine and RetroN 5 are a few types of the leading consoles. The growing accessibility and prominence of multi-utility gaming console is the latest pattern rising in the market. A few advantages offered by the multi-utility consoles, for instance, empowering gamers for downloading recordings and videos, browse the web, tune in to music, and view videos all the while playing games, is relied upon to positively affect market development in the years to come.
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Mechanical progressions and development in a few varying media gadgets have essentially surged interest for these consoles. The rising accessibility of top of the line sound frameworks and presentations give a rich and enhanced experience to clients. Likewise, HDTVs with HDMI ports and innate remote availability, which can support external hard disks is additionally anticipated that would offer a better consumer experience.
Multi-utility highlights offered by the propelled game consoles, for instance, filling in as a gaming and in addition a stimulation console, may stimulate market demand. However, high costs related with such consoles may upset market growth. Rise of tablets and cellular phones as substitutes for gaming consoles is foreseen to fundamentally accelerate the industry development. Furthermore, moving consumer drift towards elective stages including web based games and versatile games may likewise pose a test to market rise in the following couple of years.
The worldwide connected console segment is sub divided into handheld and standalone connected consoles. Among these, home console commanded market in the year 2014. Interestingly, the handheld sub section represented more than 40% share of the worldwide connected console market segment in 2014. The market can be classified, on the basis of product type, into connected console and service. Out of these sections, connected console represented more than 30% of the worldwide connected game console market share in 2014.
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The growth of the worldwide connected game console market is for the most part determined by rising expenditure on games, growing incomes, incrementing broadband penetration and developing innovation and technical advances. Additionally, the trend that takes after with the development of connected game console market are game on demand, virtual reality gaming and convergent entertainment systems.
Some of the significant players participating in the global connected game console market are NVIDIA Corporation, Nintendo Co. Ltd, Sony Corporation and Microsoft Corporation.