Valley Cottage, NY -- (SBWIRE) -- 11/29/2016 -- Future Market Insights (FMI) delivers key insights on the Global Connected Game Console Market in its upcoming report titled "Connected Game Console Market: Global Industry Analysis and Opportunity Assessment 2015 - 2020". The global connected game console market is projected to register a healthy double-digit CAGR of 11.5% during the forecast period due to various factors, regarding which FMI offers vital insights in detail in its report.
On the basis of product type, the market has been segmented into connected console and service. The service segment accounted for over 65% share of the global connected game console market in 2014, and is expected to register double-digit CAGR similar to that projected for the global connected game console market over the forecast period. Furthermore, service segment was dominant among the two segments, accounting for 68.1% share of the global connected game console market in 2014.
The connected console segment is sub-segmented into standalone console and handheld console. Revenue contribution of standalone console was 54.3% in 2014, and is projected to grow to 75.7% by 2020, witnessing an increase of 2,140 Basis Point Share and registering a double-digit CAGR of 10.9%.
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Service segment is sub-segmented into prepaid and other direct services. The other direct services sub-segment is expected to register higher CAGR between 2015 and 2020 as compared to the prepaid sub-segment. The prepaid service sub-segment accounted for over 80% market share in 2014, but is expected to lose its dominance to other direct service sub-segment by 2020.
Growth of the global connected game console market is mainly driven by rising popularity of online gaming platform, growing disposable income, increasing broadband penetration, increasing promotional activities and growing technological advancements. Other trends driving growth of the connected game console market include game on demand services, convergent entertainment system and adoption of new technologies such as virtual reality gaming.
This report covers trends driving each segment and respective sub-segments and offers analysis and insights of the potential of the connected game console market in specific regions. North America dominated the connected game console market with over 45% market share in 2014, and is anticipated to remain dominant by 2020. Western Europe and Japan collectively accounted for over 30% of the total connected game console market share in 2014. Among all the regions, Asia Pacific is anticipated to register the highest CAGR between 2015 and 2020, followed by Latin America due to increasing broadband Internet penetration and promotional activities within these region.
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Key players in the global connected game console market include Microsoft Corporation, Sony Corporation, Nintendo Co. Ltd. and NVIDIA Corporation. Major participants such as Microsoft and Sony Corporation focus on research and development activities to innovative features in their game consoles in order to attain a sustainable advantage over the competition. In addition, these key players also focus on expanding exclusive game title portfolio through acquisition of various game studios with the objective to enhance customer base. In 2014 for example, Microsoft Corporation acquired Mojang AB – a game developer company – in order to include Mojang AB's Minecraft game in Microsoft's gaming portfolio. Apart from the above mentioned strategies, these major players also focus on promotional activities and partnerships with various major game developers.