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Pune, Maharashtra -- (SBWire) -- 01/15/2020 --Console Games Market:

Executive Summary

Video games have come a long way from being black and white small applications to a billion dollar industry that churns out top quality games in all genres. A gaming console is a device that can be used to play video games by connecting it to a television set or an audio/video system. Console games are created specifically for use by these gaming consoles and depending on the quality of the console used, the images, video, and audio of the game vary.

The number of active gamers globally has increased in the past decade. It was estimated that in 2017, there were 2.21 billion gamers who played console games worldwide and in 2021, this number is projected to increase to 2.73 billion. The people who watch Esports also contribute to the growth of this market. According to a Nielsen study, about 557 million people worldwide will watch Esports by the year 2021 and this will directly affect this market too.

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The global market value of the console games industry was USD 26.81 billion in 2018 and this number is set to increase to USD 31.49 billion by the year 2022. There will also be a CAGR growth of 4.1%. This report sets to identify the fastest growing markets in the economy and the regions that would dominate in terms of production and consumption of these games. The market size and market growth rate globally, regionally, and key player wise are discussed too.

Major players in the market are Tencent Games, Sony Interactive Entertainment, Microsoft Studios, Activision Blizzard and EA.

Market Segmentation

There are three common types of console games available in the market. The report identifies the demand and the sales volume of digital console games, physical console games, and online/microtransaction console games. Subscription based gaming is a type that is showing high growth in the past years. Mobile/tablet based gaming is a type that does not need external consoles to play with and this is also a fast growing segment. The segregation of the market based on the application areas is also analyzed. Genres like shooter, action, racing, fighting, strategy, and sports games are discussed in the report.

Regional Analysis

Regionally, the Asia Pacific, Western and Eastern Europe, North and South America, Africa and the Middle East are included in this report for analysis. Out of these, the Asia Pacific console games market is posed to do very well in the coming years. This market has also dominated the industry in the past. North American market, especially the United States of America will do quite well too. A Nielsen report mentions that about 64% of the general population in America are gamers. This number is only projected to increase in the future. The key players in these markets and their new product launches and expansion plans are also included in the study.

Industry News

The Black Friday sales of the Microsoft store will run from November 24th to December 2nd, 2019 and the company is planning to offer its biggest ever discounts on Xbox One consoles in London.

Continuous…

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