The console games market size has experienced robust growth in recent years, rising from $77.47 billion in 2023 to $83.85 billion in 2024 at a compound annual growth rate (CAGR) of 8.2%. The growth in this period is attributed to the impact of exclusive titles, digital distribution platforms, the expansion of gaming genres, and the introduction of home consoles, along with the emergence of iconic game titles. The market is projected to continue its expansion, reaching $115.59 billion in 2028, growing at a CAGR of 8.4%. This growth is primarily driven by the transition to next-generation consoles, subscription-based gaming services, cloud gaming platforms, integration of virtual reality (VR), and an ongoing emphasis on exclusive titles.
Major Driver In The Console Games Market
The predominant driving force behind the console games market is the exponential rise in the number of active gamers worldwide. By 2021, the global number of gamers is expected to reach 2.73 billion. Nielsen reports that 64% of the general population in the USA comprises gamers, indicating a significant market base. Additionally, the viewership of Esports, amounting to approximately 557 million in 2021, further contributes to the growth of the console games market. In 2023, the console games market recorded a valuation of $A billion and is projected to reach $B billion by 2024, further climbing to $C billion by 2028.
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Console Games Market Competitive Landscape
Apple Inc., Alphabet Inc., Microsoft Corporation, The Walt Disney Company, Tencent Holdings Limited, Sony Interactive Entertainment LLC, NetEase Inc., Valve Corporation, Nintendo Co. Ltd., Bandai Namco Entertainment Inc., Activision Blizzard Inc., Electronic Arts Inc., Epic Games Inc., Take-Two Interactive Software Inc., Square Enix Holdings Co. Ltd., Zynga Inc., Nexon Co. Ltd., Konami Holdings Corporation, Ubisoft Entertainment SA, NCSoft Corporation, Supercell Oy, Sega Corporation, Unity Technologies ApS, Capcom Co. Ltd., GungHo Online Entertainment Inc., Gameloft SE, Gearbox Software LLC, Midway Games Inc., Game Freak Inc., Telltale Inc., DeNA Co. Ltd., Mixi Inc., Glu Mobile Inc., Jam City Inc., Miniclip SA, Rovio Entertainment Corporation, Scopely Inc., Behaviour Interactive Inc., G5 Entertainment AB
Console Games Market Segmentation
The console games market covered in this report is segmented –
1) By Type: Digital Console Games, Online/Microtransaction Console, Physical Console Games
2) By Device: TV, Computer/PC, System Consoles
3) By Application: Shooter, Action, Sport Games, Role-Playing, Adventure, Racing, Fighting, Strategy, Other Applications
By Geography:The regions covered in the console games market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain
The Asia-Pacific was the largest region in the console games market share in 2023.
The Console Games Global Market Report 2024 furnishes information about the global console games market, encompassing details like market size, projections for growth, segmentation across various sectors and regions, and an overview of competitors, including their revenues, profiles, and market shares. Furthermore, the report pinpoints potential opportunities and strategic directions derived from market trends and the strategies adopted by key competitors. The report also offers an assessment of how the COVID-19 pandemic, the Russia-Ukraine conflict, and increasing inflation have affected both global and regional markets, furnishing valuable strategic insights for businesses.
