According to a new report, published by KBV research, The Global Gaming Console Market size is expected to reach $92.54 billion by 2031, rising at a market growth of 17.3% CAGR during the forecast period. In the year 2023, the market attained a volume of 80,266.6 thousand units, experiencing a growth of 9.1% (2020-2023).
The Handheld Console segment is experiencing a CAGR of 18.1% during (2024 - 2031). Devices like the Nintendo Switch (portable mode) and Valve Steam Deck cater to a niche audience that values gaming on the go without compromising on performance. Handheld consoles have become particularly appealing in regions with a high demand for mobile entertainment and among casual gamers who prefer flexibility in their gaming experiences. Although the revenue generated by handheld consoles was lower than that of home consoles, their continued innovation and appeal in specific market segments underscore their importance in the gaming ecosystem.
The Residential segment is leading the Global Gaming Console Market by End-use in 2023; thereby, achieving a market value of $74.47 billion by 2031. This segment encompasses gaming consoles purchased for personal or household use, catering to a diverse audience ranging from casual to hardcore gamers. The growth of this segment has been significantly influenced by the increasing prevalence of gaming as a mainstream entertainment option, as well as the availability of high-performance home consoles and engaging multiplayer experiences.
The Non-Gaming segment exhibits a CAGR of 18% during (2024 - 2031). Modern gaming consoles increasingly serve as multifunctional devices, offering capabilities beyond gaming, such as streaming movies and TV shows, browsing the internet, and accessing fitness or educational apps. This versatility has made consoles appealing to non-gaming audiences, particularly households looking for all-in-one entertainment solutions. The integration of media streaming services like Netflix, Disney+, and Spotify has also driven adoption in the non-gaming segment.
Full Report: https://www.kbvresearch.com/gaming-console-market/
The Asia Pacific region dominated the Global Gaming Console Market by Region in 2023; thereby, achieving a market value of $39.54 billion by 2031. The North America region is expected to witness a CAGR of 16.5% during (2024 - 2031). Additionally, The Europe region would register a CAGR of 17% during (2024 - 2031).
By Type (Volume, Thousand Units, USD Billion, 2020-2031)
By End-use (Volume, Thousand Units, USD Billion, 2020-2031)
By Application (Volume, Thousand Units, USD Billion, 2020-2031)
Unique Offerings 
