The Gaming Console Market is Predict to reach USD 92.54 Billion by 2031, at a CAGR of 17.3%

Gaming Console Market Growth, Trends and Report Highlights

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).

List of Key Companies Profiled

• Corsair Gaming, Inc.
• ASUSTeK Computer Inc.
• Sony Corporation
• Dell Technologies, Inc.
• Microsoft Corporation
• Lenovo Group Limited
• HP, Inc.
• Nintendo Co., Ltd.
• Acer, Inc.
• Logitech International S.A.

Gaming Console Market Report Segmentation

By Type (Volume, Thousand Units, USD Billion, 2020-2031)

• Home Console
• Handheld Console
  • Portable
  • Non-Portable

By End-use (Volume, Thousand Units, USD Billion, 2020-2031)

• Residential
• Commercial

By Application (Volume, Thousand Units, USD Billion, 2020-2031)

• Gaming
• Non-Gaming

By Geography (Volume, Thousand Units, USD Billion, 2020-2031)

• North America
  • US
  • Canada
  • Mexico
  • Rest of North America
• Europe
  • Germany
  • UK
  • France
  • Russia
  • Spain
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Malaysia
  • Rest of Asia Pacific
• LAMEA
  • Brazil
  • Argentina
  • UAE
  • Saudi Arabia
  • South Africa
  • Nigeria
  • Rest of LAMEA

Related Reports:

North America Gaming Console Market Size, Share by 2031

• December-2024
• 131 Pages

LAMEA Gaming Console Market Size, Share & Forecast | 2031

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Europe Gaming Console Market Size | Forecast Report 2031

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Asia Pacific Gaming Console Market Size | Analysis 2031

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• 155 Pages