Dublin, April 04, 2023 (GLOBE NEWSWIRE) -- The "Console Games Global Market Report 2023" report has been added to ResearchAndMarkets.com's offering.
This report provides strategists, marketers and senior management with the critical information they need to assess the market.
The global console games market will grow from $73.01 billion in 2022 to $80.47 billion in 2023 at a compound annual growth rate (CAGR) of 10.2%. The console games market is expected to grow to $113.17 billion in 2027 at a CAGR of 8.9%.
Major players in the console games market are Tencent Games, Sony Interactive Entertainment, Microsoft Studios, Activision Blizzard, EA, Nintendo, Take-Two Interactive, Rockstar, Ubisoft, Valve Corporation, 2K Games, Gameloft, Naughty Dog, Capcom, Mojang, Square Enix, Sega, Bethesda Game Studios, BioWare, Epic Games, Game Freak, Insomniac Games Inc, Infinity Ward, Bandai Namco Entertainment, Gearbox Software, Midway, LucasArts, Telltale Games and Gamefreak.
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The console games market consists of sales of console games that include digital console games, online/micro-transaction consoles, and physical console games. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods. Only goods and services traded between entities or sold to end consumers are included.
Console games are a form of interactive multimedia software that use a video game console to deliver an interactive multimedia experience through a TV or other display device.
The Asia Pacific was the largest region in the console games market in 2022. Asia Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in console games market are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main types of console games are digital console games, online/microtransaction console and physical console games. A digital console games are the games that are played on an interactive electronic device such as consoles and computers. The devices used are TV, computer/PC, system consoles and are used in playing games such as shooter, action, sport games, role-playing, adventure, racing, fighting, strategy, others.
The major driving force for the console games market is the rapid increase in the number of active gamers across the world. The number of the gamers is expected to reach 2.73 billion by 2021. According to Nielsen, 64% of the general population in the USA are gamers. Esports viewers would also significantly contribute to the growth of console games market as around 557 million people watched Esports in 2021.
There has been a rapid growth in the mobile/tablet gaming owing to introduction of new smart phones/tablets with enhanced features to play video games without having to connect an external device/console. For example, the ease of using a mobile phone for multiple purposes such as messaging, internet use, and gaming has led to the maximum adoption of mobiles without having to sit in a fixed location with an external console device.
Due to the mobility offered by mobile/tablet based games, console games market may decline. According to the recent data from GMM, mobile gaming segment was close to 47% of the total revenue of the global games market and is further increasing at a strong growth posing a significant threat to the console games market.
Console video game developers are adopting to subscription-based gaming. For example, Xbox Live and PlayStation Plus provide licenses for a few games on monthly rotation basis. The first major subscription program by EA was the EA Access on Xbox One which offered discounts on EA games, a limited number of hours of pre-release play, and a vault of back catalog offerings. Microsoft released a Netflix-style offering called Game-Pass, for its first-party games and a number of titles from third-party developers and publishers.
A majority of parents around the world are concerned about children being exposed to inappropriate content via video games, therefore, a few regulatory actions have been taken up to standardize the age ratings online. The Entertainment Software Rating Board (ESRB) provides ratings for video games and apps so parents can make informed choices. Majority of the retailers in across North America carry an ESRB rating.
In January 2022, Microsoft Corporation, a US-based technology company announced its plan to acquire Activision Blizzard Inc. for $68.7 billion. The acquisition is expected to accelerate Microsoft's gaming business growth across mobile, PC, console, and cloud platforms, as well as provide building blocks for the metaverse. Activision Blizzard Inc. is a US-based video game holding company.
The countries covered in the console games market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK and USA.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 175 |
| Forecast Period | 2023 - 2027 |
| Estimated Market Value (USD) in 2023 | $80.47 billion |
| Forecasted Market Value (USD) by 2027 | $113.17 billion |
| Compound Annual Growth Rate | 8.9% |
| Regions Covered | Global |
Key Topics Covered:
1. Executive Summary
2. Console Games Market Characteristics
3. Console Games Market Trends And Strategies
4. Console Games Market - Macro Economic Scenar4. Console Games Market - Macro Economic Scenario
4.1 COVID-19 Impact On Console Games Market
4.2 Ukraine-Russia War Impact On Console Games Market
4.3 Impact Of High Inflation On Console Games Market
5. Console Games Market Size And Growth
5.1. Global Console Games Historic Market, 2017-2022, $ Billion
5.1.1. Drivers Of The Market
5.1.2. Restraints On The Market
5.2. Global Console Games Forecast Market, 2022-2027F, 2032F, $ Billion
5.2.1. Drivers Of The Market
5.2.2. Restraints On the Market
6. Console Games Market Segmentation
6.1. Global Console Games Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- Digital Console Games
- Online/Microtransaction Console
- Physical Console Games
6.2. Global Console Games Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- Shooter
- Action
- Sport Games
- Role-Playing
- Adventure
- Racing
- Fighting
- Strategy
- Other Applications
6.3. Global Console Games Market, Segmentation By Device, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- TV
- Computer/PC
- System Consoles
7. Console Games Market Regional And Country Analysis
7.1. Global Console Games Market, Split By Region, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
7.2. Global Console Games Market, Split By Country, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
For more information about this report visit https://www.researchandmarkets.com/r/m78dfr
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