Games Consoles have existed in different shapes and forms for decades. Starting out with video games such as Pong and Tetris, they are now capable of running visual masterpieces such as the Witcher 3, Metro Exodus, and Breath of the Wild. Unlike a PC, a Video Game Console is designed specifically to play games and has limited other features. Because of this the necessity of such hardware has been a controversial topic. However, a video game console is easy to use and is guaranteed to smoothly run any game released on the platform, which is why they have remained popular. Game Console Market Share is highly concentrated by Nintendo, Sony, and Microsoft, with Nintendo market share leading the group. The 8th generation of consoles is coming to a close, and we expect to see new consoles released in late 2020. You can find Gaming Console Market Size, Game Console Market Share, and other trends and statistics below and you can learn more about T4's strategy consulting services here.
The chart shows the Gaming Console Market Size from 2015 to 2020. In 2020, the size of the Game Console Industry was $37B and is projected to grow 3% in 2021. From 2015 to 2020 the Game Console Industry growth is projected to average 4% per year. These estimates were made before the Coronavirus (COVID-19) pandemic. The short term impact of COVID-19 on the Game Console market growth will likely be Beneficial because people are spending more time at home. The long term impact of COVID-19 on the Game Console market growth beyond the COVID-19 pandemic will likely be Low because gaming habits will go back to the state they were before. Request help with obtaining the source for this data and learn more about T4's strategy consulting services here.
The chart shows Game Console Market Share in 2019. The Game Console Market is concentrated among three vendors. The leading vendor in the Game Console Industry was Nintendo with 49% market share in 2019, followed by Sony with 38% Game Console market share, and Microsoft with 13% Game Console market share. During the 8th generation Sony has been the Game Console Market Share leader with over 100M units sold. However, the recent release of the handheld Nintendo Switch boosted Nintendo market share and on a yearly basis it is selling better than the Sony Playstation. Get help with market research for the Game Console market, including the source for this Console Market Share chart and learn more about T4's strategy consulting services here.
A Gaming Console can be considered the prize possession of modern gamers. Growth is driven by the general success of the entertainment industry, gaming becoming less of a "nerdy" pastime, and new exciting trends such as VR. As people free up more of their time they get the opportunity to spend it on recreation. Additionally, gaming has existed around long enough to stop being considered as an activity for children, and more and more titles are being released to appease to a wider, more casual audience. Also we're seeing more innovation in this sector, such as the VR addition to Sony's Playstation and the high success of the portable Nintendo Switch which led to growth of Nintendo Market Share.
Learn about T4's Consulting servicesGame Console is a Mature market composed of three large competitors who control Game Console market share. Nintendo market share was 49% of the Game Console market in 2019. Nintendo's flagship console is the handheld Nintendo Switch. With it's portability and hit exclusives such as Breath of the Wild and Mario Odyssey, the Switch quickly displayed impressive sales numbers in the Game Console market. Previously Nintendo had a lot of success with its Wii console. Sony market share was 38% of the Game Console market in 2019. Sony's Playstation 4 is the best-selling console in the 8th generation. Apart from impressive hardware it has some of the best-selling exclusives such as the Uncharted and God of War series. Microsoft market share was 13% of the global Gaming Console market in 2019. The Xbox One is the main competitor to the Sony Playstation in terms of AAA titles with high-end graphics. Microsoft's exclusives include the Halo, Forza, and Gears of War series.
T4's research team can help you learn more about the video Game Console industry with market analysis, competitive analysis, commercial Due Diligence, and other market research needs. This includes deeper analysis on competitors in the Game Console market, including: Sony, Microsoft, and Nintendo; research into related topics such as Esports; or additional support in the Video Gaming Sector or other Sectors. Learn more about T4's strategy consulting services here.
