What is the present valuation and projected CAGR of the console games market?
The console games market size has grown strongly in recent years. It will grow from $79.71 billion in 2024 to $86.74 billion in 2025 at a compound annual growth rate (CAGR) of 8.8%. The growth in the historic period can be attributed to impact of exclusive titles, digital distribution platforms, expansion of gaming genres, introduction of home consoles, rise of iconic game titles.
The console games market size is expected to see strong growth in the next few years. It will grow to $119.68 billion in 2029 at a compound annual growth rate (CAGR) of 8.4%. The growth in the forecast period can be attributed to transition to next-generation consoles, subscription-based gaming services, cloud gaming platforms, integration of virtual reality (VR), continued emphasis on exclusive titles. Major trends in the forecast period include narrative-driven games, environmental and social themes, accessibility and inclusivity, augmented reality (AR) integration, growth of esports.
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How has the console games market evolved, and what factors have shaped its growth?
The growing popularity of e-sports is expected to propel the growth of the console games market going forward. Esports tournaments refer to organized competitive events where professional or amateur players compete against each other in various video games. The increasing popularity of esports tournaments is fueled by widespread internet access, expanding global gaming communities, and the growing prestige of professional gaming competitions with substantial rewards. E-sports enhances the gaming experience for console players by fostering competitive gameplay and community engagement, while also providing opportunities for brands to connect with a dedicated audience. For instance, in October 2022, according to a report by Newzoo International B.V., a Netherlands-based video games and gamer data provider, in 2022, the global esports audience is projected to grow by 8.7% year-on-year, reaching 532 million, with over 261 million classified as enthusiasts and 271 million as occasional viewers. The number of esports enthusiasts is expected to rise to 640 million in 2025. Therefore, growing popularity of e-sports is driving the console games market.
What are the major segments of the console games market?
The console games market covered in this report is segmented –
1) By Type: Digital Console Games, Online Or Microtransaction Console, Physical Console Games
2) By Device: TV, Computer Or PC, System Consoles
3) By Application: Shooter, Action, Sport Games, Role-Playing, Adventure, Racing, Fighting, Strategy, Other Applications
Subsegments:
1) By Digital Console Games: Downloadable Games, Digital Bundles And Collections, Subscription-Based Games
2) By Online Or Microtransaction Console Games: Free-To-Play Games With Microtransactions, Paid Games With In-Game Purchases, Seasonal Pass Games
3) By Physical Console Games: Disc-Based Games, Cartridge-Based Games, Limited Edition Physical Releases
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Which companies dominate the console games market?
Major companies operating in the console games market include Sony Interactive Entertainment, Microsoft Studios, Nintendo Co., Ltd., Ubisoft Entertainment, Electronic Arts Inc., Activision Blizzard, Inc., Square Enix Holdings Co., Ltd., Capcom Co., Ltd., Bandai Namco Entertainment Inc., Sega Corporation, Konami Holdings Corporation, Take-Two Interactive Software Inc., Rockstar Games, THQ Nordic, CD Projekt, Bethesda Softworks, Warner Bros. Interactive Entertainment, Insomniac Games, Naughty Dog LLC, Bungie Inc., Epic Games, Gearbox Software, FromSoftware Inc., Atlus Co. Ltd., Koei Tecmo Holdings Co. Ltd., Remedy Entertainment, SNK Corporation, Arc System Works, Telltale Games, Lucasfilm Games
How will evolving trends contribute to the growth of the console games market?
Major companies operating in the console games market are focusing on developing innovative products, such as wireless controllers, to enhance user engagement and gameplay experiences. Wireless controllers refer to advanced gaming peripherals that connect to consoles via wireless technology, offering players enhanced freedom of movement, customizable controls, and improved ergonomics for a more immersive gaming experience. For instance, in January 2023, Sony Interactive Entertainment (SIE), US-based company that develops and operates video game consoles and products, launched DualSense Edge wireless controller globally, This high-performance, customizable controller for the PlayStation 5 is designed to enhance the gaming experience by allowing players to personalize their controls and settings based on their individual playstyles. It includes features such as swappable stick caps, adjustable sensitivity, and a user-friendly interface for creating custom profiles.
What are the key regional dynamics of the console games market, and which region leads in market share?
The countries covered in the console games market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain
What Does The Console Games Market Report 2025 Offer?
The console games market research report from The Business Research Company offers global market size, growth rate, regional shares, competitor analysis, detailed segments, trends, and opportunities.
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.
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