Video
Game Console Market is segmented on the basis of product, application,
and geography. A video game console displays a video signal or visual image
about game and is generally a console machine. It is normally designed for
indoor users for playing video games in household computers or arcade machines.
An arcade machine includes display, video game computer, game controller
(buttons, joystick) and speakers; while a home computer is a personal computer
specially designed for home use for different purposes such as accessing the
internet, bookkeeping and playing video games.
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The factors that play an
important role in the video game console market are internet surfing, enabling
users to download videos, listening to music, and watching videos
simultaneously while playing video games. Video games are easily available in
the market along with high penetration of PCs across the globe. The increasing
popularity of tablets and smartphones has revolutionized the video game console
market with an increasing number of gamers. Rising availability of high-end
sound systems and displays provide a rich and improved experience to users.
Based on product, the video
game console market is classified as handheld game consoles, home video game
consoles, microconsoles, dedicated consoles, TV game consoles, and so on. The
segment “TV game consoles” holds the highest share of the video game console
market; while “handheld game console” accounts for the remaining share. TV
gaming console suggests users a better gaming experience owing to the
technological advancements in RAM and GPU. Based on application, the video game
console market is classified as household use, commercial use, and so on. Based
on geography, the video game console market is classified as Europe, Asia
Pacific, North America, Latin America, and Middle East & Africa.
Asia Pacific holds a large
share in terms of profits and shipments in the video game market followed by
North America. This could be attributed to the increasing number of gamers in
the region. Latin America is expected to grow highest CAGR in the next couple
of years. Also, Europe is projected to exhibit reasonable growth and account
for the major market share in the years to come. Key players operating in the
video game console industry are Microsoft Corporation, Sony Computers Entertainment
Inc., Mad Catz, Nintendo Co. Ltd., OUYA Inc., Playskool, Navidia, Jakks,
Pacific, Retrobit, Envizions, LeapFrog, Lenovo, Vtech, Tommo and Atgames.
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