Global Console Games Industry Set to Reach $57.9 Billion in 2020 - COVID-19 Quarantine Has Created a Favorable Market Scenario

DUBLIN, June 19, 2020 /PRNewswire/ -- The "Console Games Global Market Report 2020-30: COVID-19 Implications and Growth" report has been added to ResearchAndMarkets.com's offering.

Where is the largest and fastest growing market for the console games? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? This report answers all these questions and many more.

The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography. It places the market within the context of the wider console games market, and compares it with other markets.

• The market characteristics section of the report defines and explains the market.
• The market size section gives the market size ($b) covering both the historic growth of the market, the influence of the Covid 19 virus and forecasting its growth.
• Market segmentations break down market into sub markets.
• The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth. It covers the growth trajectory of Covid 19 for all regions, key developed countries and major emerging markets.
• Competitive landscape gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.
• The trends and strategies section analyses the shape of the market as it emerges from the crisis and suggests how companies can grow as the market recovers.
• The console games market section of the report gives context. It compares the console games market with other segments of the console games market by size and growth, historic and forecast. It analyses GDP proportion, expenditure per capita, console games indicators comparison.

The global console games market is expected to grow from $40.6 billion in 2019 to about $57.9 billion in 2020. Covid quarantine has presented an opportunity for dedicated console and computer gamers to spend more time with new games in store. However, high penetration of smartphones has increased the demand for mobile gaming as compared to that of console games. The market is expected to stabilize and reach $67.1 billion at a CAGR of 13.4% through 2023.

The major driving force for the console games market is the rapid increase in the number of active gamers across the world. In 2017, there were 2.21 billion gamers worldwide and the number 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 it is estimated that approximately 557 million people will watch Esports by 2021.

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, in June 2017, 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 standardise 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.

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.

The console games market has been geographically segmented into North America, Western Europe, APAC, Eastern Europe, South America and Middle East & Africa. The Asia-Pacific market is the largest market for Console Games and is expected to continue to be the largest market during the forecast period.

Major players in the console games market are Tencent Games, Sony Interactive Entertainment, Microsoft Studios, Activision Blizzard and EA.

Key Topics Covered

1. Executive Summary

2. Console Games Market Characteristics

3. Console Games Market Size And Growth
3.1. Global Console Games Historic Market, 2015 - 2019, $ Billion
3.1.1. Drivers Of The Market
3.1.2. Restraints On The Market
3.2. Global Console Games Forecast Market, 2019 - 2023F, 2025F, 2030F, $ Billion
3.2.1. Drivers Of The Market
3.2.2. Restraints On the Market

4. Console Games Market Segmentation
4.1. Global Console Games Market, Segmentation Final Segments By Type, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion

• Digital console games
• Online/Microtransaction console
• Physical console games

4.2. Global Console Games Market, Segmentation Final Segments By Application, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion

• TV
• Computer/PC
• System consoles such as Gameboy and Play station portable

5. Console Games Market Regional And Country Analysis
5.1. Global Console Games Market, Split By Region, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
5.2. Global Console Games Market, Split By Country, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion

Companies Mentioned

• 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
• Gamefreak

For more information about this report visit https://www.researchandmarkets.com/r/z2hvvx

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