DUBLIN--(BUSINESS WIRE)--The "3D Gaming Consoles Market - Growth, Trends, and Forecast (2019-2024)" report has been added to ResearchAndMarkets.com's offering.
The 3D gaming consoles market is expected to register a CAGR of 15.15% over the forecast period of 2019-2024.
Rise in the average spending by gamers, increasing purchasing power, and aggressive marketing strategies adopted by developers across the globe are driving the demand for 3D gaming consoles.
- Companies, such as Microsoft and Sony, have been introducing 3D gaming consoles, like Nintendo Switch, as an addition to the existing console options to keep gamers engaged. The addition of augmented reality and virtual reality has also increased the popularity of the software.
- Companies, such as Microsoft, Nintendo, and Xbox, have been increasing their product portfolio by increasing the number of 3D gaming consoles available. Products, like Xbox one X, PlayStation 4, and NES Classic Edition, have been released to drive the sale of 3D gaming consoles in the market. Current 8th generation consoles utilize cutting-edge technologies including Blu Ray, motion sense technology, virtual reality (VR), HD quality video and online functions.
- With growing technological innovation in the gaming sector, the 3D gaming console market is expected to drive the market with more gamer switching their experience to 3D gaming instead of 2D gaming.
Major Market Trends
Home Consoles to Dominate the 3D Gaming Consoles Market
- Home consoles primarily dominate the market with various players such as Sony, Microsoft and Nintendo dominating the market. Sony has been leading the market with about 70,599 3D gaming consoles sold in North America alone.
- Various features such as online multiplayer gaming, cloud support, deals associated with home consoles have been increasingly popular, which have aided in the growth of their 3D gaming consoles in the market.
- The release of the various provision of accessories such as 4K TVs has been advantageous to the growth of home consoles as they provide better gaming experience than other options available. The advent of VR and AR technologies further enrich the gaming experience of home consoles driving their sales.
- Product developments, updates, and selection choices for various home consoles are higher compared to Handheld, micro-consoles which allows consumers to have a varied number of options to fit the consumer's needs.
Asia-Pacific to be the Fastest Growing Market
- Asia-Pacific is the most massive revenue generating economy for the entire gaming industry. Countries, like China, Japan, Australia, and South Korea are the prime gaming hot spots of the world, which are estimated to generate more than 40% of the gaming industry's revenues annually.
- The region is estimated to have more than 1.5 billion active gamers creating a vast market for 3D gaming consoles in the region.
- The easy availability of the 3D gaming hardware and software in the region, as most of the prime vendors like Nintendo are based in the region, provides the region with a competitive edge over others.
- With the increasing penetration of home consoles and PC based gaming, the demand for 3D gaming consoles in the region is expected to grow exponentially in the near future.
The 3D gaming consoles market is consolidated with the major player having maximum market share. Some of the key players include Electronic Art, Microsoft Corporation, Nintendo, Sony Computer Entertainment, Guillemot Corporation (Thrustmaster), A4Tech, Activision Publishing, Logitech, Oculus VR, among others.
- May 2019 - Sony Corporation (Sony) and Microsoft Corp. (Microsoft) aprtnered on new innovations to enhance customer experiences in their direct-to-consumer entertainment platforms and AI solutions.
- January 2019 - Sony Interactive Entertainment (SIE) and Audiokinetic, a leading global provider of cross-platform audio solutions for the gaming and interactive media industries, announced they have entered into a definitive agreement for SIE to acquire Audiokinetic. With this acquisition, SIE will tap into Audiokinetic's vast audio engineering expertise, adding significant value to the PlayStation ecosystem. Audiokinetic will continue to operate independently, licensing its multi-platform audio tools and middleware to developers in established and growth markets.
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Overview
4.2 Introduction to Market Drivers & Restraints
4.3 Market Drivers
4.3.1 Growing Popularity of 3D Devices
4.3.2 Development of Autostereoscopic Technology
4.4 Market Restraints
4.4.1 Strong Competition form PCs
4.4.2 Higher Game Development Costs
4.5 Industry Value Chain Analysis
4.6 Industry Attractiveness - Porter's Five Force Analysis
5 MARKET SEGMENTATION
5.1 By Component
5.2 By Console
5.2.1 Home Consoles
5.2.2 Hand Held Consoles
5.2.3 Micro Consoles
5.2.4 Dedicated Consoles
5.3 By Platform
5.3.1 Microsoft Xbox
5.3.2 Sony PlayStation
5.3.3 Nintendo Wii
5.3.4 Other Platforms
5.4.1 North America
18.104.22.168 United States
22.214.171.124 United Kingdom
126.96.36.199 Rest of Europe
188.8.131.52 Rest of Asia-Pacific
5.4.4 Rest of the World
6 COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 A4Tech Co. Ltd.
6.1.2 Activision Publishing Inc.
6.1.3 Electronic Art Inc.
6.1.4 Guillemot Corporation S.A. (Thrustmaster)
6.1.5 Kaneva LLC
6.1.6 Logitech Inc.
6.1.7 Microsoft Corporation
6.1.8 Nintendo Co. Ltd.
6.1.9 Oculus VR
6.1.10 Sony Computer Entertainment
7 INVESTMENT ANALYSIS
8 MARKET OPPORTUNITIES AND FUTURE TRENDS
For more information about this report visit https://www.researchandmarkets.com/r/q4qyg7