Industry and News Video Game Console Market | Page 2

the current trend rising in the market. Introduction of new and advanced audio visual devices
contribute to the growth of the video game console market. Technological advancements and
modernization in some audio visual devices have considerably increased the demand for video
game consoles.
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.
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Based on product, the video game console market is classified as handheld game consoles, home
video game consoles, micro consoles, 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.