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 CAGR of 15.15% over the forecast period of 2019-2024.
3D gaming consoles. Rise in average spending by gamers, increasing purchasing power, and aggressive marketing strategies.
- 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 reality 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 rooms of 3D gaming consoles in the market. Current 8 generation consoles use 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 is expected to drive 3D gaming instead of 2D gaming.
Major Market Trends
Home Consoles to Dominate the 3D Gaming Consoles Market
- Home consoles primarily dominated the market with various players such as Sony, Microsoft and Nintendo dominating the market. Sony has been leading the market with 70,599 3D gaming consoles sold in North America alone.
- Various features such as online gaming multiplayer, cloud support, deals with home consoles have been increasingly popular, which have led to the growth of their 3D gaming consoles in the market.
- The release of various provisions 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 enriched the gaming experience of home consoles driving their sales.
- Product developments, updates, and selection choices for various home consoles are higher compared to Handhelds, micro-consoles which allows consumers to have a different 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 premier hot spots of the world, which are estimated to generate more than 40% of the gaming industry's revenues annually.
- 1.5D gaming region consoles in the region The region is estimated to have more than 3 billion active gamers
- The availability of the 3D gaming hardware and software in the region, as well as of the first vendors like Nintendo are based in the region, provides the region with competitive edge over others.
- 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), A4 Tech, 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 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 gaming and interactive media industries, they have announced 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
22.214.171.124 United States
126.96.36.199 United Kingdom
188.8.131.52 Rest of Europe
184.108.40.206 Rest of Asia-Pacific
5.4.4 Rest of the World
6 COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 A4 Tech Co. Ltd.
6.1.2 Activision Publishing Inc.
6.1.3 Electronic Art Inc.
6.1.4 Guillemot Corporation SA (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
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Related Topics: Gaming, Video Games and Consoles