Growing Interest of Casual Gamers in Console Gaming to Spur Global Growth of Console and Handheld Gaming Software
Published: October 2017
- Code: MCP-7730
- Pages: 247
- Tables: 94
- Companies: 91
CONSOLE AND HANDHELD GAMING SOFTWARE: A RESEARCH BRIEF
The global market for Console and Handheld Gaming Software is forecast to reach US$52.2 billion by 2024, driven by the growing interest of casual gamers in console gaming as a result of OEM and developer focus on developing console hardware, software and game titles designed to appeal to the causal gamer. A key development in this regard is the launch of new generation miniaturized video game consoles in compact form factors and at low costs. Given that cost is a major bottleneck for adoption of game consoles among casual gamers, this development is a major step forward in helping expand the audience base for console games. Other major factors driving growth in the market include efforts of console vendors to enable cross-console and cross-platform multiplayer game playability; development and integration of virtual reality technology; rising interest in use of game consoles for rehabilitation; and continuous console hardware innovation. The United States represents the largest market worldwide. Asia-Pacific ranks as the fastest growing market with a CAGR of 7% over the analysis period led by factors such as growing levels of digital literacy among the large population base; digitalizing lifestyles of the growing base of affluent middle class population and the resulting preference for digital forms of entertainment; developing technology ecosystem and presence of gaming powerhouses like China and South Korea.
- With a 30% Share, Console Games Still Remains One of the Most Popular Gaming Platforms in the Video Games Industry
- With Hardcore Gamers Dominating Console Gaming, Males in the 13 to 34 Age Group Represent Important Target Customers
- The US$63 Billion Casual Game Opportunity Drives Console Vendors to Focus More Closely at the Casual Gamer
- Against the Backdrop of Robust Penetration of Virtual Reality in the Video Games Industry, VR Integration is Forecast to be Integral to the Future of Console Gaming
- Growing Cross Play Between Mobile and Consoles Dilutes the Threat of Substitution of Console Gaming by Mobile Gaming
Summary of Findings
- Market Estimates and Forecasts for 2016-2024
- Historic Review 2011-2015
Timeline for Analysis
- US, Canada, Japan, Europe (France, Germany, Italy, UK, Spain, Russia, and Rest of Europe), Asia-Pacific (Australia, China, South Korea and Rest of Asia-Pacific), Middle East & Africa, and Latin America (Brazil, Mexico, and Rest of Latin America)
Geographic Markets Analyzed
- Console Gaming Software, and Handheld Gaming Software
Market Segmentation & Classification
- Activision Blizzard, Inc.
- Activision Publishing, Inc.
- Arkane Studios SASU
- Atlus Co., Ltd.
- Bethesda Game Studios
- Capcom Co., Ltd.
KEY RESEARCH DELIVERABLES
- Review of Industry/Market Structure
- Analysis of Trends & Drivers
- Insights on Macro Market Scenarios
- Market SWOT Analysis
- Latent Demand Forecasts & Projections
- Comprehensive Geographic Market Analysis
- Presentation Ready Facts & Statistical Data Findings
- Coverage of Major/Niche Players, Market Shares & Competition
- Coverage of major Company/Technology/Product/Financial Stories
- Extensive Product/Service/End-Use/Technology Coverage Where Applicable