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Industry Benefiting from eSports and Gameplay Streaming, While Anticipating Next Generation Consoles for Growth
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Video game systems consist of two sub-categories, consoles and handheld devices. A video game console is a preconfigured, ready-to-play, interactive appliance whose primary purpose when connected to a television is video gaming. Examples include Sony’s PlayStation 4 and Microsoft’s Xbox One. A video game handheld is a self-contained unit with the same purpose, though not requiring a separate television. Examples include Sony’s PlayStation Vita and Nintendo’s Switch, though the latter can also be docked to act as a console. Devices such as smartphones, tablets, or personal computers on which video games can be played are not included in this market definition. Consumers in the video game systems market generally fall under two categories: “core gamers” or enthusiastic adopters of the latest advancements in gaming and value high performance and “casual gamers” who enjoy some games and online experiences, but are satisfied with using their current system for its entire useful lifetime and will often be satisfied with free-to-play casual games and mid-core games on their tablets and smartphones.The overall video game systems market continues to be defined by three key vendors – Microsoft, Nintendo, and Sony. Sony’s market share grew consistently over the past several years, driven by the ongoing success of the PlayStation 4 and continued loyalty for the PlayStation 3. Microsoft battles Sony in terms of technological specifications, although trailing significantly in terms of unit sales and total deployment. Due to the lack of significant upgrades to their consoles, the total market dipped in 2015 and 2016, but sales recovered in 2017 into 2018 as new variations on Microsoft’s and Sony’s consoles did well and Nintendo’s Switch sold better than expected. Looking forward, an overall declining market is anticipated with surges in years of new console releases or massively popular new games.Frost & Sullivan expects unit shipments for the video games systems market to decrease from 44.9 million in 2018 to 30.8 million in 2024, at a negative compound annual growth rate (CAGR) of 6.1 percent. There are indications that growth will decline as products on the market are currently “good enough” for many consumers until newer television technologies become more widespread across the globe, compelling games require hardware upgrades, and/or eSports, gameplay streaming, and virtual reality gaming bring more attention to the market.Geographical Segmentation: The global market has been segmented into North America, Latin America (NALA), Europe, the Middle East, and Africa (EMEA), and Asia-Pacific (APAC).Author: Robert Cavin
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