2014-01-28 10:38:02 - Global Gaming Console Market 2012-2016 - a new market research report on companiesandmarkets.com
The Global Gaming Console market is to grow at a CAGR of 3.93 percent over the period 2012-2016. One of the key factors contributing to this market growth is the introduction of new and advanced audio visual devices. The Global Gaming Console market has also been witnessing the introduction of multi-utility consoles. However, the shift towards other gaming platform could pose a challenge to the growth of this market.
The availability of multi-functional gaming consoles is the latest trend emerging in the Global Gaming Console market. Multi-functional gaming consoles not only support games but also enable gamers to watch videos, listen to music, browse the internet, and download videos. Hence, this console functions as a gaming and an entertainment console with
its multi-utility features. Recently, Nintendo launched Wii U, which allows users to operate the device as a handheld console and use the same console to browse the internet, draw sketches, and post them on social media websites. This trend of vendors manufacturing multi-utility consoles is expected to drive the growth of the Global Gaming Console market during the forecast period.
One of the main drivers in this market is the innovations in audiovisual devices. With the availability of high-end displays and sound systems, consumers can now enjoy a good gaming experience. Moreover, HDTVs with in-built wireless connectivity and HDMI ports, which have the capability to support external hard disks, provide consumers with an enriched gaming experience.
One of the main challenges in this market is the shifting of consumers to alternative gaming platforms such as mobile games and online games. Moreover, these games are available at a lower cost than console gaming. As a result, there has been a drastic decline in the sales of gaming consoles.
The key vendors dominating this space include Microsoft Corp., Nintendo Co. Ltd., and Sony Computers Entertainment Inc. The other vendors mentioned are BlueStacks, Mad Catz, Nvidia Corp., OUYA Inc., PlayJam, and Valve Corp.
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