Top 10 Companies in the Global Gaming Console Market, Driven by Rapid Technological Advancements and Innovations

The global gaming console market size reached a value of about USD 48.95 billion in 2022. The market is further expected to grow at a CAGR of about 7.2% in the forecast period of 2023-2028 to reach a value of around USD 74.29 billion by 2028. As per the analysis by Expert Market Research, the market is expected to be driven by the rapid technological advancements and innovations like advanced audio-visual systems.

The main purpose of a gaming console is to enable users to play video games. Popular gaming consoles include the various models of Wii, PlayStation, Xbox, and Leap TV, among others. Multi-purpose gaming console systems have been increasingly popular in recent years, which has helped the gaming console market thrive. 

With an increase in players, the gaming console market is seeing a revival. This is due to the rapid technological developments and advances, such as advanced audio-visual systems, which are driving up demand for gaming consoles worldwide. The market has also been helped by other factors like rising disposable incomes, the availability of different options to suit the preferences of consumers, and the numerous advantages provided by gaming consoles, which allow users to download videos and audios, browse the internet, listen to music, and watch videos while playing games.

However, it is projected that the high price of gaming consoles and the growing consumer inclination toward alternative platforms like internet games and mobile games will restrain the market expansion. Consumers' increasing investment in high-end displays and TVs in order to enjoy thrilling gaming experiences is predicted to fuel gaming console market expansion over the course of the forecast period.

The Asia Pacific is estimated to account for a significant share in the market due to the home console and specialised console markets' expanding penetration. Further, the region is anticipated to grow strongly over the course of the forecast period due to the widespread availability of 3D gaming gear and software, which will give it an advantage over other regional markets. In the upcoming years, emerging economies like China and India are expected to experience rapid growth and become some of the prime gaming demand generators in the coming years, thus aiding the gaming console market.

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Top 10 Global Gaming Console Companies:

Sony Corporation

Sony Group Corp. (Sony) produces electronic gadgets, semiconductors, and tools and equipment for the medical industry. It works on the creation, design, production, and marketing of video game consoles, electrical instruments, gadgets, and software for consumer, professional, and industrial sectors. The corporation sells a variety of electronic devices, such as televisions, music players, cell phones, cameras, software, game consoles, semiconductors, and batteries. Previously known as Sony Computer Entertainment (SCE), Sony Interactive Entertainment (SIE) is a global provider of video games and digital entertainment that is wholly owned by the Sony multinational conglomerate. For the PlayStation video game systems, Sony Interactive Entertainment is in charge of the hardware and software development, manufacturing, and sales.

Microsoft Corporation

Microsoft Corporation is the largest developer of personal computer software and applications. Additionally, the business produces hybrid tablets under its own brand name, publishes books and other print and digital material, offers email services, and sells computer peripherals like keyboards and mice. It is also a leading provider of internet services, such as cloud computing, video games, computer hardware, and other services, as well as search and gaming.

Nintendo Co., Ltd.

Nintendo creates and promotes hardware and software and is a global leader in the interactive entertainment sector. Its game consoles, which are connected to TVs and can be played on mobile devices, set the bar for entertaining families with exciting and engaging games. Nintendo, which developed some of the most well-known and successful video game properties, including Mario, and is one of the largest video game companies in the world by capitalisation.

Logitech Inc.

As a leading global provider of computer hardware and software, Logitech connects people to the digital world through its products and experiences. With products sold in almost every nation on earth, Logitech has developed into a multi-brand company that makes products that bring people together through music, gaming, video, and computers. The Logitech family of companies includes the following brands, Logitech, Blue Microphones, Jaybird, Ultimate Ears, Logitech G, ASTRO Gaming, and Streamlabs.

Valve Corporation

Valve is a technology and entertainment software with the popular Left 4 Dead, Counter-Strike, Portal, Day of Defeat, Team Fortress, and Dota brands represented in Valve's portfolio of games. Over 100 million units of these games have been sold globally, and they are considered to be some of the most popular online games ever. In addition to creating top-rated entertainment games, Valve also creates cutting-edge technologies like the Source® game engine and Steam®, a prominent digital distribution network that connects millions of players worldwide with thousands of games.

Analogue

The American firm Analogue, Inc. creates, develops, and markets hardware for video games. The Analogue Pocket, Analogue Mega Sg, Analogue Super Nt, Analogue Nt small, and Analogue Nt are some of its hardware offerings. Analogue is renowned for creating updated models of vintage video gaming consoles. It debuted with the Analogue CMVS unit a little more than ten years ago, and since then, it has faithfully replicated several fan favourite video game consoles, including the NES, SNES, and Sega Mega Drive/Genesis. The company also unveiled the Analogue Pocket, its first handheld system that supports Game Boy games.

Bandai Namco Studios Inc.

Bandai Namco Studios Inc. is a Japanese company that creates video games. The organisational structure of NAMCO BANDAI Games is designed to produce successful goods. Production Group and the Publishing Functions are the company's two virtual functional systems. The company works to promote the overall strategy for the content developed, including usage strategies and collaboration with other group businesses and external partners like the media and external production companies, while also creating content.

Atari Inc.

Atari, an interactive entertainment and licencing company, offers products across multiple platforms. A pioneer of video games, Atari, currently owns and oversees more than 200 titles and franchises, including well-known names like Test Drive®, Asteroids®, Pong®, Centipede®, Ghostbusters®, Missile Command®, Backyard Sports®, and Rollercoaster Tycoon®. By providing engaging games online, via browser, Facebook, and digital download, on smartphones, tablets, and other connected devices, Atari takes advantage of their wide user bases. Additionally, the company creates and sells interactive entertainment for Sony, Microsoft, and Nintendo video game consoles.

SEGA Holdings Co., Ltd.

Sega Holdings is a Japanese multinational video gaming and entertainment corporation. The SEGA SAMMY Group is engaged in a broad range of commercial activities, including the development of video games, toys, amusement machines, and pachinko machines; the resort industry; and the construction and management of hotels. The entertainment content sector focuses on the digital gaming interests of the SEGA Group.

Amkette

Amkette is a multi-national technology firm that produces consumer goods and computer hardware. Amkette was founded in 1986 as a maker of computer storage devices and swiftly rose to prominence as one of India's top producers. The company also offers one of the broadest and most dependable selections of digital signage media players for a variety of applications, including simple media playing, interactive signage using touch displays, analytics-level performance, and 4G Sim Card compatibility.