The 3D gaming consoles market size is anticipated to expand at robust CAGR during the forecast period, 2021–2028. The growth of the market is attributed to the innovation in the virtual & augmented reality.
3D gaming console, also known as video game console, supports stereoscopic gameplays on integrated displays. Different consoles can be used for 3D gaming on distinct platforms. The stereoscopic images improve the experience of the gameplay and provide realistic display. It creates in-depth illusion and provides accurate structural localization in the gaming conditions.
8th generation consoles utilize cutting-edge technologies, including Blu Ray, motion sensor technology, virtual reality (VR), HD quality video, and online functions. The exposure of affordable 3D display technologies, advanced game software applications, and latest game console accessories have enabled the game and entertainment industry to expand from 2D to multi-dimensional gameplay. 3D games use polygonal graphics or 3D model instead of image files as their primary visual element, which involves camera movement.
Market Trends, Drivers, Restraints, and Opportunities
- Rising average time spending by gamers, increasing purchasing power, and aggressive marketing strategies adopted by developers are driving the demand for the 3D gaming consoles across the globe.
- Growing innovation in the gaming sector is expected to drive the market growth in the coming years.
- Gamer switching their experience to 3D gaming instead of 2D gaming to experience immersive experience is one of the major factors spurring the market expansion.
- The adoption of advanced gaming technology has been constrained majorly due to the high cost of display and hardware components, which can create challenges for the market growth.
- The COVID- 19 pandemic disrupted the supply chain for the 3D gaming consoles, hampering the market growth during the forecast period.
- High cost of the hardware components can hinder the growth of the 3D gaming console market in the coming years.
- Innovative features and incorporation of advanced technologies, such as multi-screen displays, motion sensors, and intelligent communication are projected to create lucrative opportunities for the market players.
Scope of 3D Gaming Consoles Market Report
The report on the global 3D gaming consoles market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
3D Gaming Consoles Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast
Components (Hardware and Software), Consoles (Home Consoles, Handheld Consoles, Micro Consoles, and Dedicated Consoles), Platforms (Microsoft Xbox, Sony PlayStation, and Nintendo Wii)
Asia Pacific, North America, Latin America, Europe, and Middle East & Africa
Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
Key Players Covered in the Report
Electronic Art Inc., Microsoft Corporation, Nintendo Co. Ltd, Sony Computer Entertainment, Guillemot Corporation SA (Thrustmaster), A4Tech Co. Ltd, Activision Publishing Inc., Logitech Inc., and Oculus VR
3D Gaming Consoles Market Segment Insights
On the basis of components, the market is bifurcated into hardware and software. The software segment is expected to constitute a key market share during the forecast period due to adoption of latest technology such as AR and VR. Conversely, the hardware segment is expected to grow at a steady rate during the forecast period.
Based on consoles, the market is segmented into home consoles, handheld consoles, micro consoles, and dedicated consoles. The home consoles segment is expected to grow at a rapid pace during the forecast period owing to availability of different features, such as online multiplayer gaming, and cloud support.
Product developments, updates, and presence of various choices for home consoles are higher compared to handheld and micro-consoles. This allows consumers to have a varied number of options to fit the consumer's requirements, driving the segment growth.
In terms of platforms, the market is classified as Microsoft Xbox, Sony PlayStation, and Nintendo Wii. The Sony PlayStation segment is expected to register at a substantial CAGR during the forecast period. Sony’s increasing production of switch console and its lightweight derivatives are driving the segment growth.
On the basis of regions, the market is categorized as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. Asia Pacific is anticipated to dominate the market during the forecast period. The regional market growth can be attributed to the presence of more than 1.5 Billion active gamers.
Asia Pacific is the huge revenue-generating region for the entire gaming industry. Economies such as China, Japan, Australia, and South Korea are the prime gaming hot spots, generating over 40% of the gaming industry’s revenue annually.
The global 3D gaming consoles market has been segmented on the basis of
- Home Consoles
- Hand Held Consoles
- Micro Consoles
- Dedicated Consoles
- Microsoft Xbox
- Sony PlayStation
- Nintendo Wii
- Asia Pacific
- North America
- Latin America
- Middle East & Africa
- Electronic Art Inc.
- Microsoft Corporation
- Nintendo Co. Ltd
- Sony Computer Entertainment
- Guillemot Corporation SA (Thrustmaster)
- A4Tech Co. Ltd
- Activision Publishing Inc.
- Logitech Inc.
- Oculus VR
Key players competing in the 3D gaming consoles market include Electronic Art Inc., Microsoft Corporation, Nintendo Co. Ltd, Sony Computer Entertainment, Guillemot Corporation SA (Thrustmaster), A4Tech Co. Ltd, Activision Publishing Inc., Logitech Inc., and Oculus VR.