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Gaming

Gaming Console Market Valued USD 34.3 Billion in 2020 and Projected to Grow at 5.37% CAGR During 2021 to 2030 – Report by Market Research Future (MRFR)

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Gaming Console Market Valued USD 34.3 Billion in 2020 and Projected to Grow at 5.37% CAGR During 2021 to 2030 - Report by Market Research Future (MRFR)

 

According to a comprehensive research report by Market Research Future (MRFR), “Global Gaming Console Market information by Type, by Application, End User and Region – forecast to 2030“, market was settled at USD 34.3 BN in 2020, which is expected to expand further at 5.37% CAGR during the forecast period (2021-2030).  

Key Players Involved In The Gaming Console Market:

  • Microsoft Corporation (US)
  • Sony Corporation (Japan)
  • Nintendo Co., Ltd. (Japan)
  • Valve Corporation (US)
  • Logitech Inc. (Switzerland)
  • NVIDIA Corporation (US)
  • BlueStacks (US)
  • PlayJam (UK)
  • OUYA Inc. (US)
  • Atari (US)
  • Sega (Japan)

Huge Popularity of 3D Gaming Drives the Market
The gaming console market is constantly growing, witnessing vast demand. The rapidly growing gaming market drives the demand for these consoles. 2020 was a dynamic year for the online gaming & gambling market. Besides, government initiatives for supporting the online gaming industry and subtle federal restrictions allow the gaming console market to garner significant revenues. With more legal breakthroughs expected in gaming in 2021 and beyond, the market is expected to garner significant gain in the years to come.

Players like Sony, Microsoft, and NVIDIA are seeing new opportunities to foster their global footprints markets that could mean big things. This also means that gaming console markets would garner significant traction worldwide during the years ahead. Besides, advances in various related technologies are expected to foster the global gaming console market size.

Industry Trends:
Rapid improvements in networking technologies and gaming platforms are projected to increase the gaming console market size, registering significant revenue growth and user screen time. Moreover, the growing adoption of smartphones and vast developments in technologies such as virtual reality (VR) and artificial intelligence (AI) are major trends accelerating the demand for gaming consoles.

The rising popularity of 3D video games and increasing numbers of e-sport tournaments boost market revenues. Besides, the rising popularity of competitive games and increasing numbers of gamers influence the market growth. The gaming industry is evolving and rebuilding with the growth in technological upgrades. Advancement in core wireless connectivity is also a major factor positively impacting the market growth.

The advancement in wireless connectivity is anticipated to drive the gaming console market in future years. The 5G technology has opened new avenues in the connectivity landscape and transformed the gaming industry. Therefore, countries worldwide are investing heavily in 5G technology to gain broader microeconomic advantages.

Also, there has been a rapid increase in the adoption of Bluetooth, Wi-Fi and other communication technologies. Wi-Fi 6 and IoT are the major developments in wireless connectivity. Wi-Fi 6 offers groundbreaking possibilities for developing new products across the gaming industry.

Besides, the extensive uptake of online games in the education, media & entertainment sectors has allowed the market to garner vast momentum in recent years. The rising adoption of cloud gaming and increasing numbers of gaming arenas influence the market value. Also, the wide commercial and personal uses impact the cloud gaming market share.

Prohibitive Cost is a Major Headwind 
On the other hand, the high costs of gaming consoles restrict market growth. Also, the lack of skilled professionals poses challenges to the growth of the gaming console market in some countries.

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Segmentation:
The gaming console market is segmented into types, applications, end-users, and regions. The type segment is bifurcated into home console, handheld console, hybrid console. The application segment is bifurcated into gaming and non-gaming. The end-user segment is bifurcated into personal and commercial. The region segment bifurcated into North America, Europe, Asia-Pacific, Middle East & Africa, and rest-of-the-world.

Regional Analysis
North America dominates the global gaming console market due to the rapidly growing gaming market in the region. Besides, increased demand for gaming consoles and improved Internet connectivity with high reliability boosts the market size in this region. The strong presence of key gaming console manufacturers, such as Microsoft, Valve Corporation, and NVIDIA, drives the regional market growth.

Also, various online gaming tournaments create significant demand for gaming consoles. Gaming is a rapidly growing segment in the entertainment industry in the US, encouraging the sales of the latest gaming devices and thus, contributing to the gaming console market shares in North America.

COVID-19 Impact
The onset of COVID-19 boosted the already booming gaming console industry, increasing public interest in online gaming. The pandemic and lockdown mandates worldwide allowed people more free time to involve in gaming and leisure activities. Besides, social distancing mandates are increasing the uptake of gaming accessories.

Also, increased uses of various cloud gaming services allow the gaming console market to witness a constant uptick over the past few months. Additionally, increasing investments by industry players to foster R&D activities offer significant market opportunities.

Competitive Analysis:
The gaming console market is expected to witness significant product launches and several strategic initiatives, such as collaborations, mergers & acquisitions, expansion, and product launches. Matured industry players make substantial strategic investments in research and development activities and foster their expansion plans.

For instance, recently, on Jan.11, 2022, Tencent Holdings (China) announced its plan to acquire Chinese gaming phone company Black Shark to build its own metaverse. The metaverse is a logical strategy for Tencent, and hence, this move would position Tencent in the leading place.

Tencent Holdings is the majority-owner of Tencent Music Entertainment and owner of WeChat and QQ Messenger. Black Shark is currently focusing on gaming-centric phones and hardware accessories, which will change to building virtual reality hardware. Technology giant Xiaomi is the majority shareholder in Black Shark currently.

In another instance, on Jan.05, 2022, Educational software company Picoo announced the development of a new video game console named after the company itself. The Picoo is a screen-less gaming console.

The new console looks like a PlayStation Move controller and comes with a one-handed remote, a wrist strap, and glowing light. It doesn’t have any buttons other than an On/Off switch. Instead, it uses a speaker, accelerometer, and vibration for play.

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Gaming

Global Gaming League Launches New Era of Competitive Video Gaming with T-Pain vs. NE-YO Showdown and More

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The Global Gaming League (GGL) announced its first season of year-around competitions titled SZN Zero. Backed by entertainment visionary Clinton Sparks and Grammy-winning artist and streaming icon T-Pain, the GGL is the first-of-its-kind, multi-title, live-action gaming entertainment league, where professional gamers, influencers, and casual players compete side-by-side in front of live audiences in Las Vegas and available globally on major platforms. Teams compete in popular game titles ranging from Call of Duty and Rocket League to Tetris and Street-Fighter.

Each event will feature two celebrity owned teams made up of four players each – high profile influencers, actors, athletes, artists, and both professional and casual gamers – facing off in four round matches covering four different genres. Superstar hosts and half time shows from major artists will turn up the entertainment factor. SZN Zero events will take place in Las Vegas, building up to a championship match in November live from the iconic Palms resort and casino, and the Global Gaming League will continue with SZN One in 2026.

SZN Zero’s first competition on August 23rd will feature T-Pain’s team Nappy Boy Grizzlies against three-time, Grammy award-winning hitmaker NE-YO and his Gentleman’s Gaming Team – finally facing off after months of social media trash talk and rivalry about who’s better at Tekken. The event will stream live on the GGL’s YouTube channel and other major platforms.

T-Pain, who is GGL’s Director of Strategy, was the league’s first team owner. NE-YO joins previously announced owners Flavor Flav and Bryce Hall along with Gillie Da Kid & Wallo.

“We wanted to build something that brought gamers from different backgrounds and cultures together in a unique way that was equally fun and competitive. With SZN Zero, we will introduce an authentic and relatable form of entertaining competition that will converge music, fashion, celebrity, and culture bringing the biggest form of entertainment in the world – video gaming – to the masses,” said Clinton Sparks, Founder and CEO of the Global Gaming League.

“Gaming is just as important as music or any other sport, to me. NE-YO had some words for me on socials, I heard enough of what he had to say and felt it was time to show him that I actually do this. But honestly I’m just ready to have some fun with my friend, because bottom line, that’s what gaming is all about. Now folks will just have to see what happens on August 23rd when we face off in Las Vegas at the GGL SZN Zero launch,” said T-Pain.

NE-YO responded: “Honestly, I was trying to connect with T-Pain to maybe be part of his team but when he kept blowing me off and then I saw that video of him talking about my lips, I decided the only way to get his attention would be to call him out. Now, we’ll see just how good he really is – or isn’t – when we go head to head.”

World-class Publishers such as Activision Blizzard, Bandai Namco, Capcom, EA, Tetris, and Ubisoft have all agreed to allow GGL to use some of the most popular and challenging games during SZN Zero, attracting a new audience and offering viewers a unique and compelling gaming experience. In addition to YouTube, the Global Gaming League SZN Zero will be available on other major streaming platforms in partnership with Dooya Media Group.

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Gaming

RedOctane Games Launches: A New Studio Dedicated to Rhythm Gaming Innovation

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RedOctane Games Launches: A New Studio Dedicated to Rhythm Gaming Innovation

 

A fresh beat is about to drop in the world of music rhythm games. Today marks the official launch of RedOctane Games, a small but passionate studio founded by veterans of the rhythm game world, alongside exceptional new-generation developers, creators, and community leaders from the global rhythm gaming scene.

RedOctane Games is focused solely on advancing the rhythm game genre combining the past with the future and being driven forward hand in hand with this well-established and respected community of gamers. The team has been busy in pre-production over recent months and has now officially entered production on its debut rhythm-based title, which is expected to be announced later this year.

Heading up the studio is Simon Ebejer, a seasoned games industry leader who was the Production Director on several Guitar Hero titles during his time at Neversoft, later becoming Studio Head at Vicarious Visions and VP of Operations at Blizzard Entertainment, where he played a pivotal role in the organization and delivery of Diablo IV.

The RedOctane Games team includes creators and developers who helped create and scale Guitar Hero and DJ Hero nearly two decades ago, as well as proven emerging development talent and community leaders from across today’s rhythm gaming space. The studio is being built with the community from the ground up, ensuring that players are part of the creative journey from day one.

In addition, it has been announced that brothers Charles and Kai Huang will join a special advisory board for the company. Charles and Kai were the original founders of the Guitar Hero franchise back in 2005, having partnered with Harmonix Music Systems to launch the groundbreaking title that helped define a generation of rhythm gaming. Their involvement brings deep heritage and insight to the studio’s future direction.

“Rhythm games are about more than just gameplay they’re about feel, flow, and connection to the music and to each other,” said Simon Ebejer, Head of Studio. “RedOctane Games is our way of giving back to a genre that means so much to us, while pushing it forward in new and exciting directions.”

With community-built development at its core and a strong foundation of technical and creative talent, RedOctane Games is ready to deliver the next evolution in rhythm gaming.

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Gaming

Evo Looks Forward to France and the Return of Evo Awards

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The Evolution Championship Series (known as Evo) concluded its flagship event in Las Vegas presented by Chipotle tonight, crowning 16 champions while celebrating the Fighting Game Community and its culture with the biggest and most immersive three-day festival of the year. Representing the largest and longest-running fighting game tournaments on Earth, Evo welcomed tens of thousands over the weekend with millions of fans who tuned in globally.

Next up, Evo will make its European debut at the Palais des Expos in Nice, France, on October 10-12, 2025, which will become the largest fighting game festival in EU history. Registration is still open at https://evo.gg/events/2025-france. Evo also announced it will return to Japan on May 1-3, 2026 and Las Vegas on June 26-28, 2026 along with the second annual Evo Awards in 2026 with more details to be unveiled later this year. Evo Singapore is now scheduled for early 2027.

“We feel strongly about the future of Evo after Japan became the largest in-person tournament in the history of the country earlier this year and now Las Vegas as our most immersive event ever,” said Stuart Saw, CEO for RTS, who co-owns and manages Evo along with Sony Interactive Entertainment. “Our team is focused on delivering unforgettable experiences for our diverse and passionate fighting game community, and we can’t wait to reveal our evolution in France.”

Evo Las Vegas packed a punch for everyone over the weekend, anchored by competitors from 60+ countries across the eight Arena Finals and eight Extended Lineup Finals. The Evo Arena on Sunday sold out, hosting 10,000 fans who enjoyed the newly redesigned space with larger screens to not miss a punch. On Saturday, SonicFox won their eighth Evo championship, only second all-time to fighting game legend Justin Wong’s nine Evo victories. Arslan Ash won his sixth Evo championship tonight in dramatic fashion along with his third consecutive Evo Las Vegas title and second-straight TEKKEN 8 championship. MenaRD became the first Street Fighter 6 champion to win Evo Japan and Evo Las Vegas in the same year and now owns three Evo titles.

Fans were also treated to the opportunity to play unreleased major gaming titles for the first time, including Quarter Up’s (Skybound Entertainment) Invincible VS and Arc System Works’ Marvel Tōkon: Fighting Souls along with new characters in Street Fighter 6, 2XKO and Fatal Fury: City of Wolves.

“Las Vegas is Evo’s flagship event, so we worked meticulously to refine and improve it this year with curated experiences that celebrate competitive fighting games,” said Rick Thiher, General Manager of Evo. “Every year what I love most about Evo is seeing the first timers explore, while at the same time, welcoming back generations of fans who grew up with the community.”

Major publishers surprised fans tonight during the Arena Finals with new announcements for Invincible VS, Guilty Gear -Strive-, Marvel Tōkon: Fighting Souls, Virtua Fighter, Fatal Fury: City of the Wolves, TEKKEN 8, UNDER NIGHT IN-BIRTH II Sys:Celes, and Street Fighter 6.

ARENA FINALS CHAMPIONS

Street Fighter 6 – Capcom

Dominican Saul Leonardo “MenaRD” Mena II stormed through the bracket for his third Evo title after sweeping “Kakeru” from Japan in the Winners Final and the Grand Final in a rematch of Evo Japan from last year.

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TEKKEN 8 – Bandai Namco Entertainment

In a 2024 rematch, Pakistan’s Arslan “Arslan Ash” Ash became a six-time Evo champion after defeating fellow countryman Atif “ATIF” Butt in a thrilling 3-1 Grand Final Reset battle. ATIF swept Arslan Ash in the Grand Final 3-0 before falling in the reset. This marked the third-straight year Arslan Ash has won in Evo Las Vegas.

Fatal Fury: City of the Wolves – SNK’s

Japanese competitor from Osaka, Goichi “GO1” Kishida faced off against Lin “ET” Chiahung of Taiwan three times in a thrilling competition as Kishida scored a victory, 3-2, in the Grand Final Reset. GO1 became the first Evo champion of Fatal Fury: City of the Wolves.

Guilty Gear -Strive- – Arc System Works

American Kyle “Kshuewhatdamoo” Shumate from Dublin, Ohio., took home the title in his first-ever Evo by knocking off fellow American Nathan “RedDitto” Chen of Monterey Park, Calif., 3-0. “Kshuewhatdamoo” dropped his match in the Grand Final, 3-0, before sweeping his opponent in the Grand Final Reset.

Granblue Fantasy Versus: Rising – Cygames

American Matthieu “Kojicoco” Fardet who currently lives in Japan, defeated Matthew “Zane” Wanders from Trabuco Canyon, Calif., in a Grand Final Reset victory, 3-1, showcasing an incredible run from the Losers bracket. In 2024, Kojicoco finished in third place, marking the second consecutive year with a top three finish at Evo in Las Vegas.

MARVEL vs. CAPCOM 2 – Capcom

American Ken “Khaos” Villalobos from Los Angeles, Calif., knocked off fellow American Andy “Vigga” Nguyen from Seattle, Wash., for his first Evo championship in another thrilling contest, 3-2.

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Under Night In-Birth II Sys:Celes – Arc System Works

American Jaden “Defiant” E., from Jacksonville, Fla., who finished fourth in Evo 2024, took home the title after defeating fellow Florida native from Palm Bay, Izayah “BigBlack” Davis, 3-2. Defiant came from the Losers bracket and knocked off “BigBlack” in the Grand Final and then again in the Grand Final Reset to become a first time Evo champion.

Mortal Kombat 1 – Warner Bros. Games

American Dominique “SonicFox” McLean from Seattle, Wash., made Evo history winning their eighth overall Evo title, moving second overall to Justin Wong. They pulled out a thriller 3-2 over Nicolás “NicoLas” Martínez from Chile in a rematch from 2024.

EXTENDED LINEUP CHAMPIONS

The King of Fighters XV – SNK

Taiwan’s Lin “ET” Chiahung found redemption tonight after losing the Fatal Fury: City of the Wolves Grand Final earlier in the day to capture his third Evo championship after beating Kofero “Layec” Honesto of Mexico, 3-1. ET is considered to be one of the best The King of Fighters players of all time.

BlazBlue: Central Fiction – Arc System Works

American Ryane “XCaliburBladez” Jimenez from New York defeated “J-Anson” from Japan in the Grand Final, 3-2, to take the BlazBlue: Central Fiction title back to the Big Apple.

Virtua Fighter 5 R.E.V.O – SEGA

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Fellow Japanese competitors faced off as the top seed “Akani Shiwapo” defeated “Itabashi Zangief” 3-1 in the Grand Final.

Killer Instinct – Xbox Game Studios

Roman “Roman22s” Gilbert from Phoenix, Ariz., made an astonishing comeback from the Losers bracket by winning six-straight games over the defending champion Anthony “DaaChronicle” Garcia from Kerman, Calif. This was Gilbert’s first-career Evo title in his fourth Evo appearance.

Rivals of Aether II – offbrand games & Aether Studios

American Justin “Plup” McGrath from Orlando, Fla., knocked off countrymate Nick “Stango” Stanton of Philadelphia, Pa., 3-1. It was a dominating performance throughout the tournament from McGrath, who only dropped a single game earning his first Evo championship.

Samurai Shodown – SNK

Brad “Scrub Saibot” Hanasyk, from Edmonton, Canada, defeated “Watanabe Shachou” from Japan in a Grand Final Reset in a winner-take-all game five. This is Scrub Saibot’s first Evo championship and solidified his position as the top Samurai Shodown player in the world.

Capcom vs. SNK 2 – Capcom

Ryo “BAS” Yoshida from Japan won his third Evo championship winning 2-0 over American John “ChoiBoi” Choi from San Jose, Calif., a 2025 Evo Hall of Fame inductee during the Evo Awards in February and who has competed in every Evo.

Guilty Gear Xrd REV 2 – Arc System Works

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American TJ “Vogue” Huckabee from Lake Forest, Calif., won his first Evo championship 3-2 defeating American Bennett “KTP” Gerlach from Nashville, Tenn., who competed in his first Evo.

Evo produced its most immersive festival yet to unite the fighting game community. Major brands connected with fans at Evo including Chipotle (headlined with the foiled-wrapped Burrito Bus welcoming fans all weekend with free rides to a nearby Chipotle location to satisfy their cravings), AT&T, PlayStation, Qiddiya Gaming, Nacon, Zenni, Red Bull, White Claw Zero Proof, Under Armour, Voodoo Ranger IPA, and Grand Archive TCG.

The Evo Arcade Controller Museum truly came into its own this year with a history of fighting game controllers by PlayStation that channeled the life and soul of the arcade era. The museum also featured an exhibit recreating Evo Moment #37, and its Icons Art Exhibition with guest artists including Shinkiro and jbstyle honoring characters that transcend the experiences found within the games themselves.

At the center of the festival, the Evo Arcade offered fans the opportunity to play for free 300+ classic cabinet games spanning nearly the half of a football field and anchored by the Voodoo Ranger IPA Pop-Up Bar.

The expanded Evo Showcase featured new announcements, collaborations with publishers, and legends including six-time Evo champion Arslan Ash and Japanese influencer Betty facing off against nine-time Evo champion Justin Wong.

Other notable interactive experiences during Evo included the Artist Alley to purchase curated fighting game art at Evo, the Cosplay Contest with Steff Von Schweetz from Las Vegas, Nev., capturing the crown as Cagliostro from the Granblue Fantasy universe and winning an all-expense trip to a future Evo event globally, the BYOC (Bring Your Own Console) community-led area for fighting games, and the new Indie Dev Gallery featuring 14 up-and-coming fighting game publishers for fans to explore.

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