Console Games Global Market Report 2021: COVID-19 Impact And Recovery To 2030
Console Games Market Report 2021: COVID-19 Impact And Recovery To 2030
The Business Research Company’s Console Games Global Market Report 2021: COVID-19 Impact and Recovery To 2030
LONDON, GREATER LONDON , UK, July 30, 2021 /EINPresswire.com/ — Console video game developers are adopting subscription-based gaming. For example, Xbox Live and PlayStation Plus provide licenses for a few games on monthly rotation basis. The first major subscription program by EA was the EA Access on Xbox One which offered discounts on EA games, a limited number of hours of pre-release play, and a vault of back catalog offerings. Microsoft, in June 2017, released a Netflix-style offering called Game-Pass, for its first-party games and a number of titles from third-party developers and publishers.
Major players in the console games industry are Tencent Games, Sony Interactive Entertainment, Microsoft Studios, Activision Blizzard and EA.
In January 2019, Sony Interactive Entertainment, formerly known as Sony Computer Entertainment, a multinational video game and digital entertainment company, acquired Audiokinetic, Inc., for an undisclosed amount. Audiokinetic Inc. is a Canadian software company that develops new standards in audio production for interactive media and games. With this acquisition, SIE will tap into Audiokinetic's vast audio engineering expertise, adding significant value to the PlayStation ecosystem.
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The global console games market is expected to grow from $40.69 billion in 2020 to $42.44 billion in 2021 at a compound annual growth rate (CAGR) of 4.3%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The console video game market size is expected to reach $65.74 billion in 2025 at a CAGR of 12%.
TBRC’s global console games market report is segmented by type into digital console games, online/microtransaction console, physical console games, by application into shooter, action, sport games, role-playing, adventure, racing, fighting, strategy, others, and by device into TV, computer/PC, system consoles.
The countries covered with console games market shares are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Console Games Global Market Report 2021: COVID-19 Impact and Recovery To 2030 is one of a series of new reports from The Business Research Company that provides console games market overview, forecast console games market size and growth for the whole market, console games market segments, and geographies, console games market trends, console games market drivers, restraints, leading competitors’ revenues, profiles, and market shares.
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Source: EIN Presswire