Gaming Console Market Size | By Region, Type & Brand 2025

Q: What was the size of the global gaming console market in 2023?

The global gaming console market was valued at USD 54.2 billion in 2023.

Q: What is the projected market size of gaming consoles by 2031?

The gaming console market is expected to reach USD 89.1 billion by 2031.

Q: What is the expected CAGR of the gaming console market from 2024 to 2031?

The market is anticipated to grow at a CAGR of 6.5% during 2024–2031.

Q: Which key trends are shaping the future of the gaming console industry?

Cloud gaming, cross-platform integration, and AI-powered features are driving key trends.

Q: How does 6W market outlook report help businesses in making decisions?

6W monitors the market across 60+ countries Globally, publishing an annual market outlook report that analyses trends, key drivers, Size, Volume, Revenue, opportunities, and market segments. This report offers comprehensive insights, helping businesses understand market dynamics and make informed decisions.

Q: Do you also provide customisation in the market study?

Yes, we provide customisation as per your requirements. To learn more, feel free to contact us on sales@6wresearch.com

Code: MTA4584

Publication Date: Jun 2025

What is the Gaming console Market Size?

According to 6Wresearch internal database and industry insights, the Global Gaming console market was valued at USD 54.2 billion in 2024 and is anticipated to exceed USD 89.1 billion by 2031, registering a steady at a CAGR of6.5% during the forecast period.

The gaming console market continues to witness strong growth driven by the evolution of gaming preferences, the growing desire for immersive entertainment experiences, and the technological leaps we've seen with cloud gaming and VR compatibility. The surge in internet access and the blending of social gaming elements have also played a big role in making gaming appealing to a wide range of age groups and regions.

Major Growth Factors of the Gaming console Industry

Incorporation of VR and AR capabilities
Frequent launch of private and cross-platform gaming titles
Technological progressions in gaming hardware and software
Expansion of gaming communities and esports
Growing fame of multiplayer and online gaming
Strategic partnerships and acquisitions by key players
Rising demand for high-definition and immersive gaming experiences

Gaming console Market Trends

The gaming console market is undergoing a transformation, leaning more towards hybrid and cloud-based models that allow for cross-platform gaming. We're seeing a rise in subscriptions and digital downloads, which are quickly becoming the norm over traditional physical game copies. Plus, there's a growing interest among consumers for consoles that offer backward compatibility and improved connectivity for multiplayer gaming.

Emerging Developments in the Gaming console Industry

Manufacturers are putting a spotlight on creating sustainable hardware designs and energy-efficient systems. Many companies are diving into AI-enhanced gameplay and incorporating machine learning features. The companies are also looking into how to mix with smart home systems and vesture technology, which boosts user communication and paves the way for exciting new entertainment ecosystems.