Handheld Game Console Market Overview
Product Overview and Scope of Handheld Game Console
A handheld game console is a small and portable self-contained video game console with a built-in screen, game controls, and speakers. Portable game consoles are self-contained and simple handheld gaming systems. They incorporate the display, speakers, console, and controls into a single unit that enables the user to play and carry them at any location.
The major advantage of a gaming console over a PC is it requires minimal setup. For set up, it only needs an HDMI cable, a power source, and a secure internet connection (if playing online). Consoles such as the Xbox, One X comes with everything included, making them easy to use without any technical tinkering needed. Console controllers are specifically designed to offer comfort during gameplay, in contrast to the traditional mouse and keyboard setup that is more commonly used by competitive gamers. In addition, consoles provide convenient access to social features, including built-in voice chat integrated into their operating systems. Thus, console gamers can easily communicate with their friends online without additional software installation, apart from some third-party apps that are available through the PlayStation Store or Xbox Marketplace. If players are looking to connect with others around the globe and find more people to play with and against, these marketplaces are great ways to find popular multiplayer shooters and other titles that can involve socializing.
Game consoles are often lighter and more portable than traditional consoles. Furthermore, they often have more powerful batteries than traditional consoles, allowing players to play for extended periods before requiring recharge. Some portable video game consoles may include advanced features such as internet connectivity and cloud gaming. Therefore, escalating demand for mobile gaming is among the key factors driving global market growth. Mobile gaming is one of the most rapidly growing industries across the globe which is expected to propel the market growth over the forecast period.
Market Drivers
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Rapid growth in the gaming industry is the major factor that influences the growth of the global handheld game console market.
In the last few years, the gaming industry has experienced rapid growth. Advances in technology and a growing audience have quickly made the gaming industry one of the world's most profitable entertainment industries. Gaming is an increasingly popular hobby among people of all ages, genders, and cultures. In addition, the industry is not just a form of entertainment, but a platform for social interaction, creative expression, and even career opportunities. With the advent of mobile games and free-to-play games, gaming has become affordable and accessible.
Further, with a young and tech-savvy population as well as increasing smartphone penetration the global gaming industry is expected to see further growth in the handheld game console market in the coming years. As the industry continues to mature, the companies can be expected to produce more innovative games and technologies by acquiring their position as major players in the global gaming industry.
The growth in the gaming industry has brought rapid digitalization, rising internet usage, and increasing smartphone penetration. This has resulted in the creation of new features, players can be able to enjoy more realistic, vibrant, and captivating experiences. Gaming console experiences are continually advancing and help the gaming industry achieve remarkable altitudes. All these factors contribute to the growth of the handheld game console market.
- Growing popularity of eSports among teenagers
- Technological advancements in virtual and augmented reality along with the rise of cloud gaming activities
Global Handheld Game Console Revenue by Regions (2018-2023)
Global Handheld Game Console Revenue and Market Share (%) by regions (2018-2023)
|
2018 |
2019 |
2020 |
2021 |
2022 |
2023 |
|
|
North America |
XX |
XX |
XX |
XX |
XX |
XX |
|
Europe |
XX |
XX |
XX |
XX |
XX |
XX |
|
Asia Pacific |
XX |
XX |
XX |
XX |
XX |
XX |
|
Latin America |
XX |
XX |
XX |
XX |
XX |
XX |
|
Middle East & Africa |
XX |
XX |
XX |
XX |
XX |
XX |
|
Total |
XX |
XX |
XX |
XX |
XX |
25.15 |
Global Handheld Game Console Market Segmentation Analysis
By Type
• Single Function Gaming Console
• Multifunction Gaming Console
By Platform
• IOS
• Android
• Windows
• Others
By Product
• PlayStation 5
• Xbox
• Razer Switchblade
• PlayStation Vita
• Nintendo Switch Lite
By Application:
• Children
• Adults
Handheld Game Console Market, By application
The adult segment has gained the largest market share in the global handheld game console market. This is due to the video games bring joy and provide mental stimulation and stress relief to the adult. Games have become a great way to convene with people socially and to connect with family and friends as well as the global community. Playing video games has a considerable impact on cognitive skills, such as the ability to think about and understand objects in three dimensions. Handheld game consoles offer convenience and portability, allowing adults to play games on the go or during their leisure time. This will increase the demand for the adult segment in the handheld game console market.
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Global Handheld Game Console Market share, by application (2022) |
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|
|
Source: Cognitive Market Research |
Related Reports
• Global Console and Handheld Gaming Software Market
• Global Connected Game Console Market
• Global 3D Gaming Console Market
• Global Video Game Market
• Global Intelligent Electronic Game Console Market
• Global Mobile game market
Handheld Game Console Market Players
• Nvidia Corp.
• Nintendo Co., Ltd.
• Sony
• Wikipad, Inc.
• Razer Inc.
• Sega Games Co.
• GCW Zero
• Sony Group Corporation
• Mad Catz Global Ltd
• Valve Corp.
• Etsy Inc.
Global Handheld Game Console Manufacturers Profiles/Analysis
Sony Group Corporation
Sony Group Corporation Basic Information, Manufacturing Base, Sales Area, and Competitors
|
Sr. No. |
Item |
Description |
|
1 |
Company Name |
Sony Group Corporation |
|
2 |
Website |
www.sony.com |
|
3 |
Established Date |
1946 |
|
4 |
Headquartered |
Japan |
|
5 |
Market Position/ History |
Sony Group Corporation was founded by Masaru Ibuka in 1946. The next year, Akio Morita joined and they founded a company called Tokyo Tsushin Kogyo. In 1958 the company name was changed to Sony. Sony co-founder Akio Morita founded Sony Corporation of America in 1960. Further, in 1979, the company began a life insurance company, one of its many peripheral businesses. In the course of time, the company expanded its operations across the globe. In 2015, Sony purchased Toshiba's image sensor business. In 2015, Sony purchased Toshiba's image sensor business. In April 2021, Sony Corporation was renamed Sony Group Corporation. Sony is headquartered in Minato-Ku, Tokyo, Japan, and has 108,900 employees working across locations. |
|
6 |
Sales Area |
Worldwide |
|
7 |
Manufacturing Location |
Japan, United States, Europe, China, India, Australia, Indonesia, Malaysia, New Zealand, Philippines, Singapore, Thailand, and Vietnam |
|
8 |
Ticker |
TYO: 6758 |
|
9 |
No. of Employees |
113,000 (As of March 31, 2023) |
|
10 |
Competitors |
Samsung Electronics., Panasonic Holdings, Microsoft, Nvidia Corp., Valve Corp. |
|
11 |
CEO |
Kenichiro Yoshida |
|
12 |
Ownership Type |
Public |
|
13 |
Contact Information |
1-7-1 Konan Minato-ku, Tokyo, 108-0075 Japan Tel: 81-3-6748-2111 |
Business Segment/ Overview:
Sony Group Corporation manufactures and distributes electronic products semiconductors, medical-related equipment, instruments, and devices. The company operates through several business segments including Game & Network Services, Music, Pictures, Entertainment, Technology & Services, Imaging & Sensing Solutions, and Financial Services.
The company’s product portfolio includes televisions, cameras, mobile phones, music systems, game consoles and software, semiconductors, batteries, and other electronic components. Further, Sony Group produces, acquires, and distributes recorded music, motion pictures, and television programming; and operates television and digital networks. The company also provides banking and financial services, including life and non-life insurance.
Sony Group Corporation markets its products through sales subsidiaries, distributors, and direct sales through the Internet. The company owns several brands such as Sony, PlayStation, Walkman, Blu-ray, Cyber-shot, Bravia, Exmor, Experia, and Airpeak. The company has operations in Asia-Pacific, Europe, the Middle East, Africa, and the Americas.
Handheld Game Console Product Types Specification
|
Product |
Product Description |
|
PlayStation Portable |
PSP-1000 Series The new style of portable game consoles. It offers immersive games with 3D graphics but also video and music entertainment of exceptional quality. Convenience was paramount in the compact and symbolic design of the PSP. The curved body easily fits in the hands of various gamers. On the front panel, the controls are carefully organized to allow users to focus on video content. |
Business Strategy
Sony Group Corporation has a robust focus on the development of new products and has done significant investments in R&D. The company also expanding its R&D facilities to develop innovative products and technologies. For instance, Sony Group Corporation announced the establishment of Sony Research Inc., which is to undertake research and development of unprecedented disruptive technologies that aim to empower creators around the world to maximize their creativity, the value of their IP, and fan engagement. This research center will focus on the areas of Sensing, AI, and Virtual Spaces.
Sony Group Corporation has introduced new products that can utilize the professional-use drone Airpeak S1 for industrial purposes. Similarly, it has launched a measurement service and dedicated software for the 360 Virtual Mixing Environment ("360VME"). Furthermore, the company is focusing on launching cloud platforms to strengthen its portfolio offerings. It has announced the launch of the SFA - Life Sciences Cloud Platform, which is Sony's first cloud service for life sciences, which was developed based on the needs of research sites and the knowledge gained from providing advanced flow cytometers such as the ID7000.
Moreover, the company strives to strengthen its business portfolio through strategic acquisitions, mergers, and collaborations. For instance, it has signed an agreement for the acquisition of Bungie, Inc. This acquisition will give Sony Interactive Entertainment access to Bungie’s world-class approach to live game services and technology expertise, furthering SIE’s vision to reach billions of players. Additionally, it collaborated with Fnatic for its INZONE Gaming Gear Development.
S.W.O.T Analysis
Strength
Robust brand portfolio
Strong focus on innovation
Focus on providing high-quality products
Broad range of products
Diverse global reach
Weakness
Overdependence on electronics
High-price Products: Sony provides premium products with higher price tags than other players. This is a serious flaw because the cost turns away a lot of potential clients.
Opportunity
Expansion of business in emerging markets
Diversification of product portfolio, expanding its portfolio into other related markets
Growth of the e-commerce sector globally
Threats
Low-cost product range of competitors
Changes in exchange rates
