The global portable gaming console market is estimated to reach a valuation of USD 17 billion by the year 2032 at a CAGR of 6% during the forecast period(2024-2032). Portable gaming consoles are compact, self-contained video game systems that can be held in one's palm. The units incorporate the speakers, console, display, and controls into a single device, enabling users to conveniently transport and utilize them anywhere and anytime. The rising demand for 3D video games with Augmented Reality (AR) and Virtual Reality (VR) functionalities, as well as the expansion of e-sport competitions worldwide, are the primary factors propelling the growth of the global market. It is anticipated that the proliferation of gaming consoles will increase in tandem with developments in fundamental wireless connectivity. It is expected that the development of smart games and applications that utilize virtual assistant services will propel the market in the near future. Major participants are investing in the development and release of premium and high-performance portable gaming consoles, also known as mobile gaming consoles, as part of a strategic initiative.
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
The evolution in display technology and increased adoption of visual display resolutions in gaming consoles is driving the portable gaming console market forward.
Several market participants are transitioning from conventional high-definition television (HDTV) and standard-definition television (SDTV) to full-high-definition television (FHDTV) and advanced ultra-high-definition television (UHDTV). Ultra-high-definition resolution encompasses display resolutions of 4K, DCI 4K, and 8K. Prominent market players in the said market are in the process of developing portable gaming systems and handheld gaming consoles with display resolution capabilities for UHDTV and HDTV. For instance, in 2018, Microsoft Corporation introduced their high-end gaming video game console "Project Scorpio", which utilizes VR and 4K technology.
Additionally, the introduction of various portable gaming console controllers and accessories, including 4K televisions, 3D audio headphones, and keyboards, has contributed to the expansion of the gaming console market. These accessories provide users with an improved gaming experience. Additionally, the implementation of haptic vibration, Blu-ray, and wireless connectivity technologies is anticipated to have a positive impact on market revenue throughout the forecast period.
The global portable gaming console market is segmented based on type, application and end-use.
Based on Type insights, the global portable gaming console market is further bifurcated into home gaming consoles and handheld gaming consoles, out of which the home consoles segment dominates the market share in terms of revenue and is said to witness the highest CAGR during the forecast period. The growth of the market is due to the increased adoption of cloud services and the rapidly increasing number of online gamers across the world, predominantly in the United States, China and India.
In addition, the handheld gaming console category is projected to experience a consistent compound annual growth rate (CAGR) during the forecast period which is mostly due to the presence of a small number of companies participating in this market. Major industry leaders, like Nintendo Co., Ltd. and other companies, are prioritizing the expansion of their brand presence by introducing cutting-edge and inventive gaming consoles on a global scale.
Based on application insights, the said market is further divided into gaming applications and non-gaming applications, out of which the non-gaming segment marginally betters the latter one to dominate the market share owing to the rising demand for such high-end consoles to be integrated with extensive streaming services like YouTube, Netflix, Amazon Prime Video and other such platforms. Still, the gaming segment is said to witness the highest growth rate in the coming times, with some crucial advancements in handheld gaming consoles.
Based on End-Use insights, the portable gaming console market is segmented into residential and commercial use, where the residential use of portable gaming consoles is higher, which is why the said segment owes the major market share. Increasing demand for gaming accessories, such as gaming mice, 3D gaming headsets with integrated microphones, and game-enabled televisions, is the primary driver of market expansion. The introduction of smart televisions featuring advanced display resolutions, including 4K and 8K, is anticipated to contribute to the robust expansion of the home console market in the residential sector. Because they provide a more immersive gaming experience compared to alternative display varieties. It is expected that the integration of VR and AR technologies will significantly enhance the gaming experience on home consoles. In addition, the commercial sector is anticipated to expand at a consistent CAGR over the forecast period. One of the principal factors propelling the expansion of the commercials sector is cloud gaming. Cloud services facilitate the storage and protection of vast quantities of gaming data using enhanced security measures. Furthermore, major market participants in the portable gaming console market are incorporating cloud services into gaming consoles to offer a "game-as-a-service" paradigm in which users have access to game content on demand.
The global portable gaming console market is primarily studied across four major regions, namely North America, Europe, Asia-Pacific and the Rest of the World. Out of which the North American region holds the major market share among all the other regions.
Considering the North American region, it is expected that the commercial sector will have steady growth at a higher compound annual growth rate (CAGR) during the forecast period. Cloud gaming is a major growth driver in the North American portable gaming console market. Cloud services enable the storage and safeguarding of large amounts of gaming data using advanced security procedures. In addition, prominent market players are integrating cloud services with gaming consoles to provide a "game-as-a-service" model, allowing customers to access and play game material whenever they want.
Followed by the North American region, the Asia-Pacific region has the highest growth rate in the global portable gaming console market due to the rising disposable income of the populace and is anticipated to experience substantial growth over the next few years. Rapid economic expansion is being observed in emerging nations of the region, such as China and India. Consumers are now capable of procuring gaming consoles and associated content due to an increase in disposable income. As a result, the market demand for portable gaming consoles is propelled by the region's rapidly expanding youth gaming population.
Europe is anticipated to experience significant growth at a steady CAGR throughout the period of forecast. The expansion of the gaming console industry in Europe is primarily propelled by rising consumer expenditures in nations such as the United Kingdom, Germany, France, Spain, and Italy, among others. The expansion in the United Kingdom can be attributed to the existence of numerous active gaming companies.
The global portable gaming console market is actively operated by some of the giants in the technology sector like Nvidia Corp., Valve Corp., Microsoft Corporation (US), Sony Corporation (Japan), Playjam, Vtech (China), Bit Corporation (Taiwan), OUYA Inc., Mattel Inc. (U.S.), Mad Catz Interactive Inc., NEC Corporation (France), and many others. These players especially focus on innovation and providing maximum product differentiation to build the portable gaming console market size. These competitive players include players, mergers, acquisitions, and partnerships with companies of the same or other regions impacting market trajectory. These players make good business decisions and use those opportunities in a better way.
The news that Microsoft is planning on releasing an Xbox game handheld in 2024 for the first time became public through an FTC document last year, which was then supported by another leak in March stating that they would release their first portable console in 2026. Now, they have sent out a survey asking people about their current usage of handheld gaming devices and what they think about them. One interesting thing is that it asked if users would consider buying another handheld gaming PC within five years, as well as what led them to buy one before this time period began; so all signs point towards yes–Microsoft most likely is creating an Xbox handheld gaming device. The same survey also inquired about how important being able to stream games via Xbox Game Pass was when compared to other qualities like design or price range (suggesting either more emphasis should be placed upon game services or new hardware needs produced).
Asus has launched its ROG Ally in India at Rs 69,990. This is a portable gaming console that claims to provide the best gaming experience on a portable screen. It looks like an XBox controller with buttons on either side inspired by the XBox itself. The product was unveiled globally back in May, and since then, Indian gamers have been waiting for their 'Ally' to come over here.
In September, Lenovo released its first-ever handheld gaming device called the Legion Go for global markets- competing against Asus ROG Ally, Steam Deck, and Nintendo Switch, among others from rival companies. However, they did not bring it to India, where only one such console officially exists, i.e., Asus ROG Ally, etc, but now plans are underway for them to do so soon.
January 2024: In January 2024, NVIDIA introduced the GeForce NOW cloud gaming service for Android TV that allows users to stream PC and console games on their NVIDIA Shield TV and other compatible devices.
October 2023: In October 2023, Valve Corporation released their new product update, SteamOS 3.4, for the Steam deck that offers improvements in performance, battery life, and compatibility.
| Report Attribute/Metric | Details |
| Market Size 2032 | USD 17 Billion |
| CAGR | 6% (2024-2032) |
| Base Year | 2023 |
| Forecast Period | 2024-2032 |
| Historical Data | 2018 |
| Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | By Type, Product and Region |
| Geographies Covered | North America, Europe, Asia-Pacific, and Rest of the World (RoW) |
| Key Vendors | Microsoft Corporation (U. S.), Nintendo Co., Ltd., (Japan), Sony Corporation (Japan), Nvidia Corporation (U. S.)., Mad Catz Interactive, Inc. (U. S.) |
| Key Market Opportunities | Global portable gaming console market is more attractive in the APAC region. Digitally the gaming consoles have made the market profitable. |
| Key Market Drivers | The sensors in it offer real-time motion sensing which provides a gaming experience to the users. |
Research Analyst Level II With a technical background in information technology & semiconductors, shubham has 4.5+ years of experience in market research and analytics with the tasks of data mining, analysis, and project execution. he is the poc for our clients, for their consulting projects running under the ict/semiconductor domain. shubham holds a bachelor’s in information and technology and a master of business administration (mba). shubham has executed over 150 research projects for our clients under the brand name market research future in the last 2 years. his core skill is building the research respondent relation for gathering the primary information from industry and market estimation for niche markets. he is having expertise in conducting secondary & primary research, market estimations, market projections, competitive analysis, analysing current market trends and market dynamics, deep-dive analysis on market scenarios, consumer behaviour, technological impact analysis, consulting, analytics, etc. he has worked on fortune 500 companies' syndicate and consulting projects along with several government projects. he has worked on the projects of top tech brands such as ibm, google, microsoft, aws, meta, oracle, cisco systems, samsung, accenture, vmware, schneider electric, dell, hp, ericsson, and so many others. he has worked on metaverse, web 3.0, zero-trust security, cyber-security, blockchain, quantum computing, robotics, 5g technology, high-performance computing, data centers, ai, automation, it equipment, sensors, semiconductors, consumer electronics and so many tech domain projects.
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