Portable Gaming Console Market - Size, Industry Share, Growth Trends and Forecasts (2024 - 2031)

By Type:

Based on type the market is bifurcated into Mobile Gaming Console and Tablet Gaming Console.

Trends in the type:

• Increasing involvement of mobile gaming in the Esports scene, with competitive tournaments and professional teams focusing on mobile games.

The mobile gaming console segment accounted for the largest revenue share in 2023 and is anticipated to register the fastest CAGR during the forecast period.

• The widespread use of smartphones worldwide enables a large number of consumers to easily access mobile gaming.
• These mobile gaming phones are equipped with powerful processors, high-refresh-rate display, and advanced GPU, enabling a high-quality gaming experience for the users.
• In April 2023, ASUS Republic of Gamers (ROG) introduced the ROG Phone 7 series of gaming smartphones, which includes the ROG Phone 7 and ROG Phone 7 Ultimate models. These devices aim to provide a high-performance gaming experience on the go, with power efficiency that allows games to run smoothly at low temperatures and a Qualcomm Adreno 740 GPU.
• Hence, trends in mobile gaming consoles continue to evolve with better features and are anticipated to accelerate portable gaming console market growth.

By Products:

Based on product the market is segmented into Nintendo Switch, PlayStation, Analogue Pocket, GPD Win, and Others.

Trends in the product:

• The GPD Win offers portable gaming PCs running full versions of Windows, which are gaining popularity for their ability to run high-end PC games.

The Nintendo Switch segment accounted for the largest revenue share in 2023.

• Nintendo Switch can function as both a handheld device and a home console offering versatility that appeals to a broad range of gamers.
• Features including detachable controllers, motion controllers, and an OLED screen for better visuals enhancing the on-the-go gaming experience.
• In October 2021, Nintendo released the Nintendo Switch OLED model, featuring a 7-inch OLED screen for more vibrant visuals, improved audio, a wide adjustable stand, detachable Joy-Con controllers, and 64 GB of internal storage, offering 3 playing modes including TV mode, Tabletop mode, and handheld mode to enhance flexible gaming experience.
• Consequently, as per the analysis the ability of Nintendo Switch to function in different playing modes allowing versatility and flexibility in gaming, is proliferating the global portable gaming console market trend.

The PlayStation segment is anticipated to register the fastest CAGR during the forecast period.

• <1>PlayStation encompasses a series of home video game consoles, handheld consoles, and a comprehensive online service.
• It focuses on remote play services that enhance portable PlayStation devices to play high-quality games on the go without requiring local hardware.
• Additionally, advancements in technology and gaming hardware innovations including controllers, joystick, speakers, and others, when paired with Playstation produce powerful and efficient gaming consoles that enhance the gaming experience.
• In December 2023, Sony Interactive Entertainment introduced the Access controller for the PlayStation 5 console with various hardware and software customization choices. This allows users to design their control setups for extended and more comfortable gaming experiences.
• Thus, the trend of PlayStation is increasingly being adopted for high-quality gaming experiences, anticipating to boost the portable gaming console market demand.

By Sales Channel:

Based on sales channels the market is segmented into Online, Retail, Specialty Stores, and Others.

Trends in the sales channels:

• Retailers are enhancing omnichannel strategies, enabling customers to order online and pick up at the store while offering easy exchange and after-sale services.
• Specialty stores are increasingly focusing on catering to professional gamers by offering high-end and rare gaming consoles and gaming accessories.

The online segment accounted for the largest revenue share of 53.45% in 2023 and is anticipated to register the fastest CAGR during the forecast period.

• Online shopping offers a seamless and convenient experience, allowing customers to browse and buy flexibly.
• Expanding E-commerce platforms provide access to a broad range of products, including specialized and latest gaming consoles.
• Moreover, increasing investment in e-commerce platforms is proliferating the online segment.
• For instance, these gaming consoles are available on the official websites of key players including Nintendo, Sony, and others. Additionally, these consoles are being sold on e-commerce sites, boosting the online segment.
• Therefore, as per the analysis of the rising investments in e-commerce companies, the online segment is expected to grow the portable gaming console market opportunities during the forecast period.

By End-User:

Based on end-user the market is segmented into professional gamers, casual gamers, and others.

Trends in the end-user:

• Increasing use of portable gaming consoles for educational purposes and entertainment, with games and applications designed to teach skills and interactively provide educational content.

The casual gamers segment accounted for the largest revenue in 2023 and is anticipated to register the fastest CAGR during the forecast period.

• Casual gamers encompass a wide demographic including all age groups, seeking to enjoy gaming for entertainment and relaxation.
• Casual gamers often enjoy multiplayer and family-friendly gamers, which are well supported on these gaming consoles, encouraging social interaction and group play.
• For instance, Nintendo Switch is designed with ease of use, making it accessible and a preferable choice to casual gamers with versatility in gaming experience. Additionally, enables them to connect with family and friends for entertainment and relaxation.
• Thus, as per the analysis casual gamers seek gaming for entertainment and pleasure necessitating high-performance consoles, boosting the portable gaming console market share.

Regional Analysis:

The regions covered are North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.

North America is estimated to reach over USD 6,825.57 Million by 2031 from a value of USD 4,108.48 Million in 2023 and is projected to grow by USD 4,304.39 Million in 2024. The region benefits from early adoption of technological advancement including AI integration on gaming consoles to enhance and contribute to the gaming culture.

• In May 2023, NVIDIA (US) unveiled the GeForce RTX 4060 gaming console featuring two graphics cards that boast the latest NVIDIA Ada Lovelace architecture, including DLSS 3, highlighting the increasing significance of AI in live games by generating improved frames for a more seamless gaming experience. When paired with DLSS Super Resolution, it significantly boosts performance by utilizing artificial intelligence to generate higher-quality frames from lower-quality input.

Asia-Pacific region was valued at USD 2,995.36 Million in 2023. Moreover, it is projected to grow by USD 3,147.62 Million in 2024 and reach over USD 5,155.79 Million by 2031. Out of this, China accounted for the maximum revenue share of 38.5%.

According to analysis, Asia-Pacific is the fastest-growing market driven by countries including China, Japan, and South Korea. The high prevalence of mobile gaming with increasing demand for hybrid and gaming consoles. Additionally, rapid technological advancements and high adoption rates of gaming technologies are anticipated to grow the portable gaming console market trend.

Europe plays a major role in the portable gaming console market, known for its varied gaming preferences in different countries, with a strong presence in Western Europe. The market is influenced by a strict regulatory environment concerning content and age ratings, which shapes consumer behavior and product offerings. Gaming is deeply integrated into cultural activities, with a large number of casual gamers driving the portable gaming console market demand.

The Middle East and Africa represent a nascent but promising portable gaming console market, with gradual growth driven by increasing investment in the digital and entertainment sectors. This region benefits from the large youthful population, considered to be potential customers for the gaming console, which is fostering the expansion of the portable gaming console market opportunities.

Latin America is an emerging market in the portable gaming console industry, experiencing rapid growth driven by increasing internet penetration and smartphone usage. Despite economic challenges, the region is seeing a cultural shift with gaming becoming mainstream for entertainment.