Handheld Gaming Console Market To Reach USD 18.4 Billion By 2032, Says DataHorizzon Research
The handheld gaming console market size valued at USD 8.1 Billion in 2023 and is anticipated to reach USD 18.4 Billion by 2032 at a CAGR of 9.6%.
Fort Collins, Colorado, May 02, 2024 (GLOBE NEWSWIRE) -- *
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*The popularity of handheld gaming consoles drives the industry's growth.*
*Handheld gaming consoles *have experienced a surge in popularity since the 1990s, with Nintendo emerging as a dominant force in the industry. The competition between Nintendo and Sony has fostered market growth, driven innovation, and introduced new products over the past decade. In 2022, handheld gaming consoles accounted for 50% of the overall market share and are expected to continue attracting growth in the foreseeable future.
Several factors have contributed to the development of the handheld gaming console market, including unique gaming experiences, portability, convenience, and the emergence of gaming communities and social features. Handheld consoles offer distinctive features that cannot be easily replicated on other platforms, such as multiplayer capabilities, community integration, and social sharing, which enhance the overall gaming experience and drive user engagement.
The CES 2024 served as a platform for unveiling numerous consumer electronics and tech products slated for release in 2024. Among these innovations, MSI introduced the groundbreaking 'MSI Claw,' hailed as the world's first handheld gaming console. Equipped with ultramodern specifications and features, the MSI Claw boasts 65W PD USB charging and supports Android mobile gaming via the MSI app player, offering access beyond the Windows gaming library. Notably, its extended battery life and superior power efficiency, boasting a 70% increase over traditional gaming consoles, set it apart as a revolutionary addition to the gaming market.
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*Segmentation Overview:*
*The handheld gaming console market has been segmented into type, end-user, and region.*
*Multi-function handheld gaming consoles have become popular.*
· The handheld gaming console market has been segmented based on type into single-function and multi-function. Multi-function handheld gaming consoles dominate the market growth due to their popularity and communication features.
*Children are the major end-users of handheld gaming consoles.*
· The handheld gaming console market is bifurcated into children and adults based on the end-user. Children are the major end-users of handheld gaming consoles. The child age group between 10 and 15 is most likely to be attracted to gaming devices.
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*Handheld Gaming Console Market Report Highlights:*
· The handheld gaming console market growth is anticipated at a *CAGR of 9.6% by 2032.*
· Handheld gaming consoles are portable gaming devices mainly designed for playing video games. These are comprised of control buttons and a built-in screen.
· North America is a major market that is projected to remain dominant in the coming years. Factors such as increasing disposable income, strong gaming culture, and the presence of tech-savvy consumers will create favorable market conditions.
· Some prominent handheld gaming console market players include Nintendo, Nvidia, Playstation Vita, Razer Edge, LeapFrog, GCW-Zero, Logitech, OUYA, Tommo, and Apple.
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*About DataHorizzon Research:*
DataHorizzon is a market research and advisory company that assists organizations across the globe in formulating growth strategies for changing business dynamics. Its offerings include consulting services across enterprises and business insights to make actionable decisions. DHR’s comprehensive research methodology for predicting long-term and sustainable trends in the market facilitates complex decisions for organizations.
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