Portable Video Game Consoles Market
Portable Video Game Consoles Market Analysis By Type (Single Function Gaming Consoles, Multifunction Gaming Consoles), By Product (PlayStation 5, Xbox, Razer Switchblade, PlayStation Vita, Nintendo Switch Lite), By Platform (iOS, Android, Windows, Others) & By Region - Global Market Insights 2023 to 2033
Analysis of Portable Video Game Consoles Market Covering 30+ Countries Including Analysis of US, Canada, UK, Germany, France, Nordics, GCC countries, Japan, Korea and many more
Portable Video Game Consoles Market Outlook (2023 to 2033)
Global demand for portable video game consoles is predicted to increase at a CAGR of 6% from 2023 to 2033. At present, the global portable video game consoles market is valued at US$ 15 billion and is thus expected to amount to US$ 27 billion by the end of 2033.
Portable video game consoles are self-contained, simple handheld gaming systems. They incorporate the display, console, speakers, and controls into a single unit, enabling the user to carry and play them at any location or time easily.
These devices 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 a recharge. A few portable video game consoles may include extra features such as internet connectivity and cloud gaming.
Escalating demand for mobile gaming is among the key factors propelling global market growth. Mobile gaming is one of the most rapidly growing industries in the world. In recent years, mobile games have emerged as a popular form of entertainment for people of all ages. With the development of sophisticated tablets and smartphones, there has been a significant increase in demand for mobile games on portable video game consoles.
- For example, Razer announced a portable gaming dev kit in November 2021 using the brand-new Snapdragon G3x CPU. The Snapdragon G3x Gen 1 Gaming Platform provides improved performance and a complete set of Snapdragon Elite Gaming technologies to support all Android games and allow users to stream games from the PC or home console, play content from cloud gaming libraries, and enjoy entertainment from their favorite Android apps.
Ongoing technological advancement is bolstering the growth of the global market. The gaming console business is witnessing a significant expansion as the number of players increases. This is owing to the rapid advancement of technology, such as enhanced audio-visual systems, which are pushing the global demand for portable video game consoles.
Other factors that are supporting the market growth include the availability of various options to meet customers' needs, rising disposable incomes, and the several benefits offered by gaming consoles, which enable users to browse the internet, download audio and videos, watch videos while playing games, and listen to music. Such aspects are projected to raise the consumption of portable video game consoles over the study period.
Portable Video Game Consoles Market Size (2023)
US$ 15 billion
Projected Market Value (2033)
US$ 27 billion
Global Market Growth Rate (2023 to 2033)
Leading Regional Market
Nintendo Switch Lite
Key Companies Profiled
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Why are Portable Video Game Consoles Flying off the Shelves?
“Advent of Cloud-based Gaming”
The development of cloud-based gaming is boosting the demand for portable video game consoles. The term "cloud-based gaming" refers to a gaming paradigm in which all or the bulk of game processing takes place on remote servers rather than locally deployed hardware in players' homes, workplaces, and so on.
- For example, Logitech introduced a portable cloud video game console in September 2022. The Logitech G Cloud is a portable video game console that focuses mainly on cloud gaming services such as Nvidia GeForce Now and Xbox Cloud Gaming. The Logitech G Cloud costs less, weighs less, and has an extended battery life. It has adequate computer capability to execute cloud gaming services in terms of internal specifications.
Several start-ups are also focusing on launching portable cloud video game consoles
- For example, in collaboration with Tencent, Abxylute, a Canadian start-up, introduced a cloud-gaming handheld in 2021.
“Growing Demand for Wireless and 3D Gaming Consoles”
3D gaming is garnering immense popularity around the world. High demand for 3D game consoles is a major aspect accelerating the expansion of the worldwide market. On a built-in high-resolution monitor, 3D gaming consoles offer stereoscopic graphics gameplay. Moreover, 3D gaming features such as flawless 3D localization enhance the user experience and add reality to the games.
The development of 3D games is expected to drive market growth in the future years.
- For example, Nintendo released a 3D Mario collection for the Switch in March 2021. Nintendo launched Super Mario 3D All-Stars in small numbers only for the Nintendo Switch line of platforms.
Growing demand for game consoles based on modern wireless technologies such as Bluetooth 5.0, Wi-Fi, and others will fuel market expansion. To provide an enhanced experience to their users, key firms such as Sony Corporation and others are offering game consoles centered on wireless technologies. Furthermore, these enhanced consoles would assist players in improving their entire game-play experience and eliminating the need for wired accessories.
How are Market Players in the United States Ensuring Their Growth?
“Strong Focus on Advanced Portable Gaming Consoles”
As per Fact.MR, a market research and competitive intelligence provider, North America is spearheading the global portable video game console industry. Market players in the United States are focusing on introducing advanced portable gaming consoles.
- For example, Valve Corporation launched a portable gaming console with cloud streaming and 3D capabilities in the United States in February 2022.
Why are Japan, South Korea, India, and China Exhibiting High Demand for Portable Video Game Consoles?
“Rapidly Rising Number of Gamers across These Countries”
The Asia Pacific market is growing at a considerable pace. The presence of prominent firms such as Nintendo Co. Ltd, Sony Corporation, and others in the region are contributing to the regional market growth. Furthermore, these firms are focusing on connecting portable video game consoles with advanced technologies, such as 5G networks, cloud-based streaming, and Blockchain.
South Korea, Japan, China, and India are witnessing increasing demand for portable video game consoles due to a burgeoning number of gamers in these countries.
Which Factor is Driving the Sales Growth of Portable Video Game Consoles in the United Kingdom and Germany?
“Increasing Customer Spending on Video Games”
Europe is making significant contributions to the worldwide market. The United Kingdom and Germany are seeing growing sales of portable video game consoles due to increasing consumer spending on video games, gaming hardware, and gaming controllers.
- As per UK Interactive Entertainment (Ukie), customer spending on games in the United Kingdom was valued at approximately US$ 7.40 billion in 2018.
Various active gaming enterprises are also contributing to the growth of the United Kingdom market.
- According to Ukie, there were around 2,271 active gaming firms in the United Kingdom in 2020.
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Which is the Leading Product in the Worldwide Market?
“Booming Sales of Nintendo Switch Lite”
Sales of Nintendo Switch Lite are booming globally, boosting the global market for handheld gaming consoles.
- According to the Verge, an American technology news website, Nintendo Switch, Switch OLED, and Switch Lite sold 8.3 million combined units between October 1st and December 31st, 2022, increasing the console's total lifetime sales to 123.55 million since its introduction in 2017. This puts the Nintendo Switch ahead of the 117.69 million combined units sold by the Game Boy and Game Boy Color (both of which Nintendo classifies as "Game Boy") and the final 116.2 million unit total provided by Sony for the PS4.
- As per the same source, the top-selling video games for the Nintendo Switch Lite are Mario Kart 8 Deluxe (18.01 million), Super Smash Bros. Ultimate (14.71 million), and Super Mario Odyssey (14.38 million).
The global market is extremely competitive. There are several firms that provide portable gaming consoles, each with its own set of advantages and disadvantages. Top companies in the portable video game consoles market are implementing tactics such as collaborations, investments, and technological breakthroughs to strengthen and broaden their global presence.
- Logitech G and Tencent Games collaborated in August 2022 to bring to market a cloud gaming handheld that combines Logitech G's hardware capabilities with Tencent Games' software offerings. The new device will support numerous cloud gaming services, allowing gamers to play AAA games without having to connect to their console or PC.
- Valve unveiled the Steam Deck portable video game device in July 2021. This new product directly competes with Nintendo's Switch range. The Valve Steam Deck features an AMD processor, a 7-inch touchscreen display, and several buttons. The Steam Deck runs SteamOS 3.0, which is based on Linux. Valve, on the flip side, claims that the Steam Deck can run a variety of Linux versions as well as Windows 11.
- AYANEO introduced the AYANEO NEXT 2, a handheld game console with an AMD Radeon 6000 GPU or Intel ARC, in June 2022. In addition, this is the first gaming console to feature Intel's ARC Alchemist GPU.
- Meizu released the PANDAER x AYANEO OLED Windows portable console with Ryzen 5 5560U in June 2022. The PANDAER x AYANEO, a handheld games system, is simply an AYANEO AIR Pro console with different customizations. The PANDAER logo and artwork can be found on the console's back panel. The PANDAER x AYANEO gaming console is powered by a 7,350 mAh battery. It also supports Bluetooth 5.2 and Wi-Fi 6.
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Key Segments of Industry Research
By Type :
- Single Function Gaming Consoles
- Multifunction Gaming Consoles
By Product :
- PlayStation 5
- Razer Switchblade
- PlayStation Vita
- Nintendo Switch Lite
By Platform :
By Region :
- North America
- Latin America
- Asia Pacific & China
- Middle East & Africa
- FAQs -
The global portable video game consoles market is valued at US$ 15 billion in 2023.
The market for portable video game consoles is projected to reach US$ 27 billion by 2033.
Worldwide demand for portable video game consoles is set to evolve at a CAGR of 6% from 2023 to 2033.
North America is predicted to lead the global market during the forecast period.
Microsoft Corporation, Atari SA, Nintendo Co., Ltd, Sega Games Co., Ltd, Sony Corporation, Valve Corp, Nvidia Corporation, Mattel Inc, NEC Corporation, Vtech, Bit Corporation, Mad Catz Interactive, Inc, and Razer Inc are key players operating in the globa