Gaming Console Market Size

Gaming Console Market size was estimated at USD 26.8 billion in 2024 and is projected to attain USD 49.2 billion in 2037, surging at a CAGR of 5.2% during the forecast period i.e. 2025-2037. In 2025, the industry size of gaming console is assessed at USD 28.1 billion.

The gaming console market is fostered by a web of technological advancements, as well as changes in consumer preferences and the broadening appeal of gaming as a global entertainment medium. Online multiplayer gaming and cloud-based services have further enhanced the gaming ecosystem with new business models of subscription services such as Xbox Game Pass, PlayStation Plus, and game streaming platforms.

Such services are increasingly more available, allowing one to access a rich library of games conveniently without requiring significant memory storage capacity or high-end hardware requirements, making the gaming experience more accessible and adaptable. Moreover, social, entertainment and multimedia elements have been incorporated into gaming consoles, thus making them a more appealing electronic device. For instance, in August 2024, Analogue Pocket launched its slim, up-to-date, portable gaming console dedicated to the celebration and research of game-playing history. It featured an entire body made of CNC-machined aluminum.

Furthermore, modern consoles are now cemented as part of the entertainment appliances in your home and further portray their role in the digital world. In conclusion, the gaming console market is thriving owing to a combination of technological innovation, changing consumer demands, digital services, and the mainstreaming of gaming culture. For instance, in September 2023, Lenovo unveiled fresh innovations in gaming, software, visuals, and accessories for holidays such as Lenovo Legion, ThinkVision, Lenovo Wired VOIP Headset, and Lenovo Wired ANC Headset Gen 2. Thus, continued improvements will propel the gaming console market.