Household Motion Sensing Game Consoles Market is anticipated to grow at a CAGR of 17.78% During 2022-2028
As the world becomes increasingly connected, more and more people are turning to video games for entertainment. And with that trend comes a desire for more immersive experiences, which is why motion-sensing gaming consoles are on the rise.
The global Household Motion Sensing Game Consoles Market is anticipated to grow at a CAGR of 17.78% during the forecast period 2022-2028. This growth can be attributed to increasing consumer adoption of new technology in this domain and the expansion of the gaming market.
Major Key Players | Household Motion Sensing Game Consoles Market
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The study elaborates growth rate of the Household Motion Sensing Game Consoles market supported and analyzed after exhaustive and reliable company profile analysis. The study offers an in-depth investigation, market size, share, insights, evaluation for developing segments, and numerous other important market characteristics in the Household Motion Sensing Game Consoles industry.
The global Household Motion Sensing Game Consoles market is segmented on the basis of product, region, and application. The product segment includes gaming consoles, GPS devices, and others. The regions covered are North America, Europe, Asia Pacific (APAC), and Latin America. The application segment includes home security, automotive diagnostic systems, and others.
Factors such as increasing investments in video games across various platforms including smartphones and tablets are expected to drive the demand for these gaming devices in households throughout the globe. Further growth is anticipated in APAC owing to rising consumer spending habits among regional population groups.
North America is expected to be the dominant region in terms of revenue during the forecast period due to its large population and high spending on leisure activities. Europe is also expected to witness significant growth over the next eight years, however at a slower rate than North America owing to its smaller population base and lower spending on leisure activities. Asia-Pacific is anticipated to grow rapidly over this period as gamers increasingly adopt these platforms for their gaming needs. The Latin American region is expected to experience moderate growth owing to its relatively low population base and limited spending on leisure activities.
The global Household Motion Sensing Game Consoles market has been segmented based on product type into digital games console and handheld devices. Digital games console segments are further sub-segmented into dedicated gaming consoles and general-purpose gaming platforms. The handheld devices segment is divided into three types–smartphones/tablets, dedicated handheld gaming platforms, and other handheld devices such as portable game players (PGP).
The digital games console segment dominated the global household motion sensing game consoles market in 2015 owing to its wide audience reach due to its availability in retail stores across geographies. However, tablets are expected
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The global Household Motion Sensing Game Consoles market is estimated to grow from USD 6.12 billion in 2022 to USD 12.32 billion by 2028, at a CAGR of 17.78% during the forecast period. The growth is likely to be attributed to the increasing adoption of smart home features and increasing demand for immersive gaming experiences. Factors such as rising disposable incomes, growing trends of virtual reality (VR) and augmented reality (AR), increase in the use of Smart TVs, and growth of online games are contributing to the market growth.
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