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Gaming Console Market Valued USD 34.3 Billion in 2020 and Projected to Grow at 5.37% CAGR During 2021 to 2030 – Report by Market Research Future (MRFR)

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According to a comprehensive research report by Market Research Future (MRFR), “Global Gaming Console Market information by Type, by Application, End User and Region – forecast to 2030“, market was settled at USD 34.3 BN in 2020, which is expected to expand further at 5.37% CAGR during the forecast period (2021-2030).  

Key Players Involved In The Gaming Console Market:

  • Microsoft Corporation (US)
  • Sony Corporation (Japan)
  • Nintendo Co., Ltd. (Japan)
  • Valve Corporation (US)
  • Logitech Inc. (Switzerland)
  • NVIDIA Corporation (US)
  • BlueStacks (US)
  • PlayJam (UK)
  • OUYA Inc. (US)
  • Atari (US)
  • Sega (Japan)

Huge Popularity of 3D Gaming Drives the Market
The gaming console market is constantly growing, witnessing vast demand. The rapidly growing gaming market drives the demand for these consoles. 2020 was a dynamic year for the online gaming & gambling market. Besides, government initiatives for supporting the online gaming industry and subtle federal restrictions allow the gaming console market to garner significant revenues. With more legal breakthroughs expected in gaming in 2021 and beyond, the market is expected to garner significant gain in the years to come.

Players like Sony, Microsoft, and NVIDIA are seeing new opportunities to foster their global footprints markets that could mean big things. This also means that gaming console markets would garner significant traction worldwide during the years ahead. Besides, advances in various related technologies are expected to foster the global gaming console market size.

Industry Trends:
Rapid improvements in networking technologies and gaming platforms are projected to increase the gaming console market size, registering significant revenue growth and user screen time. Moreover, the growing adoption of smartphones and vast developments in technologies such as virtual reality (VR) and artificial intelligence (AI) are major trends accelerating the demand for gaming consoles.

The rising popularity of 3D video games and increasing numbers of e-sport tournaments boost market revenues. Besides, the rising popularity of competitive games and increasing numbers of gamers influence the market growth. The gaming industry is evolving and rebuilding with the growth in technological upgrades. Advancement in core wireless connectivity is also a major factor positively impacting the market growth.

The advancement in wireless connectivity is anticipated to drive the gaming console market in future years. The 5G technology has opened new avenues in the connectivity landscape and transformed the gaming industry. Therefore, countries worldwide are investing heavily in 5G technology to gain broader microeconomic advantages.

Also, there has been a rapid increase in the adoption of Bluetooth, Wi-Fi and other communication technologies. Wi-Fi 6 and IoT are the major developments in wireless connectivity. Wi-Fi 6 offers groundbreaking possibilities for developing new products across the gaming industry.

Besides, the extensive uptake of online games in the education, media & entertainment sectors has allowed the market to garner vast momentum in recent years. The rising adoption of cloud gaming and increasing numbers of gaming arenas influence the market value. Also, the wide commercial and personal uses impact the cloud gaming market share.

Prohibitive Cost is a Major Headwind 
On the other hand, the high costs of gaming consoles restrict market growth. Also, the lack of skilled professionals poses challenges to the growth of the gaming console market in some countries.

Segmentation:
The gaming console market is segmented into types, applications, end-users, and regions. The type segment is bifurcated into home console, handheld console, hybrid console. The application segment is bifurcated into gaming and non-gaming. The end-user segment is bifurcated into personal and commercial. The region segment bifurcated into North America, Europe, Asia-Pacific, Middle East & Africa, and rest-of-the-world.

Regional Analysis
North America dominates the global gaming console market due to the rapidly growing gaming market in the region. Besides, increased demand for gaming consoles and improved Internet connectivity with high reliability boosts the market size in this region. The strong presence of key gaming console manufacturers, such as Microsoft, Valve Corporation, and NVIDIA, drives the regional market growth.

Also, various online gaming tournaments create significant demand for gaming consoles. Gaming is a rapidly growing segment in the entertainment industry in the US, encouraging the sales of the latest gaming devices and thus, contributing to the gaming console market shares in North America.

COVID-19 Impact
The onset of COVID-19 boosted the already booming gaming console industry, increasing public interest in online gaming. The pandemic and lockdown mandates worldwide allowed people more free time to involve in gaming and leisure activities. Besides, social distancing mandates are increasing the uptake of gaming accessories.

Also, increased uses of various cloud gaming services allow the gaming console market to witness a constant uptick over the past few months. Additionally, increasing investments by industry players to foster R&D activities offer significant market opportunities.

Competitive Analysis:
The gaming console market is expected to witness significant product launches and several strategic initiatives, such as collaborations, mergers & acquisitions, expansion, and product launches. Matured industry players make substantial strategic investments in research and development activities and foster their expansion plans.

For instance, recently, on Jan.11, 2022, Tencent Holdings (China) announced its plan to acquire Chinese gaming phone company Black Shark to build its own metaverse. The metaverse is a logical strategy for Tencent, and hence, this move would position Tencent in the leading place.

Tencent Holdings is the majority-owner of Tencent Music Entertainment and owner of WeChat and QQ Messenger. Black Shark is currently focusing on gaming-centric phones and hardware accessories, which will change to building virtual reality hardware. Technology giant Xiaomi is the majority shareholder in Black Shark currently.

In another instance, on Jan.05, 2022, Educational software company Picoo announced the development of a new video game console named after the company itself. The Picoo is a screen-less gaming console.

The new console looks like a PlayStation Move controller and comes with a one-handed remote, a wrist strap, and glowing light. It doesn’t have any buttons other than an On/Off switch. Instead, it uses a speaker, accelerometer, and vibration for play.

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Fennica Gaming Expands its Partnership with Loto-Québec by Launching eInstant Games

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Building on the momentum of its successful market entry, Fennica Gaming announced the expansion of its partnership with Loto-Québec by launching also its portfolio of eInstant games. This second phase follows the recent successful launch of Fennica Gaming’s online casino games, making its full suite of innovative online games available to players on Loto-Québec’s digital platform, the only legal online gaming offer in the province of Québec.

The launch of the eInstant portfolio completes the initial offering, delivering a diverse and engaging gaming experience designed with Fennica Gaming’s signature player-first approach. The move solidifies Fennica Gaming’s commitment to the Canadian market and its strategy of building long-term, sustainable partnerships with regulated lotteries and operators.

“Launching our casino games was the first step; following it up swiftly with our eInstants is about delivering on our promise. Our partnership with Loto-Québec is built on shared values of responsibility and providing engaging, high-quality entertainment. This isn’t just a content drop; it’s a commitment to our partner’s long-term success and to bringing fresh, reliable gaming experiences to the players in Québec,” said Joni Hovi, SVP of Customers and Marketing at Fennica Gaming.

“Our eInstants are designed with a Nordic innovativeness; they are intuitive, visually engaging, and extremely entertaining – built for sustainable fun. We’ve added the best of mobile gaming expertise, seasoned it with a high-quality, player-centric experience. We are confident that this creative energy offers a distinct flavour that will stand out and connect with players in Québec,” said Kirsi Lagus, SVP of Portfolio and Product Development.

The post Fennica Gaming Expands its Partnership with Loto-Québec by Launching eInstant Games appeared first on Americas iGaming & Sports Betting News.

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CGA Announces Leadership Evolution and 2026 Board of Directors

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Amanda Brewer becomes Senior Vice President of Policy & Communications and Brandon Aboultaif becomes Vice President of Western Canada; Salim Adatia (GLI) and Mike Maodus (Blake, Cassels & Graydon LLP) join the CGA Board as Scott Vanderwel (PointsBet Canada) is appointed Chair.

Amanda Brewer has joined the Canadian Gaming Association (CGA) as Senior Vice President of Policy and Communications, and Brandon Aboultaif has assumed the position of Vice President for Western Canada.

Amanda has served as a consultant to the Association for over 15 years, playing a pivotal role in achieving numerous CGA milestones. “I am confident she will apply her enthusiasm and expertise to this new position, which more precisely aligns with her ongoing contributions on behalf of our members,” said Paul Burns, President and CEO, CGA. Amanda remains actively engaged in AML and advertising bill initiatives in Ottawa, along with the Alberta consultation process, where the Association is collaborating with the Government of Alberta and AGLC to prepare the province for its iGaming market launch.

Brandon is the former Press Secretary to Dale Nally, Minister of Service Alberta and Red Tape Reduction and will be a great addition to the CGA. “With the Alberta market soon opening, it has been an important goal to expand our presence into the western part of the country,” added Mr. Burns. His key responsibilities include advancing industry research and education initiatives, supporting member engagement across Western Canada, and fostering collaboration on responsible gaming, innovation, and market development initiatives that strengthen Canada’s gaming ecosystem.

In addition, Salim Adatia, Managing Director, Canada for Gaming Laboratories International, LLC, and Mike Maodus, Partner, Blake, Cassels & Graydon LLP, have joined the CGA’s Board of Directors, and Scott Vanderwel, CEO for PointsBet Canada, becomes the Association’s new Chair.

The full 2026 board is as follows:

  • Salim Adatia, Gaming Laboratories International, LLC
  • Bruce Caughill, Rush Street Interactive
  • Peter Czegeldy, Aird & Berlis LLP
  • Neil Erlick, Nuvei
  • Kurt Gissane, Aristocrat
  • Charmaine Hogan, Playtech
  • Dale Hooper, FanDuel
  • Chuck Keeling, Great Canadian Entertainment
  • Mike Maodus, Blake, Cassels & Graydon LLP
  • Terry McInally, Gateway Entertainment
  • Niaz Nejad, Non-Member Director
  • Derek Ramm, Kinectify
  • Lindsay Slader, GeoComply
  • Richard Taylor, Niagara Casinos
  • Shane Thompson, Konami
  • Scott Vanderwel, PointsBet Canada (Chair)
  • Scott Woodgate, BetMGM

We are also pleased to welcome three past chairs as Emeritus members of the board:

  • Ilkim Hincer, IC360
  • Carrie Kormos, CK Consulting Inc
  • Bob Parente, Light & Wonder

“Amanda and Brandon have joined the CGA as full-time members to oversee several important national campaigns,” stated Scott Vanderwel, Chair of the Board. “We are also pleased to welcome Salim and Mike to the Board. The Board has worked closely with Paul over recent years to advance the Association’s leadership and board structure. We have full confidence in Amanda and Brandon as they step into these key roles, as well as in the valuable contributions that Salim and Mike are expected to bring as we prepare for an active 2026 workload.”

Mr. Burns stated that the newly announced executive and Board appointments will strengthen CGA’s position and support its expansion into Western Canada. “Amanda brings extensive CGA experience, while Brandon contributes knowledge of government policy at both federal and provincial levels. Coupled with our enhanced Board, I am confident they will help drive CGA’s objectives and ongoing growth.”

Source: canadiangaming.ca

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Adam Pentecost Chief Revenue Officer at Gaming Corps

Gaming Corps partners with BetMGM for exclusive Ontario launch

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Gaming Corps – a publicly-listed game development company based in Sweden, has announced a landmark content partnership with BetMGM, a leading iGaming and sports betting operator, marking BetMGM as the first partner to bring Gaming Corps’ full portfolio to players in Ontario. The exclusivity will run for an initial period before the portfolio is rolled out more widely in the market.

The agreement brings BetMGM players in Ontario the full force of Gaming Corps’ premium line-up, from blockbuster titles like 3 Pigs of Olympus and Gates of Hellfire to signature mechanics including the adrenaline-fuelled A-MAZE-CADES™ and instant-win Smash4Cash™ series.

Available at BetMGM Casino, the portfolio also features the innovative X-MY-WAY™ challenge, as seen in Hoop Champion and Golf Champion, which introduces new layers of interactivity and personalised gameplay experiences.

Adam Pentecost, Chief Revenue Officer at Gaming Corps, said: “Ontario has quickly become one of the most exciting regulated markets in North America, and we’re thrilled to be making our debut with BetMGM as our first operator partner in the province. The opportunity to launch with such a high-profile brand, on an exclusive basis, allows us to showcase our content to an engaged player base and demonstrate the unique experiences we can deliver. This is an important milestone in our North American expansion strategy, and we look forward to seeing how Ontario players respond to our portfolio.”

Oliver Bartlett, Vice President of Gaming at BetMGM, said: “Exclusivity matters because it gives our players something they can’t find anywhere else and sets us apart in a competitive market. Gaming Corps’ engaging and interactive content portfolio is a fantastic addition to BetMGM Casino.”

The post Gaming Corps partners with BetMGM for exclusive Ontario launch appeared first on Americas iGaming & Sports Betting News.

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