Projected to grow at a CAGR of almost 14% from 2016 to 2024, 3D gaming console market is expected to grow significantly over the forecast period owing to growing addiction of youth towards 3D visual effects and real time gaming. 3D device manufacturers are now focusing on targeting adult consumers by providing superior gaming experience is anticipated to drive the market in the next eight years.
3D gaming consoles are game consoles that can support stereoscopic gameplays on integrated screens. Stereoscopic images improves the gaming experience and provide realism to it, creating the illusion of depth, and the availability of structural precise location and provide a better sense of surface materials in the gaming environment which is to boost the industry in the coming years.
3D game consoles render both 3D visuals from dedicated S3D games and 2D games into 3D format. Moreover, the video game industry is able to grow from conventional 2D games 3D games due to digital 3D visualization technology, advanced software tools, applications and gaming consoles accessories leading to industry growth. 3D graphics games have commercialized the video game industry.
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Innovative features and incorporating advanced features such as multi-display screens, motion sensors and intelligent communication that provide players with experience more intense and interactive game technologies are driving industry growth. Moreover, hardware developments and content level boosts opportunities for this market.
Online game industry goes beyond the PC as web-enabled mobile phones, tablets and consoles. With developers working extensively towards the concept of virtual reality technology is expected to make a strong comeback in the gaming industry, offering a promising way for the multidimensional game. Such innovative immersive technology partnerships are projected to drive the future of the gaming industry.
3D technology has successfully entered into home entertainment through 3D television and personal computers. With manufacturers willing to provide the most realistic and immersive experience for players, it is expected that interest in 3D gaming consoles is to grow in the forecast period. The market is driven by factors such as the growing popularity of 3D devices and the development of immersive 3D games and gesture-driven games.
On the other hand, high game development costs, software piracy and the impact of games on an individual’s health can slowdown the market growth. Moreover, emergences of 3D smartphones pose a threat to handheld 3D gaming consoles.
The market is segmented on the basis of consoles, platforms, components and technology. On the basis of consoles, the market is divided into home consoles, handheld consoles, dedicated consoles and micro consoles. Based on platforms market is classified into Microsoft Xbox, Apple Mac, Sony PlayStation, Nintendo Wii, Gear VR and many others. Based on the technology market is segmented into project holodeck, KINECT, XBOX IllumiRoom, auto stereoscopy, leap motion technology, active shutter technology, polarized shutter technology, compatible 3D glasses, and oculus rift. Hardware and software are the main components of the console market 3D gaming.
It is expected that the developed nations such as regions of North America and Europe is to extract the increased demand for these advanced gaming devices. However, Asia-Pacific is projected to be the fastest growing region due to growth observed in emerging economies like China, India and Korea.
Major participants include Nintendo Co., Activision Publishing Inc., Sony Computer Entertainment Inc., Avatar Reality Inc., Apple Inc., Kaneva LLC, Microsoft Corporation, Linden Lab Inc., Electronic Arts Inc and Oculus VR. The new product developments and partnerships are the strategies adopted by these players.
In March 2015, Nintendo Co. announced its Nintendo NX launch in March 2017 but now it seems that it has pushed back its date to allow for VR headset integration.
In June 2016, Oculus VR in its product Rift VR headset announced new games called ‘Superhot VR’, ‘Stern Pinball Arcade’ and ‘iRacing’ for receiving delivering preorders. Also Sony Computer Entertainment Inc. is to launch its PS5 soon.
In May 2016, HTC after the release of HTC Vive is expected to launch a VR game to complement the VR headset.
In March 2014, Facebook acquired Oculus to accelerate Oculus’s growth in gaming, communications and new social experiences and in May Sony formed joint ventures for playstation consoles in China.
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