Global Video Game Console Market 2024

Video Game Console Market Size

In 2022, the global video game console market increased by 31% to $X, rising for the third consecutive year after two years of decline. In general, the total consumption indicated a strong expansion from 2012 to 2022: its value increased at an average annual rate of +5.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +99.2% against 2019 indices. Global consumption peaked in 2022 and is expected to retain growth in years to come.

Video Game Console Production

In value terms, video game console production totaled $X in 2022 estimated in export price. The total output value increased at an average annual rate of +1.3% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2015 with an increase of 25% against the previous year. Over the period under review, global production hit record highs at $X in 2018; however, from 2019 to 2022, production remained at a lower figure.

Video Game Console Exports

Exports

After two years of growth, shipments abroad of video game consoles decreased by -3.6% to X units in 2022. In general, exports, however, posted a perceptible increase. The most prominent rate of growth was recorded in 2021 with an increase of 34%. As a result, the exports attained the peak of X units, and then fell in the following year.

In value terms, video game console exports shrank modestly to $X in 2022. Over the period under review, exports, however, continue to indicate a buoyant increase. The pace of growth was the most pronounced in 2017 when exports increased by 47% against the previous year. The global exports peaked at $X in 2021, and then declined modestly in the following year.

Exports by Country

China was the largest exporting country with an export of about X units, which resulted at 59% of total exports. It was distantly followed by the United States (X units), achieving a 23% share of total exports. The following exporters - Hong Kong SAR (X units), Germany (X units), Poland (X units) and Vietnam (X units) - each accounted for a 7.9% share of total exports.

From 2012 to 2022, average annual rates of growth with regard to video game console exports from China stood at +6.9%. At the same time, Vietnam (+52.3%), Poland (+19.9%) and the United States (+12.8%) displayed positive paces of growth. Moreover, Vietnam emerged as the fastest-growing exporter exported in the world, with a CAGR of +52.3% from 2012-2022. By contrast, Hong Kong SAR (-8.8%) and Germany (-12.4%) illustrated a downward trend over the same period. While the share of the United States (+12 p.p.), China (+10 p.p.) and Vietnam (+1.6 p.p.) increased significantly in terms of the global exports from 2012-2022, the share of Hong Kong SAR (-7.6 p.p.) and Germany (-10.5 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest video game console supplier worldwide, comprising 63% of global exports. The second position in the ranking was taken by Germany ($X), with a 4.1% share of global exports. It was followed by the United States, with a 4.1% share.

From 2012 to 2022, the average annual growth rate of value in China amounted to +9.6%. The remaining exporting countries recorded the following average annual rates of exports growth: Germany (-2.7% per year) and the United States (-2.5% per year).

Export Prices by Country

In 2022, the average video game console export price amounted to $X per unit, therefore, remained relatively stable against the previous year. Over the last decade, it increased at an average annual rate of +1.8%. The pace of growth was the most pronounced in 2017 when the average export price increased by 21% against the previous year. As a result, the export price reached the peak level of $X per unit. From 2018 to 2022, the average export prices remained at a somewhat lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Poland ($X per unit), while the United States ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Germany (+11.1%), while the other global leaders experienced more modest paces of growth.

Video Game Console Imports

Imports

In 2022, overseas purchases of video game consoles increased by 19% to X units, rising for the third consecutive year after two years of decline. Overall, imports saw a buoyant expansion. The pace of growth appeared the most rapid in 2021 when imports increased by 52%. Global imports peaked in 2022 and are likely to continue growth in years to come.

In value terms, video game console imports declined to $X in 2022. In general, imports recorded a buoyant expansion. The pace of growth appeared the most rapid in 2017 when imports increased by 53%. Over the period under review, global imports attained the maximum at $X in 2021, and then shrank in the following year.

Imports by Country

The United States dominates imports structure, accounting for X units, which was near 66% of total imports in 2022. The UK (X units), Japan (X units), Germany (X units), France (X units) and the Netherlands (X units) followed a long way behind the leaders.

The United States was also the fastest-growing in terms of the video game consoles imports, with a CAGR of +13.5% from 2012 to 2022. At the same time, the Netherlands (+5.2%), Japan (+2.8%) and the UK (+2.4%) displayed positive paces of growth. By contrast, Germany (-1.4%) and France (-2.4%) illustrated a downward trend over the same period. The United States (+32 p.p.) significantly strengthened its position in terms of the global imports, while the UK, France and Germany saw its share reduced by -1.6%, -2.9% and -3.6% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United States ($X) constitutes the largest market for imported video game consoles worldwide, comprising 39% of global imports. The second position in the ranking was held by Germany ($X), with a 7.4% share of global imports. It was followed by Japan, with a 6.9% share.

From 2012 to 2022, the average annual rate of growth in terms of value in the United States totaled +8.6%. The remaining importing countries recorded the following average annual rates of imports growth: Germany (+3.0% per year) and Japan (+0.7% per year).

Import Prices by Country

In 2022, the average video game console import price amounted to $X per unit, shrinking by -22.1% against the previous year. Overall, the import price recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 an increase of 16% against the previous year. Over the period under review, average import prices reached the peak figure at $X per unit in 2019; however, from 2020 to 2022, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Germany ($X per unit), while the United States ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Germany (+4.4%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :