The gaming GPU market is expected to grow at 14.1% CAGR during the forecast period. The rising trend of gamification among millennials has led to the increasing adoption of a virtual world for video gamers. Gaming machines have also evolved from powerful location-based machines found in restaurants, arcades, and bars to in-home machines in the form of gaming consoles and then PCs. As Moore’s Law drove down chip prices and increased performance, people bought more gaming machines for the home, which has a positive price-elasticity effect, at the expense of the location-based gaming machines. As gaming machines’ sales have increased in the last few years, the demand for gaming GPU has grown at a significant rate.
– GPUs revolutionized PC gaming, and with the development of the original Xbox found their requirement into gaming consoles too. The next console to use a gaming GPU was the PS3 and PS4. Then when all the two major console developers moved to a standard CPU platform, which is the x86. In the present scenario, all gaming platforms use a GPU for gaming.
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Key Market Trends
Console Gaming is Expected to Grow at a Significant Rate Over the Forecast Period
– With the increasing adoption of esports and other types of online gaming, the rise of video games through consoles is rising and will show more growth opportunities in the coming years. As a result of this trend, connectivity and entertainment providers could target console gamers by offering console-related video service offerings, like fast broadband, live sports, and monetizing the audience more optimally through OTT services. Video gaming developers could provide premium-pricing for gaming subscription services, including access to esports events and original content.
– Major game developers are also focusing on developing console-based games with high graphics quality, which contributes to the growth of the console gaming segment. For example, in July 2019, Amazon Game Studios announced the development of “The Lord of the Rings” game for consoles. Amazon has entered into a strategic alliance with Leyou Technologies and Middle-earth Enterprises to develop this video game.
– Console developers are also focusing on the new product development to raise the bar of the competition in the market. For example, Sony has planned to announce the PS5 price and release date in the second week of July 2020 and open pre-orders for their next-generation PlayStation. Microsoft is also planning to launch Xbox Series X in the last quarter of 2020. Both PS5 and Xbox Series X will face massive competition from each other in the market. These next-generation console developments are likely to drive the segment’s growth in the gaming GPU market.
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