The game consoles market is expected to register significant growth in the near future. The technological advancements in game consoles and subsequent ‘out-of-this-world’ experiences are taking the game consoles market to new heights. Major players in the game consoles market are exploring every possible option to reach new gamers and bolster the adoption of game consoles.
One such measure introduced recently in the gaming consoles market is the introduction of a wide variety of entertainment options alongside gaming. Recent advancements in consoles provide gamers with internet access, video download feature, playing music, and much more in the game consoles market.
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Here are some more important developments about the game consoles market:
• Nintendo Co., a key player in the global game consoles market plans to launch a brand new version of its earlier switch videogame console. Nintendo is currently in talks with game developers as well as suppliers, as it plans on releasing it in 2019. The next switch videogame console is expected to drive a large group of new users to the gaming console market as it would be much cheaper in price and would be a lot simpler in features.
• Microsoft is also eying new gamers and changing trends in the game consoles market to increase its market share. The company launched a subscription plan in 2018, allowing gamers to pay for consoles on a monthly basis. The Microsoft subscription scheme also offers access to online gaming via streaming services.
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• The game consoles market also faces certain challenges during the forecast period. Increasing costs of rapidly evolving graphics are driving costs to gamers higher and driving some price-conscious gamers towards online communities like Steam. However, these communities also introduce new games to gamers without the burden of the heavy marketing costs to reach new audiences for the game consoles market.