PUBLISHER: KBV Research | PRODUCT CODE: 1621210
PUBLISHER: KBV Research | PRODUCT CODE: 1621210
The Latin America, Middle East and Africa Gaming Console Market would witness market growth of 18.9% CAGR during the forecast period (2024-2031). In the year 2027, the LAMEA market's volume is expected to surge to 7,420.0 thousand units, showcasing a growth of 17.0% (2024-2031).
Non-Gaming Applications in the Gaming Console Market refer to the utilization of gaming consoles for purposes beyond playing video games. Modern gaming consoles like PlayStation, Xbox, and Nintendo Switch have evolved into multifunctional entertainment hubs, catering to diverse user needs. Key non-gaming uses include streaming movies, TV shows, and music through integrated apps like Netflix, Hulu, Spotify, and YouTube. Consoles also support browsing the internet, video calling, and accessing social media platforms, enhancing their role in digital lifestyles. Consequently, in Brazil, 1,893.3 thousand units of gaming console are expected to be utilized for non-gaming purpose by the year 2031.
The Brazil market dominated the LAMEA Gaming Console Market by Country in 2023, and would continue to be a dominant market till 2031; thereby, achieving a market value of $1,950.4 Million by 2031. The Argentina market is expected to witness a CAGR of 19.8% during (2024 - 2031). Additionally, The UAE market would register a CAGR of 18.5% during (2024 - 2031).
The rising adoption of 4K and 8K gaming has become a significant driver in the market, fueled by the increasing prevalence of ultra-high-definition televisions. As more households upgrade to 4K and 8K TVs, the demand for consoles capable of delivering ultra-high-definition resolutions has grown. Modern consoles now include advanced features such as native 4K resolution, HDR (High Dynamic Range), and ray tracing, offering gamers richer colors, sharper details, and realistic lighting effects. These enhancements create highly immersive gameplay experiences, appealing to casual players and dedicated enthusiasts who prioritize top-tier visuals and performance.
In addition to superior visuals, 4K and 8K-compatible consoles come with upgraded processing power and higher frame rate capabilities, ensuring smooth and responsive gameplay, even for fast-paced, action-heavy titles. This technological advancement meets consumer expectations and future-proofs consoles, making them compatible with evolving display technologies. As ultra-high-definition gaming becomes a core feature of the home entertainment ecosystem, gaming consoles continue establishing themselves as essential devices, driving sustained growth and innovation in the market.
South Africa is also experiencing notable growth in its gaming console market, spurred by increasing internet access, a rising middle class, and government-driven digital initiatives. The Department of Communications and Digital Technologies (DCDT) has introduced the "National Digital and Future Skills Strategy" to improve digital literacy and infrastructure, creating an environment conducive to gaming console adoption. The market is gaining traction as consumers seek more immersive and high-quality gaming experiences. The government's focus on enhancing digital skills and infrastructure further supports the growth of South Africa's gaming console market. Thus, combining these factors ensures sustained growth and innovation in the console industry throughout the LAMEA region.
Based on Type, the market is segmented into Home Console and Handheld Console (Portable and Non-Portable). Based on End-use, the market is segmented into Residential and Commercial. Based on Application, the market is segmented into Gaming and Non-Gaming. Based on countries, the market is segmented into Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
List of Key Companies Profiled
LAMEA Gaming Console Market Report Segmentation
By Type (Volume, Thousand Units, USD Billion, 2020-2031)
By End-use (Volume, Thousand Units, USD Billion, 2020-2031)
By Application (Volume, Thousand Units, USD Billion, 2020-2031)
By Country (Volume, Thousand Units, USD Billion, 2020-2031)