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US Leads Global Sales of Video Gaming Consoles During Forecast Period 2021-2031
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The US leads global video gaming console sales from 2021-2031, driven by tech advancements and consumer trends in streaming.
ICT companies are extensively adopting technologies such as cloud computing and artificial intelligence to ensure seamless operations as teams continue working from home. Focus on fast automation, use of real-time operation within various end-use sectors such as automotive, food & beverage and others will provide stimulus to the growth.
The report offers actionable and valuable insights on the Video Gaming Consoles market. The latest report by Fact.MR provides details on the present scenario of the market across various regions along with the historic data and forecast of the market. The report also includes information on the sales and demand of Video Gaming Consoles across various industries and regions.
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Tech-driven advancements such as 3 dimensional videos, virtual reality, and augmented reality present profitable prospects for video streaming services.
Leveraging the strong fan-base of live sports, and entertainment events, the live streaming segment emerges as the principal streaming type segment. Live streaming accounts for a lion’s share of ~62% of the total market revenues. Digitization initiatives by international sports associations coupled with strong cloud infrastructure will continue to create perpetual demand for video streaming.
However, non-linear streaming offers the most financially rewarding opportunities with a staggering ~18% CAGR during the forecast period. Adoption of internet enabled home entertainment systems amid inter-connected customer experience regardless of the device (smartphone, laptop, or television) are accredited for this segment’s growth.
US accounts for the largest market value share of more than 20%. Presence of major video streaming platforms such as Netflix and Amazon Prime are primary factors for share-wide dominance of this region.
Further, innovation and development of advanced streaming technology enables data efficient streaming of content. The average consumption of video streaming services is over 38 hours of content in the US. This points to favorable consumer trends in North American countries. The highest growth rate can be traced to the Middle East & Africa.
Countries in this region are witnessing exponential adoption of smartphones, tablets, and smart televisions. Middle East & Africa offers remunerative growth opportunities with a phenomenal 19% CAGR through 2029.
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Omnipresent lockdowns across the globe have generated a meteoric increase in video streaming. As organizations shift to work-from-home as a step towards mitigating financial losses
The global video streaming market is segmented on the basis of streaming type, delivery channel, platform, service, revenue model, end-use, and region.
Streaming Type
Delivery Channel
Platform
Service
Revenue Model
End Use
Region
This taxonomy and the detailed TOC prepared are confidential and intended exclusively for the individual or entity with whom it is being shared. Reading, disseminating, distributing, or copying this to any party other than addressee(s) is unauthorized and prohibited.
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The article discusses the US leading global sales of video gaming consoles during the forecast period 2021-2031.
Tech advancements like AI and cloud computing, along with consumer trends in video streaming, drive growth.
The Middle East & Africa region shows the highest growth potential with a 19% CAGR through 2029.
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