Global Video Game Console Market 2023

Video Game Console Market Size

In 2022, the global video game console market increased by 18% to $X, rising for the third consecutive year after two years of decline. The market value increased at an average annual rate of +2.7% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Over the period under review, the global market hit record highs in 2022 and is likely to see gradual growth in the immediate term.

Video Game Console Production

In value terms, video game console production surged to $X in 2022 estimated in export price. Over the period under review, the total production indicated a remarkable increase from 2012 to 2022: its value increased at an average annual rate of +5.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by +72.1% against 2019 indices. As a result, production attained the peak level and is likely to continue growth in the immediate term.

Video Game Console Exports

Exports

In 2022, shipments abroad of video game consoles (not operated by means of payments) decreased by -0.2% to X units for the first time since 2019, thus ending a two-year rising trend. Over the period under review, exports, however, saw tangible growth. The pace of growth appeared the most rapid in 2021 with an increase of 34%. As a result, the exports reached the peak of X units, leveling off in the following year.

In value terms, video game console exports declined slightly to $X in 2022. In general, exports, however, posted a remarkable increase. The most prominent rate of growth was recorded in 2017 when exports increased by 47%. The global exports peaked at $X in 2021, and then contracted modestly in the following year.

Exports by Country

China represented the key exporting country with an export of around X units, which recorded 57% of total exports. The United States (X units) ranks second in terms of the total exports with a 22% share, followed by Hong Kong SAR (5%). The following exporters - Vietnam (X units), Germany (X units) and Poland (X units) - each finished at a 6% share of total exports.

From 2012 to 2022, average annual rates of growth with regard to video game console exports from China stood at +7.1%. At the same time, Vietnam (+64.3%), Poland (+20.8%) and the United States (+9.5%) displayed positive paces of growth. Moreover, Vietnam emerged as the fastest-growing exporter exported in the world, with a CAGR of +64.3% from 2012-2022. By contrast, Hong Kong SAR (-3.2%) and Germany (-12.4%) illustrated a downward trend over the same period. From 2012 to 2022, the share of China, the United States and Vietnam increased by +11, +7.7 and +2.4 percentage points, respectively. 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 rate of growth in terms of value in China stood at +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, waning by -1.7% against the previous year. Over the last decade, it increased at an average annual rate of +2.0%. The most prominent rate of growth was recorded in 2017 when the average export price increased by 20% against the previous year. As a result, the export price attained the peak level of $X per unit. From 2018 to 2022, the average export prices remained at a 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, supplies from abroad of video game consoles (not operated by means of payments) increased by 16% to X units, rising for the third consecutive year after two years of decline. Overall, imports showed a resilient increase. The most prominent rate of growth was recorded in 2021 with an increase of 48% against the previous year. Global imports peaked in 2022 and are expected to retain growth in the immediate term.

In value terms, video game console imports fell to $X in 2022. Over the period under review, imports recorded a buoyant expansion. The most prominent rate of growth was recorded in 2017 with an increase of 53% against the previous year. Over the period under review, global imports attained the maximum at $X in 2021, and then contracted in the following year.

Imports by Country

The United States prevails in imports structure, finishing at X units, which was approx. 64% of total imports in 2022. It was distantly followed by Germany (X units), achieving a 5.1% share of total imports. The UK (X units), Japan (X units), France (X units) and the Netherlands (X units) took a little share of total imports.

The United States was also the fastest-growing in terms of the video game consoles (not operated by means of payments) imports, with a CAGR of +13.5% from 2012 to 2022. At the same time, the Netherlands (+5.1%), Germany (+3.0%), Japan (+2.8%) and the UK (+1.3%) displayed positive paces of growth. By contrast, France (-2.3%) illustrated a downward trend over the same period. From 2012 to 2022, the share of the United States increased by +31 percentage points. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United States ($X) constitutes the largest market for imported video game consoles (not operated by means of payments) worldwide, comprising 39% of global imports. The second position in the ranking was held by Germany ($X), with a 7.4% share of global imports. It was followed by Japan, with a 6.9% share.

In the United States, video game console imports expanded at an average annual rate of +8.6% over the period from 2012-2022. 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, with a decrease of -20.1% against the previous year. Over the period under review, the import price saw a slight slump. The pace of growth appeared the most rapid in 2017 when the average import price increased by 12% against the previous year. Global import price peaked at $X per unit in 2019; however, from 2020 to 2022, import prices remained at a lower figure.

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

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

Source: IndexBox Platform

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