The idea of the first video game came up in the early 50’s, they were systems played on a vertical display through a massive network of computers. It was only by 1960 and beyond that the idea of home video game consoles was discovered. Ralph H. Bear was the inventor of this home gaming console which for the first time made gaming on analog televisions possible.
This discovery was famous as the “Brown Box” but it struggled to find a television maker who was willing to produce these consoles. The high end production cost of these consoles was the issue for which the production was delayed. This brown box was the first generation of gaming industry; today the same industry has found its eighth generation in the form of X-Box one and Playstation 4 which are successors of seven other such discoveries. The gaming industry for sure has lot more players today with a healthy business potential in the upcoming years where the gaming technology is only expected to grow further,
Gaming consoles have transformed into compact consoles-the mini sized interactive multimedia units used for the purpose of gaming entertainment today. These gaming systems unlike the older versions are enabled to connect to the televisions, the LCD and the LED screens today provide a premium class gaming experience. Moreover, the count and sorts of games available are ought to spoil a gamer for choices. The global gaming console market is booming up with their sales numbers and according to some of renowned research agencies; the industry is growing at a notable CAGR of 3.93% in a quick span of 4 years (2012-2016).
The introduction of new real like graphic visuals and superior audio presentation are seen as the encouraging factors grossing better sales for the industry. However, experts also say that the growing introduction of the mobile gaming industry along with other gaming platforms (especially social gaming platforms) are likely to pose dangers for former market.
The global gaming industry on a whole is expected to touch a $96 bn (billion) market by the end of 2018. The same market was valued at $68 bn by the close of 2013. Both the Xbox1 and Playstation 4 have recorded a sales of 100 mn (million) each by the end of 2013 and these numbers are estimated to cross all expectations in the times to come making the gross sales for the industry unpredictable In fact, the industry was underrated to touch a mark of $82 bn by 2018 but the last quarter of 2013 has been a game-changer for the industry as it has gone through some major positives bringing in a wave of higher expectations for the sector in the future.
An in-depth market research of the industry makes it possible to concentrate on the regions where these gaming consoles are on a demand. These newest consoles have a worldwide market catering to different countries like Latin America, North America, Europe, Middle East countries and nations of Asia including China and India which have been the front runners.
X-Box one and Playstation 4 are two most wanted gaming console products which have been launched by Microsoft Corporation and Sony Computer Entertainment Inc respectively. Both these products are higher end version, X-box one is around 43,000 INR and the Playstation 4 is stated around 40,000 INR.
They come with highly enabled controls which are easy to understand and provide a never before gaming experience. Microsoft Corporation, Sony Computer Entertainment Inc, Nintendo Co Ltd along with Mad Catz and Nividia Corp are some top companies in the global gaming industry.