Explore the console game industry—where cutting-edge technology and imaginative storytelling merge to create immersive gaming experiences.
The console game industry is catching the eye of both consumers and investors. Advances in console technology, increasing demand for immersive graphics, and expanding gaming audiences drive the industry’s growth. And even if the economy gets tough, the console game industry shows resilience and long-term potential.
The promising future of the console game industry brings abundant, lucrative opportunities for startups:
To achieve success, console game startups need to address such challenges as steep costs of game development, intense competition, and tech problems. Plus, they need to find relevant financial support.
We streamline fundraising, handle M&A transactions, and conduct robust go-to-market strategies and compelling pitch decks.
Check our console game market research to know more about the current situation in the market and what it takes to attract funding.
The console game market is projected to reach $62.1 billion by 2032.
Over 3 billion gamers are worldwide.
Gamers own or have access to a gaming console.
Of gaming revenue accounted for the console game segment in 2022.
Is the expected esports audience by 2024.
The console game industry keeps changing, adopting new technologies to meet users’ needs. And its dynamic environment leads to the emergence of new industry trends:
Cloud gaming: enhancing accessibility and performance.
Subscription services: accessing a games library.
AR and VR tech: creating immersive gaming experiences.
AI integration: developing captivating game worlds.
Cross-platform gaming: allowing console and internet users to play the same game.
Esports: using console games as platforms for tournaments.
Why it matters: knowing industry trends equips console game startups with insights on developing relevant content, attracting investment, and staying competitive.
Overcoming the following obstacles is halfway to startup success.
The prices for developing a new console game are rising. Using new tech, hiring good developers, and making more complex games are getting more expensive.
Be ready to have deep pockets; otherwise, you may struggle to:
Addressing high development costs requires console gaming startups to:
The console game market is highly saturated. Top dogs like Sony, Nintendo, and Microsoft dominate the scene. And the number of newcomers is rising every year.
To stand out, startups need to apply much effort, or their creations will go unnoticed among gamers. Plus, it may result in lower sales and profits and problems funding future projects.
To outrun competitors, console game startups should:
Meeting tech requirements and standards set by console manufacturers is a must for console games. Plus, they need to run smoothly across all console versions.
The inability to meet these standards can cause:
Console game startups should focus on:
High entry barriers, intense competition, high-risk industry… It all may decrease investor interest.
Startups that fail to secure necessary funding have problems with:
A successful fundraising game includes:
The console game industry is highly appealing to potential investors. Its strong and growing market, economic resilience, high margins, and diversified revenue channels attract VCs.
Raising console game venture capital is no walk in the park nowadays. But it’s more because of the current economic situation rather than a lack of interest. This industry is shining bright on investors’ radar, being promising and profitable.
Our team usually needs two to three weeks to finish all the documentation. However, sometimes the time frames may stretch up to one month in case our experts have a lot on their plates, or the project is challenging.
Most console game pitch decks miss a consistent investment narrative. Plus, a weak go-to-market strategy, an unstable monetization model, and a vague funding request… All these issues leave investors in the dark, unable to find answers to their pivotal questions. Eventually, it makes them turn toward more compelling and promising projects.
The console game market is increasingly competitive, with a few major players like Sony and Nintendo dominating the scene. Plus, the number of newcomers entering the market is constantly growing.
We assist investment funds in carrying out comprehensive due diligence of promising console game projects to help decide whether the opportunity is worth investing in. We also provide end-to-end fundraising support to the partner fund’s portfolio companies.
Yes, we do! Our team assists with console game M&A by scouting for promising opportunities, evaluating them for potential success, and facilitating smooth partnerships that continue well after the deal is closed.
Absolutely! If your startup project aligns with certain criteria like round size, team expertise, and product quality, we can assist you in connecting with console game VCs. This service is integrated into our extensive investor relations package, which encompasses creating a pipeline of investors keen on console games, preparing startups for introductory meetings with them, and facilitating communication post-deal.
Sure thing! Our expert team offers customized market insights into the console game industry. We aim to give you a competitive edge by ensuring deep industry reports, evaluations of competitors, and wide-ranging market research. Using data from trusted sources, we help you fully understand the console game landscape with its challenges, opportunities, and competitive dynamics.
We not only assist startups through the Seed to Series B funding stages but also ensure help during pre-seed and Series C+ funding rounds, coordinating interaction with the big players and investment funds.
Whether you're looking for fundraising support, outsourced M&A advisory, growth strategy consulting, and presentation design, Waveup is your one-stop shop for that and more. Leave your email, and let's discuss your project!
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