DUBLIN, July 20, 2020 /PRNewswire/ — ResearchAndMarkets.com published a new article on the video games industry “Video Games Industry Trends 2020: Console Manufacturers Increase Production as Demand Continues Amid COVID-19”
Games companies like Nintendo, Microsoft and Sony have struggled to meet demand for consoles due to a huge increase in demand for home entertainment. Analysts predict that it is likely that this demand will continue as more consumers turn to gaming as a means of entertainment and to stay connected with friends. Nintendo has experienced difficulty meeting demand for the popular Switch console as well as its home fitness game Ring Fit Adventure as a result of coronavirus related manufacturing delays. However, it is reported that production has been recovering since June.
In anticipation of increased demand for its Playstation 5 consoles, Sony is ordering at least 50% more units than it had originally planned to ship this year. The company had initially expected to produce approximately six million consoles in 2020, however that figure is expected to increase to approximately 9 million. Facebook is also boosting production of its Oculus VR headsets with the goal of producing up to 2 million units in the second half of 2020. The company will start mass production of a new headset by the end of July.
To see the full article and a list of related reports on the market, visit “Video Games Industry Trends 2020: Console Manufacturers Increase Production as Demand Continues Amid COVID-19”
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SOURCE Research and Markets