Recent surveys indicate a rising demand for highly advanced latest technology innovations from consumers across the United States interested in adopting high-tech video game consoles, smart homes, and earbuds. Most American households possess at least one Gaming console, with the millennial population driving the demand to an escalating rate.
Recent studies suggest that approximately 53% of U.S. households own a video game console, whereas the percentage will rise, seeing that 30% will be purchasing one in the next 12 months.
However, the study also observes that the adoption of the latest technology is subsequently less. Of the 53% console owners, only 26% of households own the recently launched PlayStation 5 or Xbox Series X|S. The remaining 41% still have a last-generation console with older technology.
The current Gaming technology market is driven by various newly emerging trends, such as stay-at-home technology gaining momentum, particularly amidst COVID-19.
Health and wellness trends have also spread at a tremendous rate. With limited traveling in recent years, there has been a change of preferences from smartphones to TVs.
It is studied that the amount of population interested in Gaming setups is increasing. The 30% of the people that are anticipated to purchase Gaming console within a year observes that 21% prefer next-gen hardware. The rest, 15% of it are likely to invest in a last-gen system.
Gaming technology is typically assisted with other technology devices, such as the need for a 4K TV, which exists across 52% of households.