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Market Opportunity Analysis
Home gaming systems have been around since 1972 when Ralph H. Baer invented the first analog video game console called the Magnavox Odyssey. This changed the video game market dramatically, and eventually brought the arcade industry to its knees. With home based video game consoles on the rise, children and adults no longer needed to drive to the arcade to play their favorite games, they could stay within the comforts of home, and stop dropping quarters in large bulky arcade cabinets.
The gaming console is a simple machine you plug into your television set at home. You can spend hours playing role-playing games, sports of all kinds, highflying adventures, and fast passed racing games. You can even play as an Italian plumber who eats magic mushrooms to increase in size in order to stomp on turtles and rescue a princess from a fire breathing dragon. Gaming consoles are meant to bring the excitement and fun of an arcade into your home for the whole family to enjoy. The evolution of the gaming console has changed dramatically over the years to keep up with the ever-changing world of technology. As the needs demand faster video cards, faster processing units, better graphics, larger disk storage for longer and more expansive virtual worlds, so changes the market.
The older gaming consoles featured a slot to place a game, and a place to plug in a joystick. Once the console was hooked up to the television set, you could play the one game you had plugged in. In today’s market space, the gaming console has become an entertainment system where you can play multiple games on a single disk, or online over a Wi-Fi connection. The need for joysticks is long gone and has been replaced with duel thumb pads, and multiple buttons that control any number of actions within the game. You no longer need to play a game by yourself; you can call several of your friends over and play on the same game console, or play with hundreds...