Statistically, in the recent times, console games have exhibited an annual growth rate of 6.9 percent and are expected to become a whopping $34.7 billion market in 2012. That accounts for nearly 70 percent of the total gaming industry. In addition, among the latest (and advanced) iterations of this ever-thriving market are the seventh generation consoles like Microsoft's Xbox 360. Unveiled in 2005 as a successor to the original Xbox, the 360 has certainly come a long way with sale of over 53.6 million consoles worldwide. Being the first high-definition console to be launched in the vast domain of gaming devices, the reasons for its high momentous success must surely be many. Here we are to take a look at some of them.

1. XBox Live functions

Xbox 360 Live functionalities extend upon the already successful Xbox Live - an online multiplayer gaming and digital media delivery service started by Microsoft. For 360, the company initiated a free membership package for many new users. This package allows the player to access Xbox Arcade and Marketplace, participate in forums, and chat with other players.
2. Live Arcade downloads

Are you still missing the ubiquitous yellow disc eating away the neatly aligned dots? Then Xbox Live Arcade downloads is certainly the place for you. This feature not only allows casual players to play some pretty heavyweight yet old titles like the Pac-Man or Street Fighter, but also allows newer arcade games such as Assault Heroes. Moreover, one can also get hold of games such as Castlevania from consoles such as the PlayStation.
3. XBox Live Marketplace

The intense vibe before the releasing of a game can be very important for hardcore gamers and the loyal fan base. Microsoft created a particular section in allusion to this and it is known as the XBox Live Marketplace. Here users can download purchased or promotional content like game demos, trailers, arcade versions, and even themes and pictures related to games. Statistically, more than 70 percent of Xbox users utilized this virtual marketplace feature.
4. XBox Family Settings

More of a parental control mechanism than an intrinsic user oriented feature, the Xbox Family Settings certainly manages to do the censorship job, especially for some young kids. A simplistic password setting blocks the accessibility criteria. So, some among us may still have to wait for a few years to try out the latest iteration of Grand Theft Auto.
5. Kinect Accessory Functions

When Microsoft launched their motion sensing input device in the guise of Kinect as a webcam peripheral to 360, it was a pivotal step in history of gaming. Giving the gamers the chance to naturally interact (without joysticks) with the device by just using their body motions, the ploy was novel and intriguing. In relation to this, Kinect still holds the world record of being the fastest selling consumer electronics device.
6. Hulu Plus Functions

Going beyond the scope of just being a gaming console, the Xbox 360 will incorporate the fascinating feature of selecting and downloading a plethora of television media content, ranging from favorite movies to interesting shows. This functionality will be in the form of Hulu Plus in connection with your Kinect rig. The downloaded content in turn will be stored in the Xbox 360 extended hard-drive.
7. Media capabilities with the Netflix

Bridging the gap between television content and PC's net connectivity, the Xbox 360 will allow direct streaming of movies on to the large TV screen. Once connected to your ever trusty PC (of course with a good net connectivity attribute), the 360 will stream all the required media (movie or video) content while you watch it in its full high-definition glory.
8. Hard drive transfer

Got stuck with your old Xbox 360, which you bought amidst the hullabaloo of the 2005 launching? Well, Microsoft has designed a compatible hard drive transfer cable, which allows you to transfer all your old (yet precious) data like games and videos onto the newer models of Xbox 360 S. The price tag of the convenient cable comes with a figure of $19.99for you to keep up with the times.
9. Upgradable hard drives

A 4GB internal flash memory at price of $199.99 may seem to be paltry, especially when we consider the myriad of games, videos, and movies that are made available through different Xbox user-oriented features. The hard drive can be upgraded to a whopping 250GB for all those media goodies, of course, for an extra cost of $129.99.
10. Customized and personalized gaming consoles

Sometimes the inherent visual element goes a long way in enriching a user-oriented experience. Microsoft has certainly taken note of this attribute, and in relation to this, they have allowed a wide variety of customized Xbox consoles that cater to many different personal tastes. The vivacious color schemes do allude to a more dynamic style of gaming interaction.