It seems that for consumers, the Xbox One is next gen console to use as the Xbox One beats the PS4 in the 2014 Product of the year awards!

Xbox One has scooped its first consumer award. Microsoft's next-gen console won the top home entertainment going in 2014′s Product of the Year awards.

According to Gamespot, over 40,000 consumers were consulted through market research company TNS to determine their products of the year in various categories. The full list of winners has been published over on AdWeek.

Xbox One has topped the 'Home Entertainment' bracket, and according to Product of the Year's organizers, the console and its fellow winners will see a 10-15% sales boost as a result of being featured in an accompanying cover feature in Parade Magazine.

Speaking with Parade, Microsoft director of product planning Albert Penello said, "The gaming console has moved out of the basement and into the living room."

Xbox One has currently sold over 3 million units worldwide and counting. Microsoft hopes to get more gamers on board with this UK price cut and Titanfall console bundle.