Consumer Survey Awards Xbox One Product of the Year

Believe it or not, Microsoft's next-gen console was awarded the top home entertainment product by 2014's Product of the Year Awards.

Over 40,000 consumers were surveyed by the TNS market research company, GameSpot reports. You can see the full list of all the winners over on Adweek. This also means that the console is now being featured in Parade Magazine, which is expected to generate a 10-15% sales boost for the hardware.

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

This is undoubtedly a huge win for Microsoft, and with the upcoming launch of Titanfall, Xbox One could very well narrow the gap in sales between it and Sony's next-gen box. Do you see Microsoft's machine giving PlayStation 4 a run for its money in 2014, or does Sony already have this battle won?