Gaming Market: Global Industry Analysis And Forecast 2023 - 2029

Market Overview:

Global Gaming Market was valued at USD 190.44 Billion in 2021 and is expected to reach USD 362.69 Billion by the year 2028, at a CAGR of 9.64%.

Nowadays gaming market is expanding rapidly. Innovation and technological proliferation in both software and hardware are major factors driving the market growth. Easy availability and access to games on the internet and the increasing implementation of internet services are expected to increase the demand for games. Many people around the world are inclined towards gaming as the game is one of the major sources of entertainment. Gaming is popular in all age groups. Artificial intelligence has been marked as a significant growth parameter to improve the overall gaming experience.

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Market Dynamics:

Driver:

The emergence of next-generation video games and the increasing number of gamers around the world are the major factors driving the market growth. The rising investments in the field of cloud gaming are excepted to boost market growth. The mobile gaming market is driven by the rising availability of high-speed internet compatible along with 4K video gaming, which significantly drives the market growth. Moreover, due to the lockdown, people are staying home, and this increases the demand for online gaming around the globe and drives market growth in the upcoming years. Enhanced experience in wireless multiplayer gaming drives market growth.

Opportunities:

The continuous technological advancements in the gaming industry are significantly propelling the industry's growth. The key players are enhancing the way games are created and improving the overall gaming experience of the user's such factors create growth opportunities for the market. The rising popularity of mobile gaming in the youth population creates additional growth opportunities for market expansion. Additionally, the inclination of the population towards gaming as a career creates a growth opportunity for the market during the forecast period.

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The Report Will Include A Major Chapter

•Patent Analysis
•Regulatory Framework
•Technology Roadmap
•BCG Matrix
•Heat Map Analysis
•Price Trend Analysis
•Investment Analysis
•Company Profiling and Competitive Positioning
•Industry Value Chain Analysis
•Market Dynamics and Factors
•Porter's Five Forces Analysis
•Pestle Analysis

Moreover, the report includes significant chapters such as Patent Analysis, Regulatory Framework, Technology Roadmap, BCG Matrix, Heat Map Analysis, Price Trend Analysis, and Investment Analysis which help to understand the market direction and movement in the current and upcoming years.

Market Segmentation

By Type:

•Online
•Offline

By Application:

•Men
•Women

By Device Type:

•Mobile Phones
•Console
•Computer
•Tablets
•Others

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Regional Insights

The Asia-Pacific region accounted for the largest share of 48.50% in the market in 2020. Further in the Asia-Pacific gaming market, China accounted for the largest share in 2020. The rest of Asia-Pacific is anticipated to witness the fastest CAGR over the forecast period. China is one of the major countries in Asia-Pacific, which has a growing technological adoption. The country is home to one of the fastest internet bands and strong players like Tencent and NetEase, Tencent, and others. The country's growing exports and constant innovation practices in new games and consoles are major drivers of gaming in the country.

By Region:

•North America (U.S., Canada, Mexico)
•Europe (Germany, U.K., France, Italy, Russia, Spain, Rest of Europe)
•Asia-Pacific (China, India, Japan, Singapore, Australia, New Zealand, Rest of APAC)
•Middle East & Africa (Turkey, Saudi Arabia, Iran, UAE, Africa, Rest of MEA)
•South America (Brazil, Argentina, Rest of SA)

Key Players For The Global Gaming Market

•Apple Inc.
•37 Interactive Entertainment
•Take-Two Interactive Software Inc.
•NetEase Inc.
•Sony Corporation
•Google LLC (Alphabet Inc.)
•Beijing Kunlun Technology Co. Ltd
•Bandai Namco Entertainment Inc.
•Nexon Company
•Nintendo Co. Ltd
•Activision Blizzard Inc.
•Electronic Arts Inc.
•Ubisoft Entertainment SA

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Key Industry Developments

October 2020 - JetsSynthesys declared a 100% accession of mobile gaming development studio Nautilus Mobile. With the accession, JetSynthesys affirmed to have become the number one skill-based gaming franchise worldwide with 100 million downloads and 10 million MAUs. As the online gaming sector is booming up, the accession also builds to depth their incursion into cricket esports.

April 2020 - Sony introduced the first look of the DualSense wireless controller, which comes together with the Playstation 5 that is going to be revealed at the end of 2020. DualSense, and PS5's Tempest 3D AudioTech, will provide a new feeling of ingress to players due to their useful features.

Reasons to Buy:

•This market intelligence report offers a thorough, forward-looking analysis of the gaming market and key opportunities in a concise format to help executives build proactive and profitable growth strategies.
•The broad perspective of the report coupled with comprehensive, actionable detail will help gaming vendors, service providers, and other players succeed in the growing gaming market globally.
•With more than 20 charts and tables, the report is designed for an executive-level audience, boasting presentation quality.
•The report provides an easily digestible market assessment for decision-makers built around in-depth information gathered from local market players, which enables executives to quickly get up to speed with the current and emerging trends in gaming markets.

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