Gaming market demand in 2021

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The companies covered in the gaming market report are Valve Corporation (Washington, USA), PlayJam Ltd (London, UK), Electronic Arts Inc (California, USA), Sony Group Corporation (Tokyo, Japan ), Microsoft Corporation (Redmond, Washington, USA), Nintendo Co., Ltd (Kyoto, Japan), Rovio Entertainment Corporation (Espoo, Finland), Nvidia Corporation (California, USA), Bandai Namco Holdings Inc (Tokyo , Japan), Activision Blizzard, Inc (California, USA) and more profiled players

Pune, India, Nov. 12, 2021 (GLOBE NEWSWIRE) — According to Fortune Business Insights™, The global gambling market The size is expected to gain momentum reaching USD 545.98 billion by 2028 while growing at a CAGR of 13.20% between 2021 and 2028.

The gaming market is fragmented by large companies focused on maintaining their presence. To do this, they proactively invest in R&D activities to develop engaging online video games. Moreover, other key players are adopting both organic and inorganic strategies to maintain a stronghold which will contribute to the growth of the market over the forecast period. Online video games have become more prevalent in recent years.

Most people find online games appealing and a modest way to find free time in their busy schedules. Moreover, during the pandemic, the fondness for the game has increased significantly. Many companies such as Nintendo and Tencent saw an increase in sales during the first quarter. The former posted a profit of 41%, as it sold many of its games digitally. The demand for online games will be persistent in the coming years, and this market is expected to explode over the forecast period.

List of Companies Featured in Global Gaming Market:

  • Microsoft Corporation (Redmond, Washington, USA)

  • Nintendo Co., Ltd (Kyoto, Japan)

  • Rovio Entertainment Corporation (Espoo, Finland)

  • Nvidia Corporation (California, USA)

  • Valve Corporation (Washington, USA)

  • PlayJam Ltd (London, UK)

  • Electronic Arts Inc (California, USA)

  • Sony Group Corporation (Tokyo, Japan)

  • Bandai Namco Holdings Inc (Tokyo, Japan)

  • Activision Blizzard, Inc (California, USA)

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Market segmentation :

Based on game type, the market is divided into shooter, action, sports, role-playing and others.

Based on game type, the shooter segment held a game market share of approximately 23.35% in 2020. The segment is expected to witness considerable growth as it provides realistic 3D graphics. It allows gamers to have a whole new experience of the virtual world. This fascinating atmosphere provided by fighting games is driving the market segment.

By device, it is segmented into PC/MMO, tablet, mobile phone, TV/console. Based on the end user, it is divided into male and female. Finally, the market is categorized into North America, Europe, Asia-Pacific, South America, and Middle East & Africa based on region.

Objective and scope of the report:

  • A market overview based on geographic scope, segmentation, and financial performance of major players is presented in the report.

  • The report presents the estimated market size by the end of the forecast period. Additionally, the historical and current size of the market is also examined in the report.

  • Based on various indicators, the annual growth (%) and compound annual growth rate (CAGR) for the given forecast period are offered.

  • The report presents the current industry trends and the future scope of the market in North America, Asia-Pacific, Europe, Latin America and Europe.

  • The various parameters accelerating the growth of the market are embedded in the research report.

  • The report analyzes the growth rate, market size, and market valuation over the forecast period.

Driving factor

Rising youth employment to drive demand for video games

The growing population of millennials is expected to drive the growth of the gaming market. For example, a report by the American Association of Advertising Agencies.Org, published in February 2019, mentions that the Gen Z population plays games daily. They outnumber millennials by 84%. In addition, the increase in disposable income translates into a higher rate of consumption of video games. For example, data published by the World Bank.Org indicates that global youth unemployment in 2018 is 15.19%, which is down from 15.37% from the previous year.

Regional outlook

Asia-Pacific will remain at the forefront, supported by the increase in urban population

Asia Pacific – The region is expected to occupy the highest position in the market during the forecast period. This is due to the rapid growth of the urban population. Rising awareness of video game trends is helping the market flourish in the region. The World Bank.Org data report suggests that in 2019, the urban population of East Asia-Pacific was 59.887%, up from 59.053% from the previous year. The regional market stood at USD 86.96 billion in 2020.

North America – The growing number of children with their smart devices is exploding the market. For example, data released by National Public Radio.Org in October 2019 indicates that more than half of American children own smartphones.

Browse Detailed Abstract of Research Report with TOC:

https://www.fortunebusinessinsights.com/gaming-market-105730

Detailed Table of Contents:

  • introduction

  • Summary

  • Market dynamics

    • Market factors

    • Market constraints

    • Market opportunities

    • Emerging trends

  • key ideas

    • Overview of parent/related markets

    • Industry SWOT Analysis

    • Supply chain and regulatory analysis

    • Recent Industry Developments – Policies, Partnerships, New Product Launches and Mergers & Acquisitions

    • Market analysis and overview (in relation to COVID-19)

      • Impact of COVID-19 on the market

      • Supply chain challenges due to the pandemic

      • Potential opportunities due to COVID-19

  • Global Video Games Market Analysis, Outlook and Forecast, 2017-2028

  • North America Gaming Market Analysis, Outlook and Forecast, 2017-2028

TOC Continued…!

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Take a look at key updates from related research:

video game market Size, Share & Industry Analysis, By Gamer Type (Extreme, Casual), By Device Type (Smartphones, Tablets, Laptops, Consoles), By Platform Type (Online , offline), by age (10-20, 21-35, 36-50, 51-65) and regional forecasts, 2021-2028

board game market Size, Share and Industry Analysis, by Game Type (Monopoly, Scrabble, Chess, Others), by Age Group (0-2 Years, 2-5 Years, 5-12 Years, More 12 years), by sales channel (specialty stores, online stores, hypermarkets and supermarkets, others (convenience stores, etc.)) and regional forecasts 2021-2028

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