- Report ID: BMRC 1335 | Number of pages: 200 | Publish Date: Jan 2021
Status: Published | Category: Technology And Media | Delivery Timeline:
Global Gaming Market is valued at USD 151.55 Billion in 2020 and expected to reach USD 279.73 Billion by 2027 with the CAGR of 9.15% over the forecast period.
Global Gaming Market: Global Size, Trends, Competitive, Historical & Forecast Analysis, 2021-2027- Factors such as changing demographics of gamers, high installation and upgrading cost of hardware & software are some of the major factors driving the growth of the global gaming market.
A structured form of play that usually undertaken for fun or entertainment and sometimes used as an educational tool is known as a game and these games are distinct from work which is usually carried out for payment and from art which is more often an expression of artistic or ideological elements. It includes the running of specialized applications that are known as video games or electronic games on game consoles like Playstation and X-box or on personal computers in which case the activity of game is known as online gaming. Video games is also an electronic game which involves interaction with a input device or user interface, such as a controller, joystick, motion sensing devices or keyboard, for generating visual feedback on a two- or three-dimensional video display device such as a monitor, TV set, virtual reality headset or touchscreen. For playing video games, gaming computer that is also known as a gaming rig or gaming PC which is a personal computer type game are designed which require a high amount of computing power.
Global gaming market is segmented on the basis of device, type and region & country level. On the basis of device, the global gaming market is divided into console, mobile and computer. On the basis of type, the global gaming market is classified into online and offline.
The regions covered in this Global Games Market report are North America, Europe, Asia-Pacific and Rest of the World. On the basis of country level, Gaming industry report is sub divided into U.S., Mexico, Canada, UK, France, Germany, Italy, China, Japan, India, South East Asia, GCC, Africa, etc.
Microsoft Corporation, Nintendo Co. Ltd., Rovio Entertainment Corporation, NVIDIA Corporation, Valve Corporation., PlayJam Ltd., Bluestack Systems Inc., Sony Corporation and others
Gaming Feature on MX Player Emerged as a Runaway Hit.
August 13th, 2020; the in-app gaming feature of MX Player launched in February this year and it has grown exponentially since. This platform has provided over 60 games across its Android and iOS apps that has from just nine hyper-casual games. MX Player has stayed true to its vision of providing audiences with "Everytainment", its democratizing entertainment is with offerings that ranging from original web series, live TV, video streaming, audio streaming and gaming. Gaming has evolved far beyond consoles and personal computers with the huge proliferation of smartphones and cheap data and the mobile Platform has become the most significant segment of the gaming industry.
Increasing proliferation of mobile phones & easy availability of games on the internet along with innovations in both hardware & software and the growing adoption of mobile & browser games which offer free-to-play business models are some of the major factors driving the global gaming market growth. For instance, According to Entertainment Software Association, Consumers spent about $22.41 billion on video games, hardware and accessories in 2015 and 68.7% i.e. 15.4 billion of these sales include games, mobile apps, add-on content, subscriptions and social networking games. About 35% percent of gamers play games on smartphones and 31% play games on wireless devices. In addition, with the rising popularity of e-sports, multiplayer video game competition between professional and amateur players and trends like a TV/Computer with gaming consoles & increasing prevalence of high-speed Internet connections have made online gaming increasingly popular. For instance, According to Deloitte Corporate Finance LLC, in 2018 the esports industry had a global fan base of 380M with about 37% representing male aged 21 to 35 and about 16% representing females ages 21 to 35. In addition, in the U.S., about 61% of esports viewers earn more than $50,000 per year. Furthermore, as the global population uses social networking sites such as Facebook and Reddit to play games. So, the trend of social media gaming is also expected to foster the global gaming market growth within the forecast period. However, a steep rise in video game-related health issues and problems may hamper the global gaming market growth.
The Asia Pacific is expected to witness a fastest growth in the global gaming market due to the emergence of China as the ‘global gaming capital’, Ever-increasing smartphone penetration and rising demand for entertainment in China. For instance, According to the Chinese Game Publishing Committee (GPC), the total number of video gamers in China reached 534million in 2015 i.e. 3.3% up on 2014 and the total video games revenue was upto US$ 8.98 billion in 2015 and it is expected to reach US$ 12.85 billion in 2020.
North America is expected to show a significant growth in the global gaming market owing to the increasing preferences for all gaming platforms such as mobile, PC and console, mobile gaming and rising overall the total consumer spend on video gaming in this region. For instance, According to Association for UK Interactive Entertainment (Ukie), the majority of the revenue by games Video is about 39% i.e. £963million in North America.
By Device: Console, Mobile, Computer
By Type: Online, Offline
Regional & Country Analysis
North America, U.S., Mexico, Canada , Europe, UK, France, Germany, Italy , Asia Pacific, China, Japan, India, Southeast Asia, South America, Brazil, Argentina, Columbia, The Middle East and Africa, GCC, Africa, Rest of Middle East and Africa
Key Benefits for Global Gaming Industry Report–
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Gaming Market Size By Device (Console, Mobile, Computer), By Type (Online, Offline) Forecast 2021-2027