The content of this report will be updated with the latest scenarios based on the global COVID-19 Pandemic
Video games are the specialized application that involves an interface or a screen, where independent players can interact in a structured form of play. Nowadays, the total number of gaming companies across the world has reached a point from where they can easily provide wider options for video games on the basis of price, genres, platform, etc. The global market for gaming is mainly driven by the enhanced penetration of the internet to a majority of the global customers at an affordable price and an increase in the availability of smartphones along with their easy adoption. These factors are going to drive the market to proliferate at 6.06% CAGR during 2019-2027 forecasting years, is expected to push the global market value by its revenue to reach a staggering sum of $ XX billion.
Fresh ideas, interactive features and the better-cum-high tech graphics of the video games are the mains reasons influencing the adoption of such throughout the world at many platforms, be it smartphones, PlayStation or Nintendo. Thus, generating huge revenues for the gaming industry in the current scenario, although, the newer approach of characterizing as well as rapid updating the development, deployment and the operations of a video game based on the customer behavior can reap more revenues for this industry in the upcoming years. There will be a dominance of the mobile gaming segment in the worldwide gaming industry soon due to the introduction of graphics intensive mobile games, plummeting prices of the smartphones, etc. The global gaming market is segmented by its type, component and the device type where they are played.
The global market for gaming is geographically segregated into North America, Asia Pacific, Europe and the collective countries under the Rest of World category. The Asia Pacific region holds the largest share by revenue for the gaming market in 2018 and also is expected to have the most rapid market growth during the forecast years. The gradual shift towards social gaming by the large percentage of the population that uses social networking sites and the easy availability of multiple genre based games are expected to exact a huge customer base in the Asia Pacific region from 2019-2027 forecasting years.
There are multiple companies who have major contribution to the global gaming market, and they are Rockstar Games Inc., Activision Blizzard, Bethesda Softworks LLC, Electronic Arts Inc., Gameloft (acquired by Vivendi), Microsoft Corporation, Nexon Co, Ltd., Nintendo Co., Ltd., Nvidia Computer Game Company, Sony Corporation, Sega, Square Enix Holdings Co., Ltd., Tencent Games, Ubisoft Entertainment S.A. and Zynga.