Gaming market size to reach $ 398,950 million by 2026 at a CAGR of 11%
BANGALORE from India, July 5, 2021 / PRNewswire / – The World Gaming market is segmented by type (mobile game, console game, PC game), application (hobbyist, professional) and geography – Industry forecast to 2026. This report is released on Evaluate reports in the Games Market
The size of the games market is expected to reach $ 398,950 million by 2026, from 192,150 million dollars in 2019, at a CAGR of 11.0% in 2021-2026.
The main growth factors of the games market are:
- The growing adoption of internet services, along with the widespread availability of online games around the world, is expected to drive the growth of the games market.
- The adoption of gaming platforms, such as eSports, is increasing due to multiple investments and the growing prize pool. This in turn is expected to drive the growth of the gaming market.
- In the video game industry, game makers are constantly improving and pushing the technological boundaries in terms of real-time image rendering, which is expected to fuel growth.
- Easy accessibility and competitive prices for game consoles are expected to further increase market growth.
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TRENDS AFFECTING THE GROWTH OF THE GAMING MARKET
The emergence of cloud gaming is expected to boost the gaming market. Using the highly scalable cloud platform, high-end games can be played even on low-end machines. With cloud solutions, the limitations imposed by memory requirements, graphics capacity and processing power are reduced, providing gamers with an incredible gaming experience.
Game developers are constantly improvising and pushing the technological boundaries for real-time rendering of graphics in the video game industry, which in turn is expected to propel growth. Moreover, game makers are constantly improving and pushing the technological boundaries in terms of real-time image rendering, which is expected to increase the growth of the market.
The increased investment in the gaming industry is expected to drive the growth of the market. Large tech companies are investing heavily in the games market, allowing it to reach a large audience base with models such as free-to-play. In addition, the growing popularity of eSports tournaments that offer huge rewards to the winners is attracting more and more people. This in turn is expected to increase sales of video games and accessories as well as gaming hardware and software.
A majority of parents around the world fear that children may be exposed to inappropriate content through video games. Therefore, some regulatory action has been taken to standardize the online age classifications. This could hamper the growth of the gaming market to some extent.
GAMING MARKET SHARE ANALYSIS
Depending on the type, the smartphone is expected to experience significant growth – This growing demand for mobile games is a direct result of multiple technological advancements in the market, such as augmented reality, virtual reality and cloud gaming. Large companies making games for consoles and PCs are also releasing their games in mobile versions due to the increasing market for mobile games.
Depending on the region, Asia Pacific has been the largest gambling nation in the world for the past few years and it will continue to grow over the next few years. the Asia Pacific market occupied about 46.94 %% of the global market in 2017, while North America and Europe were about 24.85%, 21.78%.
- North America
- Asia Pacific
- Middle East and Africa.
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SEGMENTATION OF THE GAMING MARKET
Game breakdown data by type
- Mobile games
- Console games
- PC games.
Game Breakdown Data by Application
- Activision Blizzard
- Electronic arts
- Warner bros
- Namco Bandai
- Square Enix
- Take-Two Interactive
- King of digital entertainment.
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– Video game industry the market size is expected to reach $ 156,760 million by 2027, from $ 109,610 million in 2020, at a CAGR of 5.2% in 2021-2027.
– Esport market is segmented by Type Multiplayer Online Battle Arena (MOBA), First-Person Shooter (FPS), Real-Time Strategy (RTS), by Application Professional, Amateur and by various regions.
– The Gaming and animation market on mobile, PC and console is segmented by Application e-Education, Web Design, Animation Entertainment and various regions.
– The Online gambling market is segmented by type of online games for smartphones, online games for tablets, application for young adults, adults, middle-aged adults, seniors and various regions.
– The Serious games market the size should reach $ 8,005.3 million by 2027, from $ 3,766.6 million in 2020, at a CAGR of 10.9% in 2021-2027.
– The AR mobile games market is segmented by type based on geographic location, none based on geographic location, by mobile phone, tablet application and by various regions.
– VR games market is segmented by Type, Single Player, Adventure Game, Shooter, Racing Game, Simulation Game, Business Application, Private Entertainment, and various regions.
– 5G in the gaming market is segmented by type of software, service, hardware, application of online games, virtual games, and various regions.
– AI in the gaming market is segmented by Type, Cloud Based, On Premise, PC Gaming Application, TV Gaming, Smartphone & Tablet Gaming and by various regions.
– AI in the video game market is segmented by PC, TV, Smartphone and Tablet Application and by different regions.
– Taiwanese digital game market: According to the Yahoo Gaming survey 2017, Asia accounted for 47% of the global gaming market worth $ 100 billion in 2017, while Taiwan was ranked fifth in the Asia region and had a market value of nearly $ 1 billion.
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