Dublin, March 14, 2023 (GLOBE NEWSWIRE) -- The "Global Gaming Market - Forecasts from 2022 to 2027" report has been added to ResearchAndMarkets.com's offering.
The global gaming industry was estimated to be worth US$151.524 billion in 2020 and is anticipated to rise to US$258.734 billion by 2027, at a CAGR of 7.94%.
Growth is positively impacted by the rising trends of esports, social gaming, cloud-based gaming, and rogue-like gaming. Younger generations are drawn to gaming for amusement thanks to the accessibility of games across platforms such as consoles, cellphones, portable gaming devices, laptops, and tablets as well as the concentration of major market participants on developing interactive games.
It has been crucial in accelerating market expansion.
Additionally, the worldwide youth unemployment rate is gradually declining, which has increased purchasing power and sped up consumption. This is anticipated to boost the expansion of the global gaming market.
Mobile users' growing propensity for gaming is expected to boost demand.
Due to the increasing adoption of 4G technology in smartphones, which has resulted in an increase in the production of captivating online interactive games, mobile gaming is steadily gaining consumers around the world. As a result, these games draw players from a variety of demographic groups globally and contribute to their expansion. The surge in demand for mobile games has also been significantly influenced by the increasing mobile cellular subscription.
Internet use is becoming more widespread, and game publishers are using effective marketing techniques to draw players of all ages, which is boosting the gaming industry's expansion. The development and availability of a wide variety of educational games across numerous platforms are being fueled by the global expansion of the e-learning business, which is fueling market expansion. The introduction of Virtual Reality (VR) and Augmented Reality (AR) games into the industry, which can be viewed as a primary driver for this market, is further supported by ongoing technological improvements.
Market Developments:
- Sept 2022: Sonic Frontiers will launch in November 2022 for PlayStation5, PlayStation4, Nintendo SwitchTM, Xbox Series X|S, Xbox One, and PC, according to a SEGA announcement (Steam). The action-adventure game Sonic Frontiers features Sonic's hypersonic speed. Due to the seamless integration of all the stages into one Open-Zone universe, this game offers the next generation of stage-clearing action. Since there are Challenges strewn everywhere, it's possible to play at a rapid speed without being restricted to a course. There are a ton of different activities on the map, including battles, puzzles, and levels in cyberspace, and how one proceeds is completely up to them.
- Jan 2022: Microsoft has announced the acquisition of Activision Blizzard, one of the largest California-based video game-holding companies in the world. According to Microsoft, the agreement would enable everyone to enjoy gaming on any device and foster a sense of community. The merger comprised a $68.7 billion transaction, making it the largest purchase the corporation has ever undertaken in this industry. Most crucially, the Activision deal would give Microsoft the foundational pieces for the Metaverse. Big-name franchises from Activision, Blizzard, and King Studios like Call of Duty, Candy Crush, World of Warcraft, and Diablo, which together have 400 million active players monthly, will be transferred to Microsoft. Through Major League Gaming, the agreement also grants the software company ownership of all international eSports competitions. This purchase will speed up the expansion of Microsoft's gaming business across mobile, PC, console, and cloud platforms and will serve as a foundation for the metaverse.
Product Offerings:
- Aliens: Infestation: It offers 2D side-scrolling gameplay with an arcade, vintage vibe in the vein of Metroid or Castlevania. This makes for the utmost in fan service when combined with a complex fighting system and a lengthy plot. The Alien's world offers a terrifying, suspenseful, and action-packed backdrop. The Sulaco and LV-426, as well as other real-life settings inspired by the movie series, will be used to immerse the player in a spooky, evocative atmosphere.
- Minecraft Dungeons: Microsoft's online video game Minecraft Dungeons allows up to four players to play locally and cooperatively. Depending on the number of participants in each session, the difficulty, opponent count, and loot adjust to continually offer a fun, rewarding experience. Online multiplayer and local cooperative play are incompatible. There are also cloud saves accessible, allowing users to store their Heroes there and access them from any device that supports Minecraft Dungeons.
Market Segmentation:
By Device Type
- PCs
- Smartphones
- Tablets
- TV Gaming Console
- Handheld Gaming Console
By Component
- Hardware
- Software
- Services
By Game Type
- Action
- Strategy
- Puzzle
- Others
By Geography
- North America
- USA
- Mexico
- Canada
- South America
- Brazil
- Argentina
- Others
- Europe
- Germany
- France
- United Kingdom
- Italy
- Others
- Middle East and Africa
- Saudi Arabia
- UAE
- Others
- Asia Pacific
- India
- China
- Japan
- South Korea
- Taiwan
- Thailand
- Indonesia
- Others
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 138 |
| Forecast Period | 2020 - 2027 |
| Estimated Market Value (USD) in 2020 | $151.52 billion |
| Forecasted Market Value (USD) by 2027 | $258.73 billion |
| Compound Annual Growth Rate | 7.9% |
| Regions Covered | Global |
Key Topics Covered:
1. INTRODUCTION
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
5. GLOBAL GAMING MARKET BY DEVICE TYPE
6. GLOBAL GAMING MARKET BY COMPONENT
7. GLOBAL GAMING MARKET BY GAME TYPE
8. GLOBAL GAMING MARKET BY GEOGRAPHY
9. COMPETITIVE INTELLIGENCE
10. COMPANY PROFILES
Companies Mentioned
- Microsoft
- Nintendo
- Sony Corporation
- Sega Corporation
- Electronic Arts Inc.
- Unity Technologies
- Ubisoft Entertainment
- Blizzard Entertainment, Inc
- Disney (Lucasfilm Ltd)
- Konami
For more information about this report visit https://www.researchandmarkets.com/r/4giuj
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