Dublin, Dec. 04, 2024 (GLOBE NEWSWIRE) -- The "Video Game Market Global Forecast Report by Platform Type, Age Group, Device, Countries and Company Analysis 2024-2032" report has been added to ResearchAndMarkets.com's offering.
The global video game market is estimated to increase from US$ 230.86 billion in 2023 to US$ 563.44 billion in 2032 at CAGR of from 2024 to 2032, which is 10.42%. This has contributed to the massive growth which is hinged on higher adoption of smart phones, better gaming technologies, and the increase in the popularity tradition of esports and gaming. 
Technological advancements are a key factor in the growth of the video game market. Hardware innovations such as more powerful gaming consoles and high-performance PCs Improve graphics, speed, and overall user experience. Additionally, software development Including game engines and artificial intelligence. This helps make the game more complex and immersive.
The rise of virtual reality (VR) and augmented reality (AR) games is changing the way players engage with games. Create a more interactive experience These technological advancements attract new gamers and maintain existing ones to provide a better gaming experience. August 2024 Black Myth: Wukong is a popular video game starring Chinese legend Sun Wukong and novel. The classic Journey to the West reached 1.4 million players shortly after release. The same goes for Steam's list of most played games.
Increasing Mobile Gaming Popularity
The rise of mobile games has led to a huge expansion of the video game market. As smartphones become more widespread So many people can access the game anytime, anywhere. The convenience of mobile gaming appeals to casual gamers and younger audiences alike. Get users involved Mobile platforms often offer free game models with in-app purchases to make them more accessible and monetizable.
Social media integration and multiplayer functionality promote competition and collaboration between players. It increases the adoption of mobile games and contributes to the market growth. By January 2024, global video game users are expected to reach approximately 3.32 billion users, reflecting the industry's enormous popularity and expected growth.
Growth of Esports and Streaming Platforms
The rise of eSports and streaming platforms has transformed gaming into a spectator sport. This has led to significant market growth. Competitive games attract and support a large audience. Make video games more visible and legal Streaming platforms such as Twitch and YouTube Gaming allow players to share games and interact with the community. This creating a gaming culture high exposure attracts new players and generates revenue through advertising. Subscriptions and Marketing growing acceptance of eSports as a potential business model is driving more interest and investment in the video game market.
Europe Video Game Industry
The European video game industry is experiencing significant growth driven by increasing consumer demand and technological advancements, key markets such as the UK, Germany and France are leading the way in game development and distribution which plays an important role in the expansion of this sector. The rise of mobile, esports and online gaming is sparking new interest and engagement among diverse audiences. European manufacturers are also focusing on innovative food and experiences, indulge this makes the industry a key player in the global arena.
Germany Video Game Industry
The German video game industry is a dynamic industry that is recognized as one of the largest in Europe. This industry has a wide variety of games including action games Simulation game and role-playing games that attract a large audience. Home to leading game developers and publishers such as Ubisoft Blue Byte and Crytek, Germany is a key supporter of global game launches.
The country hosts major gaming events such as Gamescom, which attract both industry experts and gamers. Additionally, the growing popularity of mobile games and esports drives innovation expand the player base and strengthen Germany's position as a key player in the global game. In August 2024, Gamescom released some amazing new news about the game. ""Borderlands"" ""Call of Duty"" and the following descriptions.
Saudi Arabia Video Game Industry
Saudi Arabia's video game industry is growing rapidly. It reflects Saudi Arabia's increasing focus on entertainment and digital innovation. Under Vision 2030, local manufacturers are gaining recognition in the global market thanks to government policies that promote diversity in gaming. The growth of esports has only increased this growth. This is one of the most important issues and competitions that attract players and viewers. A young and tech-savvy population is also driving demand for mobile and online games.
Meanwhile, Saudi Arabia continues to invest in game development and infrastructure. This industry is therefore ready to expand rapidly. By positioning the country as a new player in the global gaming industry. In November 2023, Manga Productions, part of the Mohammed bin Salman Misk Foundation, launched 'XP' in Riyadh in an organized manner. The event that launched the new video game community aims to connect with players across the country through a special gaming experience.
Video Game Company Analysis
The major participants in the Video Game market includes Activision Blizzard, Apple Inc., Disney, Electronic Arts Inc., Lucid Games, Microsoft, Nintendo, Rovio Entertainment Corp., Sony Interactive Entertainment Inc., Tencent Holdings Ltd.
Key Questions Answered in Report:
- How big is the Video Game industry?
- What is the Video Game industry growth rate?
- Who are the key players in Video Game industry?
- What are the factors driving the Video Game industry?
- Which Region held the largest market share in the Video Game industry?
- What segments are covered in the Video Game Market report?
All companies have been covered with 5 Viewpoints
- Overview
- Key Persons
- Recent Development & Strategies
- Product Portfolio
- Financial Insight
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 200 |
| Forecast Period | 2023 - 2032 |
| Estimated Market Value (USD) in 2023 | $230.86 Billion |
| Forecasted Market Value (USD) by 2032 | $563.44 Billion |
| Compound Annual Growth Rate | 10.4% |
| Regions Covered | Global |
Key Topics Covered:
1. Introduction
2. Research & Methodology
3. Executive Summary
4. Market Dynamics
4.1 Growth Drivers
4.2 Challenges
5. Global Video Game Market
6. Market Share Analysis
6.1 Platform Type
6.2 Age Group
6.3 Device
6.4 Country
7. Platform Type
7.1 Online
7.2 Offline
8. Age Group
8.1 Generation X
8.2 Generation Y
8.3 Generation Z
9. Device
9.1 Smartphones
9.2 Computer
9.3 Consoles
10. Country
10.1 North America
10.1.1 United States
10.1.2 Canada
10.2 Europe
10.2.1 France
10.2.2 Germany
10.2.3 Italy
10.2.4 Spain
10.2.5 United Kingdom
10.2.6 Belgium
10.2.7 Netherlands
10.2.8 Turkey
10.3 Asia Pacific
10.3.1 China
10.3.2 Japan
10.3.3 India
10.3.4 Australia
10.3.5 South Korea
10.3.6 Thailand
10.3.7 Malaysia
10.3.8 Indonesia
10.3.9 New Zealand
10.4 Latin America
10.4.1 Brazil
10.4.2 Mexico
10.4.3 Argentina
10.5 Middle East & Africa
10.5.1 South Africa
10.5.2 Saudi Arabia
10.5.3 UAE
11. Porter's Five Analysis
11.1 Bargaining Power of Buyers
11.2 Bargaining Power of Suppliers
11.3 Degree of Rivalry
11.4 Threat of New Entrants
11.5 Threat of Substitutes
12. SWOT Analysis
12.1 Strength
12.2 Weakness
12.3 Opportunity
12.4 Threat
13. Company Analysis
- Activision Blizzard
- Apple Inc.
- Disney
- Electronic Arts Inc.
- Lucid Games
- Microsoft
- Nintendo
- Rovio Entertainment Corp.
- Sony Interactive Entertainment Inc.
- Tencent Holdings Ltd.
For more information about this report visit https://www.researchandmarkets.com/r/vao9ru
About ResearchAndMarkets.com
ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.
Attachment
