Gaming Market

Gaming Market is accounted for USD 1,76,090 million in 2020, growing at a robust CAGR of 4.3% during forecast period.

Introduction of the Gaming Market Report

Games can be defined as the organized form of play that is highly popular for entertainment purposes. Gaming operates specialized applications known as electronic games or video games on game consoles like X-box and Playstation, personal computers, tablets, or smartphones.

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Market Dynamic

Key Drivers and Emerging Trends

The growing usage of internet and increasing adoption of smartphones majorly across developing countries like India are some factors that are drastically increasing the demand for mobile games in the market. The adoption of smartphones and the flexibility for in-game payment methods have led to the growth of the gaming industry. For instance, in 2019, Saudi Arabia had around 32.2 million internet users till January 2020, and there were around 40.2 million connections of mobile, an increase of 0.09% from January 2019. Moreover, several favorable government initiatives, such as funding and tax credits to support the gaming companies and enable them to expand their footprint across the world, are major factors bolstering the global gaming market size. For instance, the government of the UK announced the UK Games Fund, Euro 4 million, for the distribution of grants among the game development companies. Moreover, Special tax relief for the video game companies permits them to claim back up to 20% of the development cost of a new game.

With the COVID-19 pandemic in place, the focus for physical sports has been shifted to online gaming contributing to the rising demand for mobile games. Increased use of a smartphone with free online games is one of the key factors for the gaming market growth. For instance, according to WEF, the revenue recorded with a smartphone game is the highest among all other online formats, which is $85 billion in 2020.

Restraint in the Gaming Market

However, increasing concerns related to the restriction imposed by government such as restriction of age limit and time restriction on games has hamper the growth of this segment. The high cost of game development, increasing prevalence of counterfeit gaming products and piracy issues, difficulties related to hardware compatibility are some of the markets which acts as a market barrier. Increasing demand for low-cost and cheap consoles has increased the manufacturing of fraudulent products, resulting in the drive down the revenue opportunities for game developers.

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Game Type – Segment Analysis

Based on the Game Type, the Action segment dominates the global gaming market during the current and forecast period. The major factors which are boosting the growth of the market in this segment include growing investment in research & development activities, technological advancement, entry of new players, product innovation, and rising competition, among others. Moreover, the inclination of the young population towards action games is also driving the gaming market share.

Device Type – Segment Analysis

Based on the Device Type, the Smartphone games segment dominates the global gaming market during the current and forecast period. This is due to the rise in the penetration of the smartphone among the users, coupled with the powerful 5G networks and cloud-based infrastructure. For instance, according to WEF, the revenue recorded with a smartphone is the highest among all other online formats, which is USD 85 billion in 2020.

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Regional – Segment Analysis:

Based on the regional coverage, Asia-Pacific is expected to grow at a higher CAGR in the market over the forecast period. The factors that are propelling this region’s growth include the rise in the number of gamers in countries such as China, Japan, and India, as a result of the increasing adoption of internet and smartphone services. For instance, in 2021, according to National Investment Promotion & Facilitation Agency in India, there were 560 million online gamers. The launch of new games will further boost the global gaming market growth. According to International Trade Administration, China gaming industry revenue are led by the mobile game is USD 32 billion and USD 20.8 billion by E-sports in 2020.

Top Market Players

Various notable players operating in the market, include, Tencent, Activision Blizzard, Inc., Electronic Arts Inc., NetEase, Inc., NVIDIA Corporation, Apple Inc., Sony Corporation, Microsoft Corporation, Google LLC, Samsung Electronics Co., Ltd, among others. 

Key Developments:

• • In 2021, Electronic Arts Inc. acquired Codemasters, a racing games platform, to expand its games (racing) and expects to launch a new racing game every year.
  • In 2020, Tencent Games entered a partnership with Burberry in its online game Honour of Kings. Through this acquisition, the company got a lot of branding ideas and product design, and the games of Tencent provide another opportunity for the consumers to connect with the product line of Burberry.
  • In 2020, Activision Blizzard. Inc. entered a multi-year strategic relationship with Google to offer new experiences to the players. In this partnership, Google Cloud serves as a preferred provider of gaming hosting infrastructure of the company and will utilize the advanced data analytics, artificial intelligence, and various other capabilities of Google.
  • In 2020, Electronic Arts Inc. announced that the company has reached an agreement with the Board of Codemasters for the recommended acquisition of Codemasters, which is a game publisher and developer. In this acquisition, both the companies will develop innovative and amazing new racing games for the players.

Segments covered in the Report:

The Global Gaming market has been segmented based on Device Type, Game Type, and regions. Based on Device Type, the market is segmented into PC games, Smartphone games, Tablet games, and Console games. Based on Game Type, the market is segmented into Shooting, Action, Adventure, Strategy, Sports, and Others

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Key questions answered in this research report:

• • At what pace is Global Gaming market growing? What will be the growth trend in the future?
  • What are the key drivers and restraints in global gaming market? What will be the impact of drivers and restraints in the future?
  • What are the regional revenues and forecast breakdowns? Which are the major regional revenue pockets for growth in the global gaming market?
  • Which type generated maximum revenues in 2020 and identify the most promising type during the forecast period?
  • What are the various types of games of global gaming market and how are they poised to grow?
  • What companies are the major participants in this market and their business strategies, how does the competitive landscape look like?

Market Segmentation

Global Gaming Market by Game Type

• • Shooting
  • Action
  • Adventure
  • Strategy
  • Sports
  • Others

Global Gaming Market by Device Type

• • PC games
  • Smartphone games
  • Tablet games
  • Console games

Global Gaming Market by Region

• • North America Gaming Market (Option 1: As a part of the free 25% customization)
    • By Game Type
    • By Device Type
    • US Gaming Market All-Up
    • Canada Gaming Market All-Up
  • Europe Gaming Market (Option 2: As a part of the free 25% customization)
    • By Game Type
    • By Device Type
    • UK Gaming Market All-Up
    • Germany Gaming Market All-Up
    • France Gaming Market All-Up
    • Spain Gaming Market All-Up
    • Rest of Europe Gaming Market All-Up
  • Asia-Pacific Gaming Market (Option 3: As a part of the free 25% customization)
    • By Game Type
    • By Device Type
    • China Gaming Market All-Up
    • India Gaming Market All-Up
    • Japan Gaming Market All-Up
    • Rest of APAC Gaming Market All-Up
  • RoW Gaming Market (Option 4: As a part of the free 25% customization)
    • By Game Type
    • By Device Type
    • Brazil Gaming Market All-Up
    • South Africa Gaming Market All-Up
    • Saudi Arabia Gaming Market All-Up
    • UAE Gaming Market All-Up
    • Rest of world (remaining countries of the LAMEA region) Gaming Market All-Up

Major Players Operating in the Gaming (Option 5: As a part of the Free 25% Customization – Profiles of 5 Additional Companies of your Choice)

• • Tencent
  • Activision Blizzard, Inc.
  • Electronic Arts Inc.
  • NetEase, Inc.
  • NVIDIA Corporation
  • Apple Inc.
  • Sony Corporation
  • Microsoft Corporation
  • Google LLC
  • Samsung Electronics Co., Ltd.