Video Game Market

Video Game Market registered a revenue of USD 196.3 billion in 2021 and is projected to reach USD 399.8 billion in 2029, growing at a CAGR of 9.3% during the forecast period 2022-2029.

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Key Drivers

The major factors driving the global video game market include the increasing adoption of these games among individuals as a result of the easy availability of video games and various benefits offered by these games such as it acts as a stress boosters, has the ability to increase self-esteem, confidence, and communication abilities. Moreover, the availability of low-cost internet access and the consistent growth of smartphone users across the world are also surging the demand for video games in the market during the forecast period. The utilization of advanced technologies such as Artificial Intelligence, the introduction of Virtual reality (VR), and the advancement in graphics to improve the overall experience of the players are some other factors that have further augmented the growth of the global video game market. In addition to this, the shift in the population from physical games to online games and the presence of a variety of genres of games such as strategy, action, and adventure are the significant factors that will accelerate the demand for video games in the market worldwide. The factors which are responsible for hindering the growth of the global video game market include the increase in health-related issues as a result of playing video games and the growing number of addiction, aggression, and violence among individuals.

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Device Type – Segment Analysis

Based on the device type, the console segment is anticipated to increase at a higher compound annual growth rate in the global video game market during the forecast period owing to the various advancements in the console, such as the incorporation of recording and online sharing of the in-game footage. Moreover, the presence of high-end sound systems and displays to improve the overall experience is also a major factor fuelling the growth of the market in this segment.

Platform Type – Segment Analysis

Based on the platform type, the online games segment is projected to grow at a higher CAGR over the forecast period in the global video game market due to the rising penetration of such games worldwide as a result of increasing usage of smartphones and growing demand for cloud gaming among the players. In addition to this, the rising inclination of the players towards interactive entertainment systems and the growing demand for online games owing to their ability to enhance the gaming experience are further boosting the growth of the market in this segment.

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Regional – Segment Analysis

Based on the region, the Asia-Pacific region is expected to increase at a higher rate during the forecast period in the global video game market due to the rising demand for video games among the people driven by the growing number of smartphone users and growing penetration of internet across this region. Moreover, the increasing preference of interacting entertainment, rising interest for social games & pay-to-play games, and growth in the number of online gaming tournament are some other factors which are bolstering the growth of the video game market in this region.

Top Market Players

Various notable players operating in the market include Tencent, Sony Corporation, Microsoft, Apple Inc., Lucid Games Ltd, Electronic Arts Inc., Nintendo, BANDAI NAMCO Entertainment Inc., Rovio Entertainment Corporation, and Activision Blizzard, Inc., among others. 

Key Developments: 

• • In 2020, Tencent expanded its partnership with the Japanese gaming companies in response to the increasing US-China technology friction.
  • In 2020, Microsoft acquired a video game company, ZeniMax Media, for USD 7.5 billion. Through this acquisition, the company achieved control of the major gaming titles Fallout, The Elder Scrolls, Doom, Quake, and Wolfenstein.

Segments covered in the Report:

The global video game market has been segmented on the basis of device type, genre, age group, platform type, gamer type, and regions. Based on device type, the market is segmented into tablet, smartphone, console, PC, and others. Based on genre, the market is segmented into action games, shooter games, role-playing games, sports games, racing games, adventure games, strategy games, and others. Based on the age group, the market is segmented into age group 10-20, age group 21-35, age group 36-50, and age group 51-65. Based on platform type, the market is segmented into online games and offline games. Based on the gamer type, the market is segmented into casual gamers and extreme gamers. 

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Key questions answered in this research report:

• • At what pace is the global video game market growing? What will be the growth trend in the future?
  • What are the key drivers and restraints in the video game 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 video game market?
  • Which device type generated maximum revenues in 2021 and identify the most promising device type during the forecast period?
  • What are the various platform types of the global video game market and how they are poised to grow?
  • What companies are the major participants in this market and their business strategies, how does the competitive landscape look like?

Report Coverage	Details
Market Revenues (2021)	USD 196.3 billion
Market Base Year	2021
Market Forecast Period	2022-2029
Base Year & Forecast Units	Revenues (USD Billion)
Market Segment	By Device Type, By Genre, By Age Group, By Platform Type, By Gamer Type, By Region
Regional Coverage	Asia Pacific, Europe, North America, and RoW
Companies Profiled	Tencent, Sony Corporation, Microsoft, Apple Inc., Lucid Games Ltd, Electronic Arts Inc., Nintendo, BANDAI NAMCO Entertainment Inc., Rovio Entertainment Corporation, and Activision Blizzard, Inc., among others; a total of 10 companies covered.
25% Free Customization Available	We will customize this report up to 25% as a free customization to address our client’s specific requirements

Market Segmentation

Global Video Game Market by Device Type

• • Tablet
  • Smartphone
  • Console
  • PC
  • Others

Global Video Game Market by Genre

• • Action Games
  • Shooter Games
  • Role-Playing Games
  • Sports Games
  • Racing Games
  • Adventure Games
  • Strategy Games
  • Others

Global Video Game Market by Age Group

• • Age Group 10-20
  • Age Group 21-35
  • Age Group 36-50
  • Age Group 51-65

Global Video Game Market by Platform Type

• • Online Games
  • Offline Games

Global Video Game Market by Gamer Type

• • Casual Gamers
  • Extreme Gamers

Global Video Game Market by Region

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

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

• • Tencent
  • Sony Corporation
  • Microsoft
  • Apple Inc.
  • Lucid Games Ltd
  • Electronic Arts Inc.
  • Nintendo
  • BANDAI NAMCO Entertainment Inc.
  • Rovio Entertainment Corporation
  • Activision Blizzard, Inc.