09-Feb-2022 | Zion Market Research
As per study of Zion Market Research, Gaming industry garnered revenue worth nearly US$ 201 billion in 2021 and is anticipated to gain returns about US$ 435 billion by 2028. In addition to this, Gaming market is prognosis to record CAGR of almost 12.1% in 2022-2028. Apparently, growth of gaming market over forecast timespan is subject to rise in lockdown as a result of COVID-19 pandemic outbreak forcing people to stay indoors and turn to gaming platforms on their smartphones, console, tablets, and laptops. Apart from this, a prominent rise in usage of internet and seamless gaming experience for end-users with launch of 4G and 5G wireless network technologies will prop up expansion of gaming market. Furthermore, onset of e-sports mania has created new growth avenues for gaming business across globe. Reportedly, time spent on watching video games has also increased. Individuals including children as well as adult & millennial population are launching live game streaming videos and trying to attract large number of subscribers to their videos through tools such as YouTube. Apparently, these games help in creating creative content and produce exceptional game play moments that are shared & viewed by large number of population across globe. All these aforementioned aspects will create new growth avenues for gaming industry in upcoming years.
Smartphone Segment To Dominate Game Type Scenario By 2028
Rapid expansion of smartphone segment over forecast timespan can be credited to rise in use of smartphones across globe and high internet penetration even in remote areas. In addition to this, new features are added to AR, cloud gaming, and VR for improving end-user experience of gaming on smartphone. This will culminate into humungous expansion of gaming market owing to huge smartphone usage.
Asia Pacific Gaming Market To Retain Dominance Over 2022-2028
Growth of gaming market in Asia Pacific zone in next six years can be credited to launching of smartphones with new embedded features by giant manufacturers in countries such as Chin, South Korea, Malaysia, Singapore, India, Japan, and Taiwan. Additionally, growing popularity of e-sports in countries such as South Korea and Taiwan will proliferate regional market growth. Reportedly, there is online streaming of games on MTV and YouTube in countries such as India. This has contributed tremendously towards regional market profit margins.
Few of major players have strongly impacted growth of gaming industry and will continue to do so even in coming years. They are The Walt Disney Co., Sony Corp., GungHo Online Entertainment Inc., NetEase Inc., Electronic Arts Inc., Bandai Namco Entertainment Inc., Activision Blizzard Inc., Microsoft Corp., CyberAgent Inc., and Tencent Holdings Ltd.
Browse the full “Global Gaming Market - By Game Type (Tablet, Console, Downloaded/Box PC, Smartphone, And Browser PC) And By Region - Global Industry Perspective, Comprehensive Analysis, And Forecast, 2019 – 2025.” Report at https://www.zionmarketresearch.com/report/gaming-market
The global Gaming Market is segmented as follows:
By Game Type
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