08-Jan-2021 | Zion Market Research
As per the researchers at Zion Market Research, the global gaming market is projected to expand at around 11.9% CAGR during the forecast period from 2019 to 2025. Few of the prominent players in the global gaming market consist of Bandai Namco Entertainment Inc., Activision Blizzard Inc., Electronic Arts Inc., CyberAgent Inc., Microsoft Corp., GungHo Online Entertainment Inc., Sony Corp., NetEase Inc., The Walt Disney Co., and Tencent Holdings Ltd.
Increasing Internet Penetration Expected To Drive The Growth Of Global Gaming Market
The growth of the global gaming market is projected to be driven by several factors like the rising internet penetration, rising spending capacity, increasing access to smart devices, gambling authorization in countries like the US, and an overall rise in worldwide population, particularly between the ages from 20 to 64. Further, platforms like fantasy and e-sports betting sites have lured more funds, thus fueling market growth. Moreover, the integration of gaming and blockchain technology holds the potential for the expansion of industries. A helpful tool is offered by blockchain for gamers for several reasons comprising confirmable shortage of virtual objects & collectibles, decentralized asset exchanges, secure & fast payment networks, and a capability for developers to appropriately monetize their developments. Nevertheless, problems like laws & regulations, piracy, and worries associated with deception during gaming transactions are projected to hinder the market growth.
By Game Type, Console Segment Is Projected To Observe Substantial Growth In The Years To Come
The latest trend is the rising popularity and accessibility of the multi-functional gaming console in the global gaming market and thereby driving the market growth. A video game console is a modified computer system or interactive entertainment computer, which generates a video display signal that can be utilized with a display device (monitor, a television, and so on) to exhibit a video game. At present, the best variant of the most famous game platform accessible is PlayStation 4 Pro. Having HDR 10 compatibility, 4K, along with the special game library of PlayStation 4, it is at present the top plug-and-play gaming platform that envisages more revenue production in the coming period in video game console segment. To cite, Controller and Game Console were merged into one part by NEOGEO Arcade Stick Pro in Sep 2019, where the controller also possesses a turbo switch, “start/select” buttons, and ports for USB & HDMI. This novel advancement will assist to lure the users, thus driving the segmental growth.
The Asia Pacific Expected To Grab The Biggest Market Share During The Forecast Period
Regionally, in 2018, the global gaming market has been ruled by the Asia Pacific region with the biggest market share. The supremacy of this region is credited to the existence of a majority of the prominent market players that are presenting their gaming services in the Asia Pacific. Expenditures by gaming firms are primarily boosting the Asia Pacific gaming market. Further, the rising count of smartphone users, enhancing broadband connections, uplifting lifestyles, along with enhancing economic conditions in this region are projected to fuel the market growth during the forecast period.
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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