So, the trend of social media gaming is also expected to foster the global gaming market growth within the forecast period. However, a steep rise in video game-related health issues and problems may hamper the global gaming market growth.
North America is expected to show a significant growth in the global gaming market owing to the increasing preferences for all gaming platforms such as mobile, PC and console, mobile gaming and rising overall the total consumer spend on video gaming in this region.
Interested in this report? Request Methodology. Let us help you Click here to get discount. What is the size of the Gaming industry? Detail Information. What are the key factors driving Gaming Market? Request for Table of Content. Hence, these games attract players of multiple demographics worldwide and act as a driving factor for their growth. For instance, in May , the data presented by the World Economic Forum.
Likewise, the booming mobile cellular subscription has also played a significant role in spiking the demand for mobile games. For instance, the data presented by the World Bank. Org, mentions that in the global mobile cellular subscription is The growing number of gamers who intensely play video games, especially children, is often turned into an addiction. This hampers their studies and gives rise to social anxiety.
Thus such activities are repelling parents to purchase a gaming system for their children. In addition to this, addiction to video games can even turn to mental health issues propelling parents to repel from purchasing the product for their kids. This is likely to act as a restraining factor for the growth of the gaming market.
To know how our report can help streamline your business, Speak to Analyst. Shooter Segment to Stay at the Forefront. Based on the game type, the market is fragmented into shooter, action, sports, role-playing, and others. The shooter segment is projected to hold a strong gaming market share on account of most shooter games providing 3D realistic graphics, which often come with multiplayer functionality, attractive weapons and characters, and obsessive challenging tactical missions. Therefore, these thus play a crucial role in helping to attract more gamers to this type of game.
On the other hand, segments such as action, sports, role-playing, and others are also experiencing a decent market enlargement. These genres of games can meet the desire of a specific target audience from sportsmen to women, children, and even the elderly population. Mobile Phone to Hold Dominant Share.
The mobile phones segment is anticipated to remain dominant due to the increasing number of people owning smartphones.
A large number of game developers are shifting their focus to increased production of games, particularly design for mobile phones. Most of these devices are often chosen by serious gamers as they are more capable of handling high-definition games requiring powerful processors, graphic cards, and RAM. Male Segment is Anticipated to Lead. The male segment is estimated to be a bigger market due to the large number of games available in the market, such as racing, sports, action, and others, designed to be more male-oriented than females.
Hence, this plays a significant contribution in male dominance in the industry. The female segment is increasingly showing a progressive rise, as more females are influenced by online gaming platforms such as Twitch, where they can gain loyal fans who are willing to support their channels financially. To get more information on the regional analysis of this market, Request a Free sample. Asia Pacific stood at USD Video game consoles observing escalating traction among consumers of this region have played a significant role in gaming industry development.
In addition, the rapid growth in the urban population is giving rise to the increasing awareness of trending video games launched and retailed in the market, helping to surge the consumption rate. According to the World Bank. But we expect some of this growth will taper off in Get business insights on the latest tech innovations, market trends, and your competitors with data-driven research.
US digital gamers will reach over million this year. Insider Intelligence. Gamers turned to devices like Xbox as time spent at home increased. Game developers like Nintendo boomed amid the pandemic. Twitch was the most dominant platform for GVC content worldwide in Q4 The ability to connect with others during the pandemic elevated the social aspects of gaming.
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Other Games Card Games 4. Console 4. Computer 4. Mobile Devices 4. Others 4. Free Gaming Services 4. Paid Gaming Services 5. Company Profiles 5. Activision Blizzard, Inc. Luna 5. Apple Inc. Bandai Namco Entertainment Inc. Electronic Arts Inc. Epic Games, Inc. Microsoft Corp. Xbox Game Studios 5. Nintendo Co. Gameloft SE 5. GungHo Online Entertainment Inc. Rockstar Games, Inc.
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