According to Fortune Business Insights™, the global gaming market size is expected to gain momentum by reaching USD 545.98 billion by 2028 while exhibiting a CAGR of 13.20 % between 2021 and 2028. Fortune Business Insight, in its report titled “Gaming Market, 2021-2028.”, mentions that the market stood at USD 203.12 billion in 2020.
The key players in the market are focusing on improvements and advancements to provide their users with premium quality games. To do so, they are working on hardware, software bandwidth, and mobile internet speed. Moreover, many key players are focusing on acquisitions. For instance, in September 2019, Microsoft acquired a video game Company named ZeniMax for USD 7.5 billion.
The video game industry is flourishing worldwide, despite the pandemic. The worldwide economy faced unprecedented economic disruption due to lockdowns. Thus the gaming industry boomed, and the revenue witnessed a huge upsurge.
List of the Companies Profiled in the Global Gaming Market:
- Microsoft Corporation (Redmond, Washington, United States)
- Nintendo Co., Ltd (Kyoto, Japan)
- Rovio Entertainment Corporation (Espoo, Finland)
- Nvidia Corporation (California, United States)
- Valve Corporation (Washington, United States)
- PlayJam Ltd (London, United Kingdom)
- Electronic Arts Inc (California, United States)
- Sony Group Corporation (Tokyo, Japan)
- Bandai Namco Holdings Inc (Tokyo, Japan)
- Activision Blizzard, Inc (California, United States)
What does the Report Provide?
Rising Cellular Subscription to Propel Market Growth
Asia Pacific to Dominate Backed By Presence of Gaming Giants
Asia Pacific – The region is expected to hold the highest position in the market during the forecast period The region’s revenue was USD 589.4 million in 2017. The regional market stood at USD 86.96 billion in 2020.
A report by Ukie.Org. Uk suggested that in 2019 esports revenue in the UK was USD 76.53 million.
Firstly, Based on the end-user, the male segment held a major gaming market share of about in 2020. This is attributable to the presence of a large number of games of their preference. Men usually like games that have action, battle games, racing, and sports.
Thirdly, Major Key Players Focus on Acquisitions to Strengthen Their Market Positions
Key Industry Development
November 2020: Sony launched Playstation 5 in North America, Australia, Japan, and New Zealand.