NEW YORK, Nov. 17, 2021 /PRNewswire/ -- "Gaming Market - Forecast and Analysis Report 2021-2025", the market witnessed a YOY growth rate of 10.41% at an accelerating CAGR of 12% between 2020 and 2025.
Revenue Generating Segment
The gaming market share growth by the casual gaming segment will be significant during the forecast period. The market for casual gaming is growing with the increasing adoption of mobile gaming. Most casual gamers prefer mobile devices over PCs and consoles because of easy access to the games.
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The report is segmented by type (casual gaming and professional gaming), device (mobile gaming, console gaming, and PC gaming), platform (online and offline), and geography (APAC, North America, Europe, MEA, and South America).
Vendor Insights
The global online gaming market is fragmented and the vendors are deploying various organic and inorganic growth strategies to compete in the market.
The growing competition in the market is compelling vendors to adopt various growth strategies such as promotional activities and spending on advertisements to improve the visibility of their products. Some vendors are also adopting inorganic growth strategies such as M&As to remain competitive in the market.
For Instance, In April 2020, CyberAgent Inc. announced that Kozo Takaoka, former Representative Director, President, and CEO of Nestlé Japan Ltd., was appointed to the corporate advisor of the company on April 1, 2020. Similarly, In January 2021, Microsoft Corp. announced the launch of its new India Development Center (IDC) facility at NCR that would serve as a premier hub for driving cutting-edge engineering and innovation.
The report analyzes the market's competitive landscape and offers information on several market vendors, including:
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Geographical Market Analysis
APAC will provide maximum growth opportunities in the gaming market during the forecast period. According to our research report, the region will contribute 56% of the global market growth and is expected to dominate the market through 2025.
China, Japan, and South Korea (Republic of Korea) are the key markets for gaming in APAC. Market growth in APAC will be faster than the growth of the market in other regions. The increasing penetration of e-sports in developing countries, such as Taiwan, Malaysia, and Singapore will facilitate the gaming market growth in APAC over the forecast period.
Know more about this market's geographical distribution along with the detailed analysis of the top regions. https://www.technavio.com/report/gaming-market-size-industry-analysis
Key Market Trends & Challenges:
The increasing emergence of cloud gaming is a major factor supporting the gaming market share growth. Cloud gaming technology enables users to stream video games from the web. The increasing popularity of social media and mobile gaming is supporting the growth of cloud gaming. Cloud gaming services have the potential to reach non-core gamers that play games on social media and mobile devices because of the cost-effective price structure of cloud gaming. Cloud gaming eliminates the need for high-quality graphic cards in PCs and mandatory PC upgrades and offers an enhanced gaming experience on any device that has average processing capability. Thus, the emergence of cloud gaming will drive the growth of the global gaming market during the forecast period.
The regulation over loot boxes will be a major challenge for the gaming market. Loot boxes are digital boxes or packages consisting of in-game items that are sold for money or in-game currency. The use of loot boxes in games has been viewed as an unauthorized form of online gambling and an addictive practice, particularly for children. As a result, governments in many countries, such as China, Japan, Belgium, and Australia, have introduced strict regulations regarding the use of loot boxes during the design and release of games in those countries. These regulations might have a negative impact on the market growth as loot boxes account for a major chunk of in-app purchases.
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Gaming Market Value Chain Analysis
It includes the following core components:
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Gaming Market Scope |
|
Report Coverage |
Details |
Page number |
120 |
Base year |
2020 |
Forecast period |
2021-2025 |
Growth momentum & CAGR |
Accelerate at a CAGR of over 12% |
Market growth 2021-2025 |
USD 125.65 billion |
Market structure |
Fragmented |
YoY growth (%) |
10.41 |
Regional analysis |
APAC, North America, Europe, MEA, and South America |
Performing market contribution |
APAC at 56% |
Key consumer countries |
China, US, Japan, South Korea (Republic of Korea), and Germany |
Competitive landscape |
Leading companies, competitive strategies, consumer engagement scope |
Companies profiled |
Activision Blizzard Inc., Bandai Namco Holdings Inc., CyberAgent Inc., Electronic Arts Inc., GungHo Online Entertainment Inc., Microsoft Corp., NetEase Inc., Sony Corp., Tencent Holdings Ltd., and The Walt Disney Co. |
Market Dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and future consumer dynamics, and market condition analysis for the forecast period. |
Customization preview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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