Gaming Market Size to Grow by USD 74.93 billion due to Growing Adoption Of AR And VR Games - 17,000+ Technavio Research Reports
NEW YORK, Aug. 16, 2022 /PRNewswire/ -- The "Gaming Market by Type and Geography - Forecast and Analysis 2022-2026" report has been added to Technavio's offering. With ISO 9001:2015 certification, Technavio is proudly partnering with more than 100 Fortune 500 companies for over 16 years. The potential growth difference for the gaming market between 2021 and 2026 is USD 74.93 billion, as per the latest market analysis report by Technavio. The report predicts the market to witness an accelerating growth momentum at a CAGR of 7.31%. Technavio categorizes the global gaming market as a part of the global interactive home entertainment market. Our report provides extensive information on the value chain analysis for the gaming market, which vendors can leverage to gain a competitive advantage during the forecast period. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.
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Key Market Dynamics:
- Market Driver: One of the key factors driving the global gaming industry growth is the growing adoption of AR and VR games. Game developers prefer AR and VR devices to traditional gaming devices. For instance, companies such as Sony and Microsoft are developing gaming platforms using cutting-edge three-dimensional (3D) technologies. AOL Partner Studio partnered with OMD and Sony and launched Smurfs: The Lost Village game for HoloLens. Microsoft developed RoboRaid, a first-person shooter AR game for HoloLens.
- Market Challenge: One of the key challenges to the global gaming industry's growth is the regulation of loot boxes. Players purchase loot boxes to obtain new characters, animations, and cosmetic items, which might not have a direct impact on the gameplay performance. The use of loot boxes in games has been viewed as an unauthorized form of online gambling and an addictive practice, particularly for children.
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Market Segment Highlights:
The gaming market report is segmented by Type (casual gaming and professional gaming) and Geography (APAC, North America, Europe, Middle East and Africa, and South America).
- Regional Opportunities: APAC will be the leading region with 56% of the market's growth during the forecast period.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 contribute to the growth of the gaming market in APAC during the forecast period.
- Revenue-generating Segment Insights: The gaming market share growth in the casual gaming segment will be significant during the forecast period. Amid the COVID-19 pandemic, the adoption of online gaming solutions has increased significantly. Increasing adoption of smartphones will drive the segment growth in the coming years. Due to the pandemic-induced lockdowns, the brick-and-mortar facilities for gaming were closed for several weeks. This led to an increase in the adoption of online gaming solutions among professional and casual gamers.
View our sample report for additional insights into the contribution of all the segments and regional opportunities
Some Companies Mentioned with their Offerings
- Activision Blizzard Inc.
- Alphabet Inc.
- Apple Inc.
- Bandai Namco Holdings Inc.
- DeNA Co. Ltd.
- Electronic Arts Inc.
- Epic Games Inc.
- GungHo Online Entertainment Inc.
- Jam City Inc.
- Kunlun Wanwei Technology Co. Ltd.
- Microsoft Corp.
- NetEase Inc.
- Niantic Inc.
- Nintendo Co. Ltd.
- Rovio Entertainment Corp.
- Square Enix Holdings Co. Ltd.
- Sony Group Corp.
- The Walt Disney Co.
- Ubisoft Entertainment
- ZeptoLab UK Ltd.
- Access more vendor profiles with their key offerings available with Technavio, Download Sample Report
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Gaming Simulators Market by End-user, Component, Type, and Geography - Forecast and Analysis 2020-2024
Mobile Gaming Market by Platform and Geography - Forecast and Analysis 2022-2026
Gaming Market Scope | |
Report Coverage | Details |
Page number | 120 |
Base year | 2021 |
Forecast period | 2022-2026 |
Growth momentum & CAGR | Accelerate at a CAGR of 7.31% |
Market growth 2022-2026 | $ 74.93 billion |
Market structure | Fragmented |
YoY growth (%) | 6.52 |
Regional analysis | APAC, North America, Europe, Middle East and Africa, and South America |
Performing market contribution | APAC at 56% |
Key consumer countries | US, China, Japan, South Korea, and Germany |
Competitive landscape | Leading companies, competitive strategies, consumer engagement scope |
Companies profiled | Activision Blizzard Inc., Alphabet Inc., Apple Inc., Bandai Namco Holdings Inc., DeNA Co. Ltd., Electronic Arts Inc., Epic Games Inc., GungHo Online Entertainment Inc., Jam City Inc., Kunlun Wanwei Technology Co. Ltd., Microsoft Corp., NetEase Inc., Niantic Inc., Nintendo Co. Ltd., Rovio Entertainment Corp., Square Enix Holdings Co. Ltd., Sony Group Corp., The Walt Disney Co., Ubisoft Entertainment, and ZeptoLab UK Ltd. |
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 purview | If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
Key Topics Covered:
- Executive Summary
- Market Landscape
- Market Sizing
- Five Forces Analysis
- Market Segmentation by Type
- Market Segmentation by Platform
- Market Segmentation by Device
- Customer landscape
- Geographic Landscape
- Vendor Landscape
- Vendor Analysis
- Appendix
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