Video Games: Global Markets

NEW YORK, Dec. 12, 2022 /PRNewswire/ --

Report Scope:
In this report, the market has been segmented based on genre, mode, platform, and geography.The report provides an overview of the global video gaming market and analyzes market trends.



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Using 2021 as the base year, the report provides estimated market data for the forecast period, 2022-2027.Revenue forecasts for this period are segmented based on genre, mode, platform, end user, and geography.

Market values have been estimated based on the total revenue of video game developers.Video gaming publishers can earn revenue from games through various processes.

The methods of monetizing games vary, especially between different genres or platforms. Revenues benefit developers, copyright owners, and other stakeholders. Some important revenue streams for video game publishers include retail purchases, digital distribution, subscription models, microtransactions, downloadable content, player trading, and advertising.

The report covers the market for video games regarding the end user base, and provides updated data of different regions.It also highlights major trends and challenges that affect the market and the vendor landscape.

The report estimates the global market for video games in 2021 and provides projections for the expected market size through 2027.

Report Includes:
- 38 data tables and 35 additional tables
- An overview of the global video gaming market and discussion on its key market developments
- Estimation of the market size and analyses of global market trends, with data from 2021, estimates for 2022 and projections of compound annual growth rates (CAGRs) through 2027
- Analysis of market trends and identification of new opportunities, challenges, and technological changes within the industry
- A look into the development of augmented reality (AR) and virtual reality (VR) in the video gaming industry and discussion on educational applications of video games
- Highlights of current and future market potential, market size, and market share analysis based on genre, mode, type, platform and region
- Company profiles of major players within the industry, including Apple Inc., Microsoft Corp., Nintendo Co. Ltd., Sony Corp., Tencent Holdings Ltd., and Warner Bros. Entertainment Inc.

Summary:
The video gaming industry is currently among the fastest-growing segments in the entertainment business.The global market for video games is predicted to be $REDACTED by 2027, up from $REDACTED in 2021.

It is estimated that there are currently more than REDACTED gamers around the world.The gaming market is dominated by world-famous consoles and brands from reputable game development companies such as Sony PlayStation, Nintendo, Xbox, etc.

The sector is characterized by a tremendous amount of innovation and dynamics, not just growth.More than one billion video game consoles have been sold, worldwide, over the last decade.

Marketing executives are turning to video games in a wide variety of industries to market goods, through movie tie-ins and in-game promotion. One of the important factors that influences the video game industry is the availability of platform and game distribution technologies globally. The rising demand for video games has opened up new avenues for the industry.

In 2021, the global video gaming industry was estimated at $REDACTED and is expected to rise to $REDACTED by 2027, growing at a CAGR of REDACTED%.Some of the major factors driving growth in the video gaming market include steady rise in the number of gamers, increased innovation in game design, increased interest in eSports, the advancement of augmented reality (AR) and virtual reality (VR), and future turning towards the Metaverse.

Nevertheless, video gaming market growth is being hampered by factors such as piracy concerns and game addiction regulations.

In this report, the video gaming market was segmented, based on genre, into action games, shooting, sports, role-playing, adventure, racing, strategy, and others. Games like puzzles, skill & chance, simulation etc., which are segmented together in the others category, are the most popular as they are effective in having fun, comfort, and enjoying with friends as well as family. The next most popular genre is action games which test the reflexes, reaction speed, and hand-eye coordination of players. The video gaming industry is classified by platform: console games, mobile games, PC games, and others. Mobile gaming is the largest contributor to the ever-expanding demand for video games today. Combining both smartphones and tablets, mobile gaming accounts for around half of the entire 2021 video gaming market, estimated at $REDACTED. Mobile games currently account for almost REDACTED% of all device purchases. This is almost one-third of the global population. In the first quarter of 2022, consumers spent a total of more than $REDACTED per week on mobile games on the iOS App Store and Google Play Store, a REDACTED% increase in spending compared to the previous quarter before the pandemic. Personal Computers (PC) video games are the second-largest market. In 2021 PC video games were valued at $REDACTED. The PC platform is expected to grow at a CAGR of REDACTED% and is projected to
reach $REDACTED by 2027.

In 2021, Asia-Pacific (APAC) was the largest video games market, worldwide, holding REDACTED% of the market.About REDACTED of the world's three billion smartphone users live in the APAC region.

China, Japan, and India are the three largest national gaming markets.China is the APAC region's largest gaming market, with gaming sales of $REDACTED.

Japan is second with $REDACTED and India is third with $REDACTED.North America is the second-largest regional market for video games, estimated at $REDACTED.

It is projected that the demand for video games in North America will rise at a CAGR of REDACTED% and reach $REDACTED by 2027.

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