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Gaming Market Share, Key Players and Competitive Landscape

https://www.fortunebusinessinsights.com/gaming-market-105730


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Nitesh Vhaval

3 months ago | 2 min read
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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.

The gaming market is fragmented by major companies that are focusing on maintaining their presence. They are doing so by proactively investing in R&D activities to develop engaging online video games. Additionally, other key players are adopting organic and inorganic strategies to maintain a stronghold that will contribute to the growth of the market during the forecast period. Online video games have become more prevalent in recent years.

Most people find online games attractive and a modest way to find free time from their hectic schedules. Moreover, during the pandemic, the inclination toward gaming increased dramatically.  Many companies such as Nintendo and Tencent witnessed an increase in their sales during the first quarter. The former showcased a profit of 41%, as it sold many of its games digitally. The demand for online games will be persistent in upcoming years, and this market is anticipated to boom during the forecast period.

Market Segmentation:

Based on game type, the market is divided into shooter, action, sports, role-playing, and others.

Based on game type, the shooter segment held a gaming market share of about 23.35% in 2020. The segment is expected to experience considerable growth since it provides 3D realistic graphics. It makes players experience a whole new experience of the virtual world. This fascinating atmosphere provided by battle games is driving the segment market.  

By device, it is segmented into PC/MMO, tablet, mobile phone, TV/console. On the basis of end-user, it is bifurcated into male and female. Finally, the market is categorized into North America, Europe, Asia Pacific, South America, and the Middle East & Africa based on region.

Regional Insights

Asia Pacific to Remain at Forefront Backed by Rising Urban Population

Asia Pacific – The region is expected to hold the highest position in the market during the forecast period. This is ascribable to the rapid growth in the urban population. The rising awareness about trending video games is helping the market to thrive in the region.  The report from World Bank.Org data suggests that in 2019 the urban population of the East Asia Pacific was 59.887 % which rose from 59.053 % from the previous year. The regional market stood at USD 86.96 billion in 2020.

North America – The rising number of children with their smart devices is surging the market. For instance, the data released by the National Public Radio.Org in October 2019 stated that more than half of the children in America possess their smartphones.

 Source:

https://www.fortunebusinessinsights.com/gaming-market-105730

 



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