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Global Video Games Market Research Report - Segmented By Device (Console, Mobile And Computer), By Revenue Type (In-Game Purchase, Game Purchase And Advertising), By Age Group (Adult Games And Children Games), By Type (Online Video Games And Offline Video Games) And By Region- 2022 to 2027

Published: March, 2023
ID: 11952
Pages: 150
Formats: report pdf report excel report power bi report ppt

Video Games Market Size & Growth Analysis (2022 - 2027)

The Video Games Market was worth US$ 167.50 billion in 2021, and it is estimated to reach a valuation of US$ 291.16 billion by the end of 2026, expanding at an annual growth rate of 8.2% between 2021 and 2026.

As we all are aware that the gaming refers to a computer application which is played with a set of rules which involves both mental and physical stimulation that provides entertainment as well as relaxation to the player or the spectators. Now a days, gaming has become a powerful tool which can help children in developing certain life skills and also aid the educators in seeking ways to supplement the classroom teaching.

Recent Developments

  • In the month of January 2018, Microsoft Company has acquired PlayFab which was a live gaming service provider which helps to accelerate the advancements in game development innovation on a cloud platform.

Market Growth

The increasing penetration of internet services which were coupled with easy availability and access of games on the internet is a factor that is expected to lead the Video Games market during the forecast period.

Market Drivers

Rising of inclination form physical games to online games across the globe which has led industries to focus more on hardware compatibility and efficiency is expected to play an essential role in the growth of market of Video Games across the globe. Another factor such as rising of disposable income level which influence the growth of Video Games market during the forecast period. Changing of consumer preference which led to the adoption of more advanced gaming consoles which were equipped with additional features such as record and share and cross platform gameplay, availability of different genres of games in the market such as action, role play, simulation and strategy, growing popularity of sports tournaments, increasing number of professional gamers across the globe are some of the major driving factors which promotes the growth of the revenue rate of Video Games market during the forecast period.

Market Restraints

Rising adoption of counterfeit products at low cost is one of the important barriers to market growth. Also, the copyright and privacy issues, fraud during game transactions, a steep rise in video game related health issues and problems acts as an important deterrent to the growth of the Video Games market.

VIDEO GAMES MARKET REPORT COVERAGE:

REPORT METRIC

DETAILS

Market Size Available

2020 – 2026

Base Year

2020

Forecast Period

2022 - 2027

CAGR

8.2%

Segments Covered

By Device, Type, Revenue Type, Age Group, and Region.

Various Analyses Covered

Global, Regional & Country Level Analysis, Segment-Level Analysis, DROC, PESTLE Analysis, Porter’s Five Forces Analysis, Competitive Landscape, Analyst Overview on Investment Opportunities

Regions Covered

North America, Europe, APAC, Latin America, Middle East & Africa

Market Leaders Profiled

Xbox One by Microsoft Corporation, and Wii U by Nintendo Co., Ltd., PlayStation 4 by Sony Corporation and Others.

 

Market Segmentation

The Video Games market is segmented based on:

  • Device
  • Type
  • Revenue Type
  • Age Group

Video Games Market - By Device:

the Video Games Market is divided into console, mobile and computer. Among these segments, the mobile device segment held the prominent share in terms of revenue and is predicted to remain at the forefront throughout the forecast period due to the factors such as increasing of smartphone penetration across the globe. Furthermore, increasing demand for tablets owing to some advantages such as larger displays and better viewing experience also helps the market to grow further. The console device segment is expected to increase the market value due to the availability of high end displays and sound systems that provides an improved as well as rich experience to the customers which were equipped with additional features such as recording and online sharing of in-game footage.

Video Games Market - By Revenue Type:

the Video Games Market is segmented into in-game purchase, game purchase and advertising. Among these segments, the advertising segment holds the major share of the market since most of the companies are gaining more profits through the advertising during the games.

Video Games Market - By Age Group:

the Video Games Market is divided into adult and children. The adult games segment holds the major share of the market and is expected to hold the dominance during the forecast period.

Video Games Market - By Type:

the Video Games Market is bifurcated into online video games and offline video games. The online video game segment holds the major share of the market and this segment is expected to hold the dominance during the forecast period owing to the factors such as increasing demand for multiplayer games since they facilitate in-game communication and also improves overall gaming experience. Furthermore, growing awareness towards interactive entertainment systems, growing penetration of smartphones and cloud gaming promotes the growth of the market. The offline video game segment has significantly reduced since most of the people are attracting towards online gaming experience which provides more real time experience and they will have an option to play with various players across the globe.

Regional Analysis

On the basis of region, the Video Games market is segmented into North America region, Asia Pacific region, Europe region, Latin America region and Middle East and Africa region.

Asia Pacific region hold the prominent share of the market due to the factors such as growing demand for entertainment in the region, emergence of gaming especially in some of the countries such as China, India and Japan propels the demand for the market. Furthermore, availability of major key players of the market in the region, increasing number of online gamers, and rise in online gaming tournaments in the region helps the video games market to grow further. The Asia Pacific region is expected to hold the dominance during the forecast period.

North America region is also expected to increase the market growth due to the rising of disposable income level, changing of consumer preference which led to the adoption of more advanced gaming consoles which were equipped with additional features such as record and share and cross platform gameplay, availability of different genres of games especially in some of the economies such as United States and Canada promotes the growth of the market.

Europe region is expected to increase the market value followed by Asia Pacific region and North America region due to increasing of investments by the major key players of the market for new technological advancements in the gaming.

Latin America and Middle east & Africa are likely to have significant growth rate in the coming years.

Key Players

Key market participants of Video Games market are Xbox One by Microsoft Corporation, and Wii U by Nintendo Co., Ltd., PlayStation 4 by Sony Corporation among others

Impact of COVID 19 on Video Games Market

The video games market has positively impacted unlike the other industries due to the COVID 19 pandemic. Most of the people are addicted to online games since the government authorities have imposed lockdown situations to eradicate the spread of the virus in most of the countries. The video games market is expected to double the revenue rates in the upcoming years to come.

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