LONDON–(BUSINESS WIRE)–#GamingMarket–The global gaming market size is poised to grow by USD 119.07 billion during 2020-2024, progressing at a CAGR of over 12% throughout the forecast period, according to the latest report by Technavio. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment. The report also provides the market impact and new opportunities created due to the COVID-19 pandemic. Download a Free Sample of REPORT with COVID-19 Crisis and Recovery Analysis.
The integration of blockchain technology in traditional gaming has enabled players to trade in-game virtual assets through contracts or other competing players. Also, blockchain platforms use powerful data encryption technologies such as private key and public key to ensure secure crypto token transactions. This enables game service providers or game developers to monetize their gaming services properly. Such benefits are encouraging gaming companies to integrate blockchain technology into their products. For instance, in December 2018, Sony announced its plans to launch a blockchain-based video game for PlayStation 4 by the end of 2019. Similarly, in July 2018, Microsoft announced its plans to roll out blockchain technology for Xbox. These factors are expected to positively influence the growth of the global gaming market during the forecast period.
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Report Highlights:
- The major gaming market growth will come from the casual gaming segment in 2019. This is due to the rising adoption of mobile gaming.
- APAC was the largest market for gaming in 2019, and the region will offer several growth opportunities to market vendors during the forecast period. This is attributed to the increasing penetration of e-sports in developing countries, such as Taiwan, Malaysia, and Singapore.
- The global gaming market is fragmented. 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. are some of the major market participants. To help clients improve their market position, this gaming market forecast report provides a detailed analysis of the market leaders.
- As the business impact of COVID-19 spreads, the gaming market 2020-2024 is expected to have positive. As the pandemic spreads in some regions and plateaus in other regions, we revaluate the impact on businesses and update our report forecasts.
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Growing adoption of AR and VR games will be a Key Market Trend
The growing consumer inclination toward AR and VR devices has encouraged many vendors in the market to develop gaming platforms with cutting-edge 3D technologies. For instance, Niantic Inc.’s Pokemon GO is an AR game that uses the mobile device GPS to locate, capture, battle, called Pokémon which appears in the player’s real-world location. Similarly, Thought Shastra Solutions developed the Temple Treasure Hunt Game, which uses the built-in camera of smartphones to enhance the real-world scenario, giving the user an incredible gaming experience. The introduction of such games is increasing the adoption of AR/VR games among consumers, which is fueling the global gaming market growth.
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Gaming Market 2020-2024: Key Highlights
- CAGR of the market during the forecast period 2020-2024
- Detailed information on factors that will assist gaming market growth during the next five years
- Estimation of the gaming market size and its contribution to the parent market
- Predictions on upcoming trends and changes in consumer behavior
- The growth of the gaming market
- Analysis of the market’s competitive landscape and detailed information on vendors
- Comprehensive details of factors that will challenge the growth of gaming market vendors
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Executive Summary
Market Landscape
- Market ecosystem
- Value chain analysis
Market Sizing
- Market definition
- Market segment analysis
- Market size 2019
- Market outlook: Forecast for 2019 – 2024
Five Forces Analysis
- Five forces summary
- Bargaining power of buyers
- Bargaining power of suppliers
- Threat of new entrants
- Threat of substitutes
- Threat of rivalry
- Market condition
Market Segmentation by Type
- Market segments
- Comparison by Type
- Casual gaming – Market size and forecast 2019-2024
- Professional gaming – Market size and forecast 2019-2024
- Market opportunity by Type
Market Segmentation by Device
- Market segments
- Comparison by Device
- Mobile gaming – Market size and forecast 2019-2024
- Console gaming – Market size and forecast 2019-2024
- PC gaming – Market size and forecast 2019-2024
- Market opportunity by Device
Market Segmentation by Platform
- Market segments
- Comparison by Platform
- Online – Market size and forecast 2019-2024
- Offline – Market size and forecast 2019-2024
- Market opportunity by Platform
Customer Landscape
Geographic Landscape
- Geographic segmentation
- Geographic comparison
- APAC – Market size and forecast 2019-2024
- North America – Market size and forecast 2019-2024
- Europe – Market size and forecast 2019-2024
- MEA – Market size and forecast 2019-2024
- South America – Market size and forecast 2019-2024
- Key leading countries
- Market opportunity by geography
- Market drivers
- Market challenges
- Market trends
Vendor Landscape
- Vendor landscape
- Landscape disruption
- Competitive scenario
Vendor Analysis
- Vendors covered
- Market positioning of vendors
- 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.
- The Walt Disney Co.
Appendix
- Scope of the report
- Currency conversion rates for US$
- Research methodology
- List of abbreviations
About Us
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
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