DUBLIN–(BUSINESS WIRE)–The “Global Gaming Market Size, Share, Growth Analysis, By Game Type, By Device Type – Industry Forecast 2023-2030” report has been added to ResearchAndMarkets.com’s offering.
The Gaming Market size was valued at USD 203.4 billion in 2021 and is poised to grow from USD 230.79 billion in 2022 to USD 492.5 billion by 2030, growing at a CAGR of 13.4% in the forecast period (2023-2030).
One of the main factors driving the expansion of the gaming business is the rising use of smartphones and high-performance personal computers in both developed and developing nations.
Since people all over the world are drawn to games as a major source of entertainment and a way to relieve stress, as well as a way to work as a team and achieve goals, the gaming business is one of the fastest-growing sectors of the global economy.
Growing educational games help children develop analytical and logical skills, and it enables the adult population to use their leisure time for self-entertainment. In addition, rising costs for home entertainment and games are another major factor driving the growth of the gaming market during the forecast period.
Segments covered in this report
The Global Gaming Market is segmented on the basis of Game Type, Device type, and Region. Based on Game Type, the market is segmented into Shooter, action, Sports, Role-playing, and others. Based on Device Type, the market is segmented into personal computers, MMO, tablets, Mobile phones, and TV Console. Based on region, the global Gaming market is segmented into North America, Europe, Asia-Pacific, South America, and MEA.
Driver
Nowadays, people play a variety of video games in their free time, which is a key factor in the gaming industry’s expansion. According to American research, 91% of male youngsters who were born after the year 2000 play mobile games compared to just 83% of those who were born before.
In addition, as the economy continues to grow, urbanisation and disposable income are driving up demand for other things that help people decompress, such games.
The expanding availability of better internet connectivity across the globe and the rising popularity of smartphones are further factors that are supporting the demand for games and, consequently, the expansion of the gaming industry.
Restraint
Small children’s social anxiety and addiction to competitive online shooter games are a serious hindrance for the gaming business as it impairs their academic performance and mental health, which is leading to severe problems in the family. This significant issue is preventing the gaming market from frothing during the analysis time.
Market Trends
The fundamental factor driving the expansion of the gaming market across all age groups is the rise in championships and tournaments for popular video game franchises. The sponsors typically aim to influence the audience’s interests through the professional athletes, which progressively sparks the customers’ attention and brings in money for the gaming firms. The audience’s interest in gaming was also stoked by this gaming environment, and this passion is what’s driving the expansion of the gaming industry.
Companies Mentioned
- Microsoft Corporation
- Electronic Arts
- Tencent Holdings Ltd.
- Sony Interactive Entertainment LLC
- Activision Blizzard, Inc.
- NetEase, Inc.
- Nintendo Co., Ltd.
- Google LLC
- Ubisoft Entertainment SA
- Nexon Co., Ltd.
- Take-Two Interactive Software, Inc.
- Konami Holdings Corporation
- Square Enix Holdings Co., Ltd.
- Zynga Inc.
- GungHo Online Entertainment, Inc.
- Supercell Oy
- Bandai Namco Entertainment Inc.
- Kakao Games Corp.
- NCSoft Corporation
- King Digital Entertainment Ltd.
For more information about this report visit https://www.researchandmarkets.com/r/kqhbk2
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