NEW YORK, Feb. 19, 2024 /PRNewswire/ — The Gaming Market is estimated to grow by USD 102.13 billion accelerating at a CAGR of 9.12% between 2022-2027. Get a sample copy of the Gaming Market report at no cost.
Technavio has announced its latest market research report titled Global Gaming Market 2023-2027
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Report Coverage |
Details |
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Page number |
182 |
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Base year |
2022 |
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Historic period |
2017-2021 |
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Forecast period |
2023-2027 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 9.12% |
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Market growth 2023-2027 |
USD 102.13 billion |
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Market structure |
Fragmented |
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YoY growth 2022-2023(%) |
8.51 |
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Regional analysis |
APAC, North America, Europe, Middle East and Africa, and South America |
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Performing market contribution |
APAC at 53% |
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Key countries |
US, China, Japan, South Korea, and Germany |
The report encompasses industry forecasts for the Gaming Market, with segmentation based on type (casual gaming and professional gaming), platform (online and offline), device (mobile gaming, console gaming, and PC gaming), and geography (APAC, North America, Europe, Middle East and Africa, and South America). Additionally, Technavio provides valuable insights through parent market analysis, company analysis, forecast values, and market opportunities. The report also thoroughly analyzes historical market data from 2017 to 2022.
Key companies included in this report:
Activision Blizzard Inc., Apple Inc., Bandai Namco Holdings Inc., Bowlmor AMF, Chicago Gaming Co., DeNA Co. Ltd., Electronic Arts Inc., Epic Games Inc., GungHo Online Entertainment Inc., NetEase Inc., Netmarble Corp., Niantic Inc., Nintendo Co. Ltd., Rovio Entertainment Corp., Sony Group Corp., Square Enix Holdings Co. Ltd., The Walt Disney Co. and Ubisoft Entertainment, Zeptolab UK Ltd. Download Sample before buying
The industry is driven by the widespread acceptance of AR and VR games, marking a significant driver in its share. Embracing technologies like Virtual Reality, the industry spans various segments, including video games, esports, mobile games, PC gaming, online gaming, and more. This growth aligns with the dynamic landscape of game development, involving diverse game publishers, gaming software, and gaming hardware innovations, catering to both multiplayer gaming and single-player gaming experiences. Console manufacturers contribute to the evolving gaming industry, reflecting a multifaceted ecosystem of interactive entertainment.
A prevalent trend is the rising prominence of cloud gaming. For complete insights on market size, market analysis, market trends, and opportunities, buy the full report
The Global Gaming Market undergoes significant transformations due to changing demographics of gamers, advancements in technology, and the growing demand for high-speed Internet access. While costly installations and updates of hardware and software persist as challenges, game developers strive to enhance user experience. Valve Corporation, a key player, contributes to the landscape. Particularly in developing countries, mobile gaming on smartphones and tablets gains traction alongside traditional consoles. These shifts reflect the evolving preferences and behaviors of gamers worldwide. As the game creation process evolves to meet these demands, the industry continues to innovate and adapt to emerging trends, shaping the future of entertainment.
The industry experiences rapid growth fueled by technological advancements, including improved graphics and innovations like virtual reality (VR) and augmented reality (AR). Companies focus on innovation in game design, introducing new genres to captivate audiences. With the widespread use of mobile devices, esports gain popularity, attracting tech-savvy consumers. Streaming platforms like Twitch serve as hubs for gamers to showcase their skills and engage with audiences worldwide. These platforms facilitate the rise of esports as a mainstream entertainment option. As technology continues to evolve, the industry adapts, offering immersive experiences and diverse content to meet the demands of an ever-expanding audience.
Related Reports:
The Global Gaming Simulators Market size is estimated to grow at a CAGR of 17.58% between 2022 and 2027. The size is forecast to increase by USD 13,060.47 million.
The mobile gaming market size is estimated to grow at a CAGR of 9.96% between 2022 and 2027. The size is forecast to increase by USD 59.62 billion.
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SOURCE Technavio