USD 219.51 Billion
Report ID: SQSG25J2002 | Region: Global | Published Date: October, 2022 | Pages: 165
Global Gaming Market was valued at USD 219.51 Billion in 2021, and it is expected to reach a value of USD 534.93 Billion by 2028, at a CAGR of 13.7% over the forecast period (2022-2028).
The increasing use of smartphones and the growing use of high-performance personal computers in developing and developed countries is a major reason for the growth of the gaming industry. The gaming industry is the fastest growing industry in the world as people globally are inclined towards games because it helps relieve stress and is a major source of entertainment, games provide a sense of achievement and team players which provide self-satisfaction and joy. It allows the adult population to use their leisure time to entertain themselves and growing educational games help kids to develop analytical and logical skills, also growing expenses in home entertainment and games are the major reasons for the growth of the gaming market during the forecast period.
Global Market Size
USD 219.51 Billion
In-App Purchase Based
In-App Purchase Based
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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.
Analysis by Game Type
The market is divided into shooting games, action games, sports games, role-playing games, and other genres. The shooter gaming segment is expected to hold the largest market share of around 25% of the total market revenue in the year 2021. This is because of the addictive competitive experience and sense of achievement it provides to the player during the gaming session and also the authentic shooting experience makes it exciting and people feel like they are in the simulated environment while playing these games.
The action, sports, and role-play games segment are witnessing consistent growth and enjoying a decent market share during the analysis period. These all-different genres provide a wonderful experience to the players which consists of sportsmen, women, kids and other elderly people. The acceptance of games among different age groups makes it a wonderful market and is expected to grow tremendously during the analysis period.
Analysis by Device Type
In the year 2021, Mobile phones are the dominating sector in the gaming market due to large smartphone users and penetration of the internet to various areas of the world. Big game developer companies are now shifting their interest in game development for mobile phone platforms due to this huge market potential and large customer base. Personal computers, MMO, tablets, and tv consoles are also witnessing steady growth as different devices provide different gaming experiences to the player, and this is what drives the device segment for the gaming market during the analysis period.
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In the year 2021, Asia Pacific accounts for 47% of the worldwide gaming market and is expected to occupy the same place during the analysis period. Gaming consoles and mobile phones are some of the major reasons for the domination of the gaming market in the region. Also, the growing urbanization and disposable income in the developing countries is pushing the demand for mobile games and which in turn is propelling the gaming market growth in this region.
Europe and North America are expected to grow substantially during the analysis period. The growing esports culture and growing popularity of video games between adults and kids in the region is the major reason for the growth in the gaming market. Growing investment and various companies endorsing the players at a professional level are creating enthusiasm in the people for games and this will contribute significantly to the gaming market growth during the analysis period.
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The Global Gaming market is relatively fragmented, with a high level of competition. Few large players, like Electronic Arts Inc., Nintendo Co. Ltd, and Valve Corporation, now control the market in terms of market share. These industry leaders are extending their customer base across several areas, and many corporations are creating strategic and collaborative initiatives with other start-up enterprises to enhance their market share and profitability.
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SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected by means of Primary Exploratory Research backed by the robust Secondary Desk research.
According to our analysis, Europe and North America are expected to grow substantially during this period and the Asia Pacific accounts for 47.8% of the global gaming industry and is expected to hold the same place during the year 2021. The shooting gaming segment is expected to hold the largest market share of around 25% of the total market revenue in the year 2021 and Mobile phones were the dominating device type in the gaming market due to large smartphone users and penetration of the internet to various areas of the world.
|Market size value in 2021||USD 219.51 Billion|
|Market size value in 2028||USD 534.93 Billion|
|Forecast Unit (Value)||USD Billion|
|Regions covered||North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)|
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Parent Market Analysis
KEY MARKET INSIGHTS
MARKET DYNAMICS & OUTLOOK
Market Size by Region
KEY COMPANY PROFILES
For the Global Gaming Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Gaming Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Global Gaming Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Global Gaming Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
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Product ID: SQSG25J2002