Gaming Market to witness humongous growth of USD 102.13 Bn revenue through 2023-2027
The growing adoption of AR and VR games, the rising popularity of e-sports, and the increasing number of strategies partnerships, and acquisitions are all set to transform The Global Gaming Market is a billion-dollar industry revenue growth of USD 102.13 Bn. It is estimated the market will witness growth at a CAGR of 9.12% between 2023 and 2027.
Gaming market can be segmented by by 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)
Technavio has been monitoring the Global Gaming Market's growth trajectory of the market is traced through a detailed analysis of the prevalent market forces, trends, and drivers along with competitive benchmarking.
Snapshot of Gaming Market at a Glance
Navigating through the business drivers of the Gaming Market: It is observed that the growing adoption of AR and VR games drives the growth of this sector, AR/VR gaming is the integration of gaming visual and audio content with a user environment in real-time, therefore game developers prefer AR and VR devices to traditional gaming devices. Moreover, affordability and wide availability of mobile AR games are propelling the growth of the global gaming market. As per data, In January 2022, Microsoft HoloLens 2 was launched in India, It includes sensors that enable head and eye tracking and is designed to allow users to interact with holograms
Market Trends: When it comes to market trends increasing emergence of cloud gaming is a thing to look for which can be accessed through Internet-connected devices for free or through paid subscriptions
Core Companies of the Gaming Market: Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their market presence.
Organizations like Microsoft Corp. offer various games such as Asphalt 9, Hill climbing racing games, Minecraft, and Roblox games.
Some of the prominent names are 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., etc. Track down a detailed analysis of the prevalent market forces, trends, and drivers which are likely to impact the market in focus along with qualitative and quantitative analyses of companies with a wider understanding of the business ecosystem. Download the report today for all the insights from the Gaming Market
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