The Video Game Market is being driven by Rising penetration of smartphones and improving internet access
The Video Game Market is expected to grow at a CAGR of 8.6% during 2024 and 2029. During this period, the market is also expected to show a growth of USD 111.7 billion. The video game market has experienced a significant demographic shift, with an increasing number of females entering the gaming landscape. Traditionally, male gamers have held the majority of the market share. However, the emergence of mobile gaming and other accessible platforms has led to a surge in female participation. According to recent statistics, approximately 45% of gamers in the US are now female, a figure that is projected to grow. This demographic shift is expected to positively impact gaming revenue, as sales of merchandise, software, and hardware catering to this expanding female audience are poised to increase. Key industry properties, such as League of Legends, Grand Theft Auto, and World of Warcraft, have already reported an uptick in female gamers, indicating a promising trend for the future.
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The market is segmented based on
According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows:
However, the market also witnesses some limitations, which are as follows:
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Market Scope |
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Report Coverage |
Details |
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Page number |
202 |
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Base year |
2024 |
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Historic period |
2019-2023 |
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Forecast period |
2025-2029 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 8.6% |
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Market growth 2025-2029 |
USD 111.7 billion |
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Market structure |
fragmentation |
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YoY growth 2024-2025(%) |
8.1 |
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Key countries |
US, Canada, Germany, UK, Italy, France, China, India, Japan, Brazil, Egypt, UAE, Oman, Argentina, KSA, UAE, Brazil, Rest of World (ROW), US, China, South Korea, Canada, Germany, India, UK, Japan, France, and Brazil |
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Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
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In the evolving world of entertainment, video games have taken center stage, with online gaming and 3D graphics leading the charge. Technologically advanced smartphones, 5G networks, and cloud gaming services enable real-time strategy games to reach video gamers anytime, anywhere. Game developers leverage hyper-scale cloud capabilities to create immersive experiences, while streaming media services offer educational purposes through computer games. Input devices continue to advance, enhancing gameplay.
The 3D computer game industry, a significant segment of the global movies and entertainment market, is experiencing significant growth due to advancements in technology such as 5G networks, 3D graphics, artificial intelligence (AI), and augmented reality (AR). These innovations enable more immersive gaming experiences, aligning with changing consumer preferences for ease of accessibility and interactive media services. Commercial software companies are investing heavily in computer-generated effects, audio enhancements, and cloud gaming services to meet this demand. The global movies and entertainment market, encompassing media, entertainment, and interactive media and services, is projected to grow substantially as a result.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.
Technavio Research
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