The global video game market is forecasted to reach US$319.46 billion in 2027, experiencing growth at a CAGR of 8.57% during the period spanning from 2023 to 2027. Growth in the video game market is supported by factors such as rising number of gamers, surge in gen Z population, inclining smartphone penetration, increasing disposable income and rising internet penetration. However, the market growth is expected to be restrained by piracy protection issues, cyber security issues and health issues.
The global video game market by device can be segmented as follows: mobile, console and personal computer (PC). In 2022, the dominant share of global video game was being held by mobile, followed by console. The global video game market by mode can be segmented as follows: offline and online. In 2022, the dominant share of global video game was being held by online, mode. Technological innovations in gaming is estimated to support the global video game market.
The global video game market by region can be segmented as follows: Asia Pacific, North America, Europe, Latin America and Middle East & Africa. The larger share of the market was being held by Asia Pacific. Factors such as cloud gaming, shift to new models of monetization and 5G internet connectivity are expected to boost the market growth.
The outbreak of coronavirus has boosted the demand for video games, owing to lockdowns and restrictions on the movement of people. However, several companies also had to confront delays and interruptions in their product launches in the wake of the outbreak of the pandemic.
Scope of the report:
• The report provides a report provides a comprehensive analysis of the global video game market with impact of COVID-19.
• The major regional markets (Asia Pacific, North America, Europe, Latin America and Middle East & Africa) have been analyzed.
• The market dynamics such as growth drivers, market trends and challenges are analyzed in-depth.
• The company profiles of leading players (Apple Inc., Microsoft Corporation, Tencent Holdings Ltd , Sony Group Corporation, Nintendo Co., Ltd. and Electronic Art Inc.) are also presented in detail.
Key Target Audience:
• Electronics Manufacturing Companies
• Video Game Developers
• Gaming Software Companies
• Consulting and Advisory Firms
• Investment Banks
• Government Bodies & Regulating Authorities