According to a comprehensive research report by Market Research Future (MRFR), “Global Gaming Market information by Device Type, by Game Type, Gamer Type and Region – forecast to 2030”. The global gaming industry is projected to garner fabulous traction by 2027, expanding at 13.19% CAGR during the assessment period (2021-2030). In 2020, the market valuation was settled at USD 546.99 billion.
Key Players Active in The Gaming Market Are:
- Sony Corporation (Japan)
- Microsoft Corporation (US)
- Bandai Namco Entertainment Inc. (Japan)
- Take-Tow Interactive Software Inc. (US)
- Nexon Company (Japan)
- Activision Blizzard Inc. (US)
- Nintendo Co. Ltd. (Japan)
- Ubisoft Entertainment SA (France)
- Square Enix Holdings Co. Ltd. (Japan)
- Tencent Holdings Ltd. (China)
- EPIC Games (US)
- Interactive Entertainment (US)
- Electronic Arts (US)
- NetEase Inc. (China)
- Sega Games Co. Ltd. (Japan)
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Metaverse would Drive Investments and VR Sales
The increasing uptake of different gaming platforms by various organizations for recreational / entertainment purposes would foster the market share. Additionally, extensive usages of racing games in healthcare sectors to help patients indulge and encourage social interaction are anticipated to define the growing landscape of the market.
The gaming market is predominantly driven by the advent of 5G technology and the rising popularity of competitive games and numbers of gamers. Besides, extensive online games in the education and media entertainment sectors have allowed the market to perceive high growth in recent years. The rising uptake of gaming in commercial and personal uses impacts the gaming market shares.
Gaming Industry Trends
The gaming industry is emerging as the new social media, becoming more immersive, engaging, and viable networking and community building. With artistically curated virtual interaction, potential to capture youngsters’ imagination attention, the gaming industry grew to new frontiers.
Social media platforms are breaking patterns and rambling to offer farraginous features that can boost monetization and live streaming, broadening avenues for social interactions to a level unimaginable. The gaming industry once merely served as a niche market now brings together gaming and socializing, giving grounds to the rise of the next new social media.
Gaming companies are working on transcending the gaming environment with its highly social environments, encouraging collaboration, and conversation real-life connections. Text and voice chat features take center stage in the gaming experience, allowing gamers to connect with gaming communities worldwide. Plat-to-earn will become a more viable business model. Publishers might use blockchain tech to facilitate secure and legitimized player-to-player trading in a centralized game environment.
Some of the gaming trends to watch in 2022 are; Metaverse proliferation would drive investments and VR sales. Apple and Google would start opening their closed ecosystems. Game IP value would spike as transmedia becomes more relevant. Publishers would be putting more emphasis on building new game-related IP and crossing game IP into other media in 2022 and beyond. And gamers will have more choices.
Gaming Market Segmentation
Based on Device Type
- PC
- Browser PC Games
- Downloaded PC Games
- Console
- Xbox
- Play Station
- Nintendo Switch
- Others
- Mobile
- Tablet Smartphone
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Based on Game Type
- Real-time strategy (RTS)
- Role-playing (RPG)
- Multiplayer online battle arena (MOBA)
- Sandbox
- Shooter (FPS and TPS)
- Simulation and Sports
- Others
Based on Gamer Type
- Casual Gamer
- Professional Gamer
Based on Region
- North America
- Europe
- Asia-Pacific
- South America
- Middle East Africa
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