Press release
Economic Impact of COVID-19 on the Global Online Gaming Industry Market Size, Trends, Industry Report to 2025
The global online gaming industry has been witnessing potential growth coupled with the increasing spending on online gaming and the rising penetration of mobile devices, including smartphones and tablets. In UK, the combined physical and digital games sales generated revenue of nearly $4.9 billion in 2018, exhibit growth of 9.1% over 2017. The sales of digital games sales have reported considerable growth, with the rise of 9.1% to nearly $3.8 billion, while sales of the physical game have shown a decline by 2.1% to $980 million (according to the Association for UK Interactive Entertainment).Get Free Sample Copy @ https://www.omrglobal.com/request-sample/economic-impact-of-covid-19-on-the-global-online-gaming-industry
The spending on games by UK consumers was valued nearly $7.3 billion in 2018, up 10% from 2017. In 2016, FIFA 17 by Electronic Arts was the best-selling entertainment product in UK, with a sale of 2.5 million units, nearly 9% over Star Wars: The Force Awakens, generated a sale of 2.3 million units. Rising internet and smartphone penetration has led to the adoption of online gaming services in the country. 78% of UK adults own a smartphone, increased from 27% in 2011, as per the Office of Communications (Ofcom). This, in turn, is contributing to increasing adoption of mobile gaming in the country, as it allows smartphone owners to download games on their phones for playing games. Likewise, the inclination towards online gaming has further witnessed across several countries, including the US, Japan, Germany, China, India, and Australia.
A Full Report of Economic Impact of COVID-19 on the Global Online Gaming Industry is Available at: https://www.omrglobal.com/industry-reports/economic-impact-of-covid-19-on-the-global-online-gaming-industry
Currently, internet providers reported unprecedented gaming traffic amid COVID-19 outbreak. They have struggled to bolster their networks owing to the surging demand. On Verizon's network, gaming traffic has raised by 75% in one week, as per the Telco. COVID-19 epidemic has led to lockdown among several countries to limit the spread of the virus. This results in the increasing demand for gaming services among adults and children. They are showing interest in playing online battle games, such as Fortnite Battle Royale (Epic Games) and Call of Duty: Warzone (Activision Blizzard, Inc.).
The study on the impact of COVID-19 on the global online gaming industry is segmented into device type, which includes the console, computer, mobile devices, and others. The increasing trend towards mobile gaming owing to the increasing smartphone penetration and availability of mobile gaming apps is encouraging individuals to use mobile devices (smartphones and tablets) to play online games. Today, iTunes store and Google Play Store has a comprehensive range of exciting mobile gaming apps. In addition, the companies are significantly focusing on the production of quality mobile games, such as Google LLC, Tencent, and NetEase. As mobile devices are largely owned by individuals, it is being significantly adopted by the consumers for gaming purpose.
Geographically, the global online gaming industry is classified into four major regions, including North America, Europe, Asia-Pacific, and Rest of the world. Asia-Pacific online gaming industry has potential impact amid COVID-19 pandemic. Rising demand for mobile gaming amid COVID-19 effect coupled with the presence of some crucial mobile gaming companies, including Tencent, Lingxi Games, NetEase, FunPlus, and Lilith have pushed industrial growth in the country. Due to the spread of coronavirus, people across China faced a challenge of staying indoors, which increased the need for entertainment platforms and thereby led the adoption of online gaming services in the country.
The major companies offering online gaming services include Activision Blizzard, Inc., Apple, Inc., Electronic Arts, Inc., Epic Games, Inc., NetEase, Inc., Valve Corp., and Tencent Holdings Ltd. Some of these companies have reported an increase in the number of service users due to lockdown effect. For instance, Steam (Valve Corp.), a digital content platform that offers several games to millions of users across the globe, has shown an all-time rise in the number of users.
Segmentation
By Device Type
Console
Computer
Mobile Devices
Others
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