Digital Gaming Market is Booming Worldwide | Electronic Arts, Ubisoft, Zynga, Tencent
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The global digital gaming market is projected to expand at a CAGR of 15.7% and is expected to be worth $264.9 billion by 2023. The increased proliferation of smartphones and tablets is providing considerable push to the gaming market globally. Also, the improvement in technology and the ease of access to internet connectivity have given an impetus to live games of MMO and eSports genres. The gaming companies are increasingly preferring digital distribution channels over physical distribution channels, as digital distribution allows easy purchase and downloading of digital content for different gaming platforms.
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The various platforms used for gaming are PC, mobile, and console. The mobile platform is expected to grow at the highest CAGR of 23.1% during the 2018-2023 period, leading to a global revenue generation of $165.3 billion by 2023. The growth in mobile gaming can be attributed to the ease in use of mobile phones and the affordability of the feature-rich smartphones coupled with a reasonably good internet connection in most of the regions across the globe. Over the years, the gamers realized the convenience that mobile gaming offers over the console and PC games, leading to its wide adoption. While mobile gaming is gaining popularity, PC gaming is expected to decline in the years to come and will have an estimated market share of only 11.0% by 2023.
The digital gaming market in North America is expected to grow at a CAGR of 14.6% during the 2018-2023 period. Events such as eSports in the US is backed by astounding internet connectivity in the region. Asia-Pacific is the leading contributor to the global digital gaming market. It is expected to contribute $137.8 billion by 2023. Additionally, the Asia-Pacific region will witness the highest CAGR of 17.5% during the forecast period of 2018-2023. The key countries contributing to APAC’s humongous revenue are China, South Korea, Japan, and India. The revenue contribution by Latin America is expected to be $6.9 billion by 2023. Both Sony and Microsoft have programs for their console markets in Latin America that are open to independent developers and small studios, which in turn is strengthening the console gaming in the region. The EMEA region is expected to capture a market share of 22.0% by 2023. The VR gaming segment is one of the most competitive spaces of gaming in Europe.
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Key Answers Captured in Study are
Which geography would have better demand for product/services?
What strategies of big players help them acquire share in regional market?
Countries that may see the steep rise in CAGR & year-on-year (Y-O-Y) growth?
How feasible is market for long term investment?
What opportunity the country would offer for existing and new players in the Digital Gaming market?
Risk side analysis involved with suppliers in specific geography?
What influencing factors driving the demand of Digital Gaming near future?
What is the impact analysis of various factors in the Global Digital Gaming market growth?
What are the recent trends in the regional market and how successful they are?
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Some extract from Table of Contents
• Overview of Global Digital Gaming Market
• Digital Gaming Size (Sales Volume) Comparison by Type (2019-2025)
• Digital Gaming Size (Consumption) and Market Share Comparison by Application (2019-2025)
• Digital Gaming Size (Value) Comparison by Region (2019-2025)
• Digital Gaming Sales, Revenue and Growth Rate (2019-2025)
• Digital Gaming Competitive Situation and Trends
• Players/Suppliers High Performance Pigments Manufacturing Base Distribution, Sales Area, Product Type
• Analyze competitors, including all important parameters of Digital Gaming
• Global Digital Gaming Manufacturing Cost Analysis
• Marketing Strategy Analysis, Research Conclusions
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