Gaming Market Growth, Trends Forecasts (2022 - 2028)

According to Precision Business Insights (PBI), latest report the global gaming market size was valued at USD 212.8 billion in 2021 and is projected to grow at a 12.6% CAGR during the forecast period 2022 to 2028. The gaming industry is expanding as per capita income rises, interest rises, and the number of dual-income households rises, contributing to the worldwide market's development. With the increased use of smartphones and consoles, as well as cloud penetration, the sector has a bright future.

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The Mobile Gaming Segment is Dominating the Gaming Market
The popularity of multiplayer mobile games segment is one of the primary factors driving the growth of the mobile gaming business. Online games, such as MMO games, are continually being developed to break away from traditional gaming methods. For example, Niantic, a gaming business, introduced unique games such as Pokémon GO and MMO AR, which require users to physically locate and capture Pokémon species. Furthermore, smartphone manufacturers are releasing handsets with novel features, notably better screens. This has also allowed game market makers to release games dependent on the display size and other aspects of smartphones. This will contribute to the market's growth throughout the forecast period.

Europe Leads Gaming Market:
Europe is expected to hold significant market share in the global Gaming market and is projected to grow at a prominent growth rate over the forecast years owing to the region's thriving esports. According to a research by Ukie.Org. UK, esports income in the UK was USD 76.53 million in 2019. Furthermore, government investment is expected to stimulate demand. Another study issued in 2019 by the Germany Games Industry Association indicated that USD 55.99 million was invested in advertising computer games in the region.

Strategic New Product Launches, Mergers, Acquisitions and Agreements are the key strategies adopted by market players:
Global Gaming market further reveals that the key players increasingly adopting strategies such as launch of newer products, product launches, and long-term alliance to improve market revenue share and gaining significant geographic presence across the region. For instance, February 2022 - Focus Entertainment acquired Metal Slug Tactics and Rogue Lords developer Leikir Studio. This acquisition validates the multi-production strategy and makes the Leikir studio the 5th developing studio integrated into the Focus Entertainment company.

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The global gaming market is segmented based on console type, purchase type, and geography.
Based on the Console Type, the market is segmented into the following:
• Mobile Gaming, Social
• Casual Gaming, TV
• Gaming Console
• Computer Gaming
• Online Mmo Gaming
• Others

Based on the Purchase Type, the market is segmented into the following:
• In-App Purchase Based
• Shareware
• Box/CD Game Purchase
• Freeware
• Other

Based on Geography, the market is segmented into the following:
• North America
• Europe
• Asia Pacific
• Latin America
• MEA

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The global gaming market key players are Sony Corporation, Microsoft Corporation, Apple Inc., Google LLC (Alphabet Inc.), Bandai Namco Entertainment Inc., Take-Two Interactive Software Inc., Nexon Company, Nintendo Co. Ltd, Activision Blizzard Inc., Electronic Arts Inc., Ubisoft Entertainment SA, Square Enix Holdings Co. Ltd, ZeptoLab, Tencent Holdings Ltd, Sega Games Co. Ltd, Capcom Co. Ltd, NetEase Inc., Interactive Entertainment, Beijing Kunlun Technology Co. Ltd.

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