Video Games Market Top Leading Players with Strategies and Forecast 2030 Players Activision Blizzard, Electronic Arts Inc., Epic Games

As per the report published by The Brainy Insights, the global video games market is expected to grow from USD 200 billion in 2022 to USD 473.47 billion by 2032, at a CAGR of 9% during the forecast period 2023-2032. Asia Pacific emerged as the most prominent global video games market, with a 43% market revenue share in 2022. The sizable population of India and China offer a vast player base for the region. Given the innovation and advancements spearheaded by the Chinese and Japanese Mobile companies, the population has access to affordable and advanced gaming phones. The significant number of game developers in the market and major market players headquartered in China is a positive market development for the region. The introduction and expansion of the professional gaming industry have created a lucrative market for video game development. The rising number of professional players and streamers augments the regional market's growth and development.

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Global Video Games Market Size by Device Type (Console, Computer and Mobile), Platform Type (Online and Offline), Regions, Global Industry Analysis, Share, Growth, Trends, and Forecast 2023 to 2032

Leading companies in the industry include Activision Blizzard, Electronic Arts Inc., Epic Games, Lucid Games, Microsoft, Nintendo, Sony Interactive Entertainment Inc., Google LLC, Tencent Holdings Limited, and Ubisoft, among others, are offering more significant opportunities and are continuously focused on new product developments and venture capital investments to obtain market share.

The device type segment is divided into console, computer and mobile. The mobile segment dominated the market, with a market share of around 52% in 2022. Mobile are the most affordable means of playing video games, unlike a console or a computer. The ever-expanding smartphone market, with technological advancements and product innovations, offers consumers a wide variety of affordable and accessible choices of products, which drives the segment's growth. The lowering of retail prices of smart, along with the increasing disposable income of consumers, is augmenting the rising smartphone ownership. The increasing internet penetration and the development of high-end smartphones that support gaming will bode well for the market. The platform type segment is divided into online and offline. The offline segment dominated the market, with a market share of around 54% in 2022. Offline video games do not require an internet connection to be played. Offline games allow users a seamless gaming experience without the internet or poor internet connection. They can be played anywhere. Their user interface is better given the non-requirement of an internet connection. The lack of universal internet coverage and poor internet penetration in several economies make offline games more popular. Furthermore, the gaming experience remains the same, which augments the segment's growth. Offline games save money on data and the device's battery on which they are played.

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According to several international data organizations, the worldwide gaming industry is expected to reach 3 billion users by the end of 2023. It supports more than a million jobs in the United States alone. It contributes approximately 5 billion to the US economy. Similar numbers are seen worldwide in countries like China, India, Europe as a collective, and Brazil, among others. The covid-19 pandemic has contributed positively to the expansion of the gaming industry. The development of new games has also skyrocketed in recent years. Nearly 2000 video development schools are driving innovations and advancements in the industry. Therefore, the collective benefits of the gaming industry for the economy will drive investments, innovations and development in the forecast period.

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