Press release
Video Game Market to Witness Healthy CAGR of 8.7% by 2032, Size, Share, Trends, Opportunities, Key Growth Drivers and Future Outlook
Video Game Market
The Global Video Game Market was valued at USD 216.87 billion in 2022 and is estimated to reach approximately USD 460.54 billion by 2031, at a CAGR of 8.7% from 2023 to 2031.
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Market Definition
Since its inception in the middle of the 20th century, the video game market has seen a spectacular shift. Initially seen as a specialized hobby, gaming has grown into a massive international industry that includes a wide range of gaming genres, platforms, and technology.
𝐓𝐡𝐞 Video Game 𝐌𝐚𝐫𝐤𝐞𝐭 𝐢𝐬 𝐃𝐨𝐦𝐢𝐧𝐚𝐭𝐞𝐝 𝐛𝐲 𝐅𝐢𝐫𝐦𝐬 𝐒𝐮𝐜𝐡 𝐚𝐬
Activision Blizzard; Apple Inc.; Disney; Electronic Arts Inc.; Lucid Games; Microsoft; Nintendo; Rovio Entertainment Corp.; Sony Interactive Entertainment Inc.; Tencent Holdings Ltd.,
The study objectives of this report are:
• To study and forecast the market size of Strategy Consulting in global Video Game market.
• To analyze the global key players, SWOT analysis, value and global market share for top players.
• To define, describe and forecast the market by type, end use and region.
• To analyze and compare the market status and forecast between China and major regions, namely, United States, Europe, China, Japan, Southeast Asia, India and Rest of World.
• To analyze the global key regions market potential and advantage, opportunity and challenge, restraints and risks.
• To identify significant trends and factors driving or inhibiting the market growth.
• To analyze the opportunities in the market for stakeholders by identifying the high growth segments.
• To strategically analyze each submarket with respect to individual growth trend and their contribution to the market
• To analyze competitive developments such as expansions, agreements, new product launches, and acquisitions in the market
• To strategically profile the key players and comprehensively analyze their growth strategies.
Key Market Segments Covered in Video Game Industry Research
By Device
· Smartphones
· PC
· Consoles
By Age Group
· Generation Z
· Generation Y
· Generation X
By Platform Type
· Offline
· Online
By Geography
· North America (USA, and Canada)
· Europe (UK, Germany, France, Italy, Spain, Russia and Rest of Europe)
· Asia Pacific (Japan, China, India, Australia, Southeast Asia and Rest of Asia Pacific)
· Latin America (Brazil, Mexico, and Rest of Latin America)
· Middle East & Africa (South Africa, GCC, and Rest of Middle East & Africa)
Video Game Market Competitive Landscape
In the global video game market, a few major players exert significant market dominance and have established a strong regional presence. These leading companies remain committed to continuous research and development endeavors and actively engage in strategic growth initiatives, including product development, launches, joint ventures, and partnerships. By pursuing these strategies, these companies aim to strengthen their market position, expand their customer base, and capture a substantial share of the market.
Video Game Market Recent Developments
In October 2023, Activision Blizzard was acquired by Microsoft for $69 billion, forming a dominant video game company. With the acquisition, Microsoft, which owns Activision, the Xbox gaming platform, and Xbox gaming Studios (home to, among other game publishers and developers, Bethesda Softworks and 343 Industries), join forces.
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