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Gaming Market Trends That Will Shape the Next Decade: Insights from EA Sports F1 22 Takes The Checkered Flag As The Ultimate Formula One Gaming Experience
Gaming Market
How Large Will the Gaming Market Size By 2025?
The substantial growth of the gaming industry in recent years is undeniable. The market size is anticipated to swell from $310.97 billion in 2024 to $345.34 billion in 2025, showing a compound annual growth rate (CAGR) of 11.1%. The historical growth surge is largely due to factors such as the broadening of gaming platforms, the emergence of esports and gaming communities, the explosion of mobile gaming, and the proliferation of gaming conventions and events.
How Big Is the Gaming Market Size Expected to Grow by 2029?
Anticipated to witness fast-paced expansion in the ensuing years, the gaming market size is projected to surge to $562.87 billion by 2029, with a compound annual growth rate (CAGR) of 13.0%. The predicted elevation during the forecast timeframe is attributed to factors such as advancements in game design, the inclusion of casual players, sustainable and environmentally friendly initiatives, social influence, and diversity in the gaming sector, along with government backing and acknowledgment. The forecast span is also expected to observe major trends like the emergence of cloud gaming, gaming services based on subscription, experiences related to augmented reality (AR) and virtual reality (VR), user-created content and game modification, the predominance of mobile gaming, and innovative next-gen consoles and hardware.
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Which Key Market Drivers Powering Gaming Market Expansion and Growth?
The surge in the usage of mobile phones is predicted to fuel the expansion of the gaming market in the future. A mobile phone is a handheld electronic device that comes with a connection to a cellular network. These devices aid in the augmentation of the gaming market by offering performance boosters, superior screens, and high-end features. For example, a UK-based firm, Cybercrew, which develops and supplies cybersecurity solutions for businesses of varied scales, published a report in March 2023 that stated that the proportion of UK households with smartphones had reached 91.43% in 2021. This percentage is expected to rise to 93.8% by 2026. Consequently, the escalating prevalence of mobile phones is contributing to the growth of the gaming market.
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Which Fast-Growing Trends Are Poised to Disrupt the Gaming Market?
Leading firms in the gaming industry are concentrating on the production of cutting-edge games like EA Sports F1 22, aiming to leverage the enthusiasm surrounding Formula One. The official game of the Formula One World Championship is EA Sports F1 22, which is accessible on platforms like Microsoft Windows, PlayStation 4, PlayStation 5, Xbox One, and Xbox Series X/S. For example, Codemasters and Electronic Arts Inc., video game companies based in the US, introduced EA Sports F1 22, the authentic game for the 2022 Formula One World Championship in June 2022. This game comprises all the official teams, drivers, and circuits from the 2022 season, alongside a revamped career mode, diverse multiplayer modes, and a novel feature named F1 Life.
What Are the Emerging Segments in the Gaming Market?
The gaming market covered in this report is segmented -
1) By Game Type: Action, Shooter, Role-Playing, Sports, Other Game Types
2) By Device: Console, Mobile, Computer
3) By Purchase Type: Box Or CD Game Purchase, In-App Purchase Based, Shareware, Freeware, Other Purchase Types
4) By Platform: Online, Offline
Subsegments:
1) By Action: Platformers, Fighting Games, Adventure Games
2) By Shooter: First-Person Shooters, Third-Person Shooters, Battle Royale Games
3) By Role-Playing: Traditional RPGs, Action RPGs, Massively Multiplayer Online RPGs
4) By Sports: Simulation Sports, Arcade Sports, Racing Games
5) By Other Game Types: Puzzle Games, Strategy Games, Simulation Games, Casual Games
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Who Are the Global Leaders in the Gaming Market?
Major companies operating in the gaming market are Microsoft Corporation, Nintendo Co. Ltd., Rovio Entertainment Corporation, Nvidia Corporation, Electronic Arts Inc., Sony Corporation, Apple Inc., Google LLC, Bandai Namco Entertainment Inc., Take-Two Interactive Software Inc., Nexon Company, Activision Blizzard Inc., Ubisoft Entertainment SA, Square Enix Holdings Co. Ltd., ZeptoLab OOO, Tencent Holdings Ltd., Sega Games Co. Ltd., Capcom Co. Ltd., NetEase Inc., Interactive Entertainment Beijing Kunlun Technology Co. Ltd., Konami Holdings Corporation, Zynga Inc., GungHo Online Entertainment Inc., NCSoft Corporation, Kakao Games Corp., Smilegate Holdings Inc., Gravity Co. Ltd., Pearl Abyss Corp., Com2uS Corp., LINE Corporation, Wargaming Group Limited
Which are the Top Profitable Regional Markets for the Gaming Industry?
Asia-Pacific was the largest region in the gaming market in 2024. The regions covered in the gaming market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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