Global Video Game Market Size By Device Type (Console ,Mobile, Computer), By Platform (Online, Offline), By Age Group (Age group 10-20 ,Age group 21-35), By Geographic Scope And Forecast

Video Game Market Size And Forecast

Video Game Market size was valued at USD 231.2 Billion in 2022 and is projected to reach USD 530.6 Billion by 2030, growing at a CAGR of 12.60% from 2023 to 2030.

The worldwide Video Game Market is anticipated to develop as a result of factors like the shifting consumer preference from physical games to online games, the increasing use of internet services in conjunction with the simple availability and accessibility of online games, as well as technical innovation and proliferation. The Global Video Game Market research offers a comprehensive analysis of the industry. The research provides a thorough analysis of the market’s major segments, trends, drivers, constraints, competitive environment, and other important elements.

Global Video Game Market Definition

An electronic gaming environment known as a computer game requires players to engage with an interface in order to receive visual feedback on a two- or three-dimensional display screen device. The gadgets often consist of a touchscreen, a virtual reality headset, or a monitor or TV. There are two ways to play these video gamesonline or off.

Game controllers, including gamepads, joysticks, mouse devices, keyboards, and touchscreens on mobile devices, are frequently utilized as interface input. Different platforms, including PC, home console, online browsers, mobile, virtual reality, and many more, are used to play video games. Social networking platforms like Facebook and Reddit, educational institutions, businesses, the smartphone industry, the media, and the entertainment industries all find vast uses for video games.

Global Video Game Market Overview

The market outlook portion of the study primarily covers the market’s basic dynamics, including its drivers, constraints, opportunities, and challenges. Opportunities and challenges are external market aspects, whereas drivers and restraints are inner market forces.

The worldwide Video Game Market is anticipated to develop as a result of factors like the shifting consumer preference from physical games to online games, the increasing use of internet services in conjunction with the simple availability and accessibility of online games, as well as technical innovation and proliferation. Demand is most expected to be driven over the projected period by the trend of social media gaming and the rising popularity of esports competitions.

Additionally, it is projected that a rise in the number of professional gamers, strong demand across a variety of sectors, including corporate businesses and educational institutions, would fuel market expansion. However, worries about gaming transaction fraud, copyright, piracy, and health problems associated with video games are the main roadblocks impeding the sector as a whole. While the development of video game technology, the rise in the number of young people, and shifting consumer tastes present promising growth prospects.

In order to authenticate the data and apply it in the creation of a comprehensive market research study, Market Research distils the information already accessible utilising primary sources. The report includes a quantitative and qualitative assessment of market factors the customer is interested in. The “Global Video Game Market” is primarily divided into sub-segments that may offer categorised information on the most recent market developments.

Global Video Game MarketSegmentation Analysis

The Global Video Game Market is Segmented on the Basis of Device Type, Platform, Age Group, And Geography.

Video Game Market, By Device Type

• Console
• Mobile
• Computer
• Others

Based on Device Type, the market is segmented into Console, Mobile, Computer and Others. In 2022, the market was dominated by the mobile sector. Over the course of the forecast, the mobile category is anticipated to maintain its market dominance. The Global increase in smartphone adoption is responsible for the mobile market’s expansion. The rising desire for mobile tablets with larger displays, which provide better gaming experiences, is another factor contributing to the expansion of the mobile market. Over the course of the projected period, the segment’s growth is anticipated to be significantly influenced by the increasing sales of portable gaming consoles.

Over the course of the forecast period, the console market is anticipated to expand at a significant clip. The console market is expected to increase as a result of lucrative features like premium screens and sound systems intended to provide players an enhanced and improved experience. Innovative features on consoles also enable gamers to record in-game footage and post it online. Another profitable element used in next-generation gaming consoles to provide players an immersive experience is dynamic simulation.

Video Game Market, By Platform

• Online
• Offline
• Other

Based on Platform, the market is segmented into Online, Offline, and Others. In 2022, the offline sector dominated the market. However, during the course of the projected period, the online category is anticipated to increase at the greatest CAGR. The increasing acceptance of multiplayer video games is responsible for the segment’s expansion. Additionally, online games enable in-game communication and help to improve the entire gaming experience, which is encouraging for the sector’s expansion. Particularly effective in providing a virtual platform for online video games are social networking sites.

Video Game Market, By Age Group

• Age group 10-20
• Age group 21-35
• Age group 36-50
• Age group 51-60

Based on Age Group, the market is segmented into Age group 10-20, Age group 21-35, Age group 36-50 and Age group 51-60. A sizeable and extremely active sector within the gaming business is the Video Game Market for consumers between the ages of 10 and 20. Pre-teens, teenagers, and young adults are just a few of the gamers that fall under this age range, all of whom have different gaming interests and routines. The age range of 10 to 20 makes up a considerable share of the entire gaming market. Many of the young players in this age group are keen players who actively play and consume video games. Their opinions and decisions greatly influence the direction the sector is going in.

A sizeable share of the Global gaming market belongs to those aged 21 to 35, many of whom have been longtime gamers. Their tastes and needs dictate game development and marketing methods, which has a big impact on the direction the industry is going in. Additionally, this age group plays video games on a variety of platforms, including as PCs, mobile devices (such as smartphones and tablets), and consoles (such as the PlayStation, Xbox, and Nintendo Switch). The preferred platform may vary depending on convenience, the availability of games, and personal tastes.

Video Game Market, By Geography

• North America
• Europe
• Asia Pacific
• Rest of the world

On the basis of Geography, the Global Video Game Market is classified into North America, Europe, Asia Pacific, and the Rest of the world. In 2022, the Asia Pacific region held a revenue share of more than 53%, dominating the market. The growth of China as a significant gaming hub facilitated the dominance of the local sector internationally. The regional market is expanding as a result of China’s unrelenting rise in smartphone adoption. Due to actively pursuing inorganic development techniques, such as the purchase of Riot Games and Supercell Oy, Tencent Holdings Limited of China has emerged as the market’s dominant player.

Key Players

The “Global Video Game Market” study report will provide valuable insight with an emphasis on the Global market. The major players in the market are Activision Blizzard Inc., Apple Inc, Disney Consumer Products and Interactive Media Inc., Electronic Arts Inc, Microsoft Corporation, Nintendo Co. Ltd., Rovio Entertainment Corporation, Tencent Holdings Limited, and Sony Interactive Entertainment Inc.

Our market analysis also entails a section solely dedicated to such major players wherein our analysts provide an insight into the financial statements of all the major players, along with its product benchmarking and SWOT analysis. The competitive landscape section also includes key development strategies, market share and market ranking analysis of the above-mentioned players Globally.

Key Developments

• NFL Pro Era, a football video game for PlayStation and Meta Quest, was released as a result of a partnership between NFL and the sports technology company StatusPRO. Players in the market are aggressively concentrating on innovation and product differentiation to maintain their individual market shares.
• Activision Publishing, Inc.’s holding company, Activision Publishing, Inc., was acquired by Microsoft.

Ace Matrix Analysis

The Ace Matrix provided in the report would help to understand how the major key players involved in this industry are performing as we provide a ranking for these companies based on various factors such as service features & innovations, scalability, innovation of services, industry coverage, industry reach, and growth roadmap. Based on these factors, we rank the companies into four categories as Active, Cutting Edge, Emerging, and Innovators.

Market Attractiveness

The image of market attractiveness provided would further help to get information about the region that is majorly leading in the Global Video Game Market. We cover the major impacting factors that are responsible for driving the industry growth in the given region.

Porter’s Five Forces

The image provided would further help to get information about Porter’s five forces framework providing a blueprint for understanding the behaviour of competitors and a player’s strategic positioning in the respective industry. Porter’s five forces model can be used to assess the competitive landscape in the Global Video Game Market, gauge the attractiveness of a certain sector, and assess investment possibilities.

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