Video Game Market Revenue Analysis & Region and Country Forecast To 2028
The Global Video Game Market size is expected to reach USD 317.17 Billion in 2028 and register a CAGR of 8.9% over the forecast period, according to the latest report by Reports and Data. Increase in per capita income, rise in interest in video games, and increase in usage of smartphones and consoles are key factors fueling market revenue growth. Games have become an important part of social and entertainment fabric in various countries across the globe and adoption of various gaming platforms is propelling market revenue growth.
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Video game industry has witnessed a
major surge in demand during the COVID-19 pandemic due to mandatory lockdown in
many countries. People are turning to gaming platforms which are attracting
more and more players in terms of online traffic. The pandemic has pushed
at-home activities such as video games at the forefront of entertainment. Rise
in community and social gaming, new console releases, and increase in launches
of new hit titles are contributing significantly to growth of the market.
However, increasing piracy and online fraud is a major factor restraining
market growth.
Free to Play (F2P) games are a
powerful way to drive profits in the market. With low barrier to entry, playing
experience is improving at a rapid rate, and more people are joining, which
makes purchased items more valuable and attractive to gamers. Games like
Fortnite, Call of Duty: Warzone, and Candy Crush are example of games where
players play for free at the start and then pay for boosters, extra lives, and
strategic moves as their interest in the game becomes more gripping. Increase
in live streaming trend and emergence of platforms like Twitch is also driving
market growth. Development of handheld game consoles is another factor driving
the demand for video games.
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Top Profiled in the Global Video Game Market Report:
·
Microsoft Corporation,
·
Apple, Inc.,
·
Nintendo Co., Ltd.,
·
Activision Blizzard,
Inc.,
·
Electronic Arts, Inc.,
·
Disney Consumer Products
·
Others
Market
Segmentation:
By Device Outlook
- Console
- Tablet
- Smartphone
- Computer
- Others
By Type Outlook
- Online
- Offline
By Application Outlook
- Action
- Adventure
- Shooter
- Fighting
- Racing
- Sports
- Others
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By End-use Outlook
- Residential
- Commercial
Key
Takeaways of the Global Video Game Market Report:
·
A comprehensive overview
of the global Video Game industry.
·
Accurate market
projections in terms of market size, share, and volume.
·
Thorough study of the
global market dynamics, such as major market revenue growth drivers,
opportunities, threats, challenges, restraints, and future growth avenues.
·
Deep-dive analysis of the
upcoming market trends.
·
Qualitative
and quantitative analyses of the global Video Game market.
·
Elaborate study of the
leading regional markets in the global Video Game market.
·
Complete
overview of the market’s competitive landscape.
·
Brief look at the company profiles and portfolios.
Key Regional Markets Covered in the Report:
·
North America
o U.S.
o Canada
o Mexico
·
Europe
o Russia
o U.K.
o Germany
o France
o BENELUX
o Rest
of Europe
·
Asia Pacific
o China
o Japan
o India
o South
Korea
o Rest
of Asia Pacific
·
Latin America
o Brazil
o Rest
of Latin America
·
Middle East & Africa
o Saudi
Arabia
o U.A.E.
o Israel
Rest of Middle East & Africa
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