The global gaming market is valued at USD 249.55 Billion in 2022 and is expected to grow from USD 281.77 Billion in 2023 to USD 665.77 Billion by 2030, exhibiting a CAGR of 13.1% during the forecast period (2023-2030).

Get free sample PDF of the research report:   https://www.fortunebusinessinsights.com/request-sample-pdf/gaming-market-105730

Segmentation:

The shooting game genre gains momentum with the introduction of 3D realistic graphics

Based on game type, the market is categorized into sports, action, shooting, role-playing, and others. The shooting segment is expected to show significant expansion and account for a major share during the forecast period. This expansion is driven by the incorporation of 3D realistic graphics in most shooting games.

Mobile phone sector takes the lead due to growing penetration of smartphones

Based on device type, the market is segmented into PC/MMO, mobile, tablet, and TV/console. The mobile segment is expected to register significant expansion during the study period. This surge can be attributed to the increasing penetration of smartphones across the globe.

The male segment is expected to register significant growth due to the variety of games offered

Based on end user, the market is segmented into male and female. The male segment is expected to dominate the market at a significant CAGR during the estimated period. This growth is driven by the availability of various games designed for men.

Based on geography, the market is analyzed across North America, Asia Pacific, Europe, South America, and Middle East & Africa.

Report Coverage:

The report offers comprehensive coverage of the key trends driving the global industry scenario during the forecast period. In addition, it also offers insights into the key factors propelling the market expansion in the coming years. Other aspects of the report include an overview of the key steps taken by the key market participants to strengthen their foothold in the industry.

Drivers and Restraints:

Young people's growing interest in gaming is driving the expansion of the industry

One of the major factors driving the growth of the gaming industry is the growing interest in video games among young people. The growing indulgence of young people in indoor games and other leisure activities is further accelerating the expansion of the industry.

However, the growth of the industry may be affected by the increasing number of avid gamers, which may lead to addiction and social anxiety issues.

Regional insights:

Asia-Pacific rises as urban populations grow rapidly

The share of the gaming industry in Asia Pacific is expected to grow significantly throughout the forecast period. This expansion can be attributed to the growing awareness regarding the launch of video games in the market.

The European market is expected to expand at a lucrative pace during the forecast period. This rapid growth is driven by increasing government investments in the development of the gaming sector.

Competitive Landscape:

Major companies sign collaboration agreements to strengthen industry foothold

Many industry players are designing and launching new products to strengthen their market position. This is parallel to the adoption of several strategic measures towards expanding their geographical reach. Other initiatives include a surge in research activities to enable the deployment of superior solutions.

Major industry developments:

April 2021 – Electronic Arts Inc. signed an agreement to acquire Glu Mobile Inc. The move was aimed at expanding the company's foothold in the mobile gaming space.

List of major players mentioned in the report:

Microsoft Corporation (US)
Nintendo Co., Ltd. (Japan)
Rovio Entertainment Corporation (Finland)
NVIDIA Corporation (US)
Valve Corporation (US
)PlayJam Ltd (UK)
Electronic Arts Inc. (US)
Sony Group Corporation (Japan)
BANDAI NAMCO Holdings Inc. (Japan
)Tencent Holdings (China)
Activity Blizzard Inc. (US)
View the detailed summary of the research report:
https://www.fortunebusinessinsights.com/jp/game-market-105730