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In a recent published report, Kenneth Research has updated the Market report for Asia-Pacific Digital Gaming Market for 2021 till 2030. Report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In the view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to be regain 25% by the end of 2021- Positive Growth in the economic demand and supply.
U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) average exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilst imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Asia-Pacific Digital Gaming Market Products.
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Asia-Pacific is forecasted to be the largest digital gaming market in the world, with China being the biggest contributor to its growth. Among all digital activities, digital gaming has become one of the dynamic digital cultures, particularly for the youth of the region. The popularity of digital games in Asia Pacific is growing at an unprecedented rate. Mobile games have become extremely popular in the region, particularly in China and India. The Asia Pacific Digital Gaming market is expected to grow at a CAGR of 23.1% leading to a massive revenue of USD 241.56 Bn by 2023.
According to the statistics by the World Bank, the exports of ICT goods globally increased from 11.164% of total goods exports in 2017 to 11.53% of total goods exports in 2019. Additionally, exports of ICT services increased from 5.61% of service exports (BoP) in 2001 to 10.37% of service exports (BoP) in 2017.
Asia Pacific presents a market with diverse preferences for all gaming platforms- PCs, mobiles, and consoles. Though most of the revenues of digital games in 2017 came from mobile gaming, PC and Console gaming are also highly preferred. PC gaming is an important means of entertainment in the APAC region given the fact that Korea has a number of dedicated gaming rooms called“PC bangs” where gamers play multiplayer games, and digital games portal Steam (by VALVE) has unrestricted access to Chinese gamers. Also, Japan is home to major companies like Sega, NAMCO, etc., which contribute hugely to PC gaming revenues. Console gaming too is picking up in the region and is expected to see a stable growth rate. The increased exposure and development of the gaming industry in the region have boosted investment– companies like Nazara Technologies from India have gone under the IPO radar in FY2018.
“Final Report will add the analysis of the impact of COVID-19 on this industry.”
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By platforms, the market is segmented into PC games, mobile games, and console games. Among these segments, mobile games is the fastest growing segment, as well as the biggest revenue generator, as most of the revenues, comes from China and India, which represent two of the most populous markets with huge potentials for growth.
By countries, the market is divided into China, Japan, India and South Korea. China is the highest revenue-generating country among the others.
Key growth factors:
The rise in disposable income of the people of the region is expected to result in higher expenditure on digital games and thereby increase adoption and usage. The improvement in technology and internet network access by companies like Reliance Jio in India through their disruptive market strategies, is expected to strengthen market growth as it is going to enable gamers to play digitally-downloadable games without any speed issues.
In addition to these, governments in the region regularly intervene in digital cultural industries and support gaming corporations through their legal and/or financial measures, primarily because digital gaming has become one of the most significant parts of their digital economies.
Threats and key players:
o Internet penetration and speed are not the same in all the countries in the region. Low internet penetration and speed in regions like South Asia often negatively impact the growth of the market.
o Additionally, regulatory bodies in certain countries like China and Japan, often inhibit the growth of the market as they pursue regulatory measures to stream out harmful content in the games and try to control perceived gaming addictions.
o The key players in the Asia Pacific Digital Gaming market are Tencent Games, Nintendo, GungHo Online, Dhruva Interactive, etc.
What's covered in the report?
o Overview of the Asia Pacific Digital Gaming market
o Overview of different business models in digital games
o Analysis of the value chain of games and distribution channel analysis of games
o Historical, current and forecasted market size data for PC games Market, Mobile Games market and Console Games market
o Historical, current and forecasted market size data for Freemium, Pay to play, Advertising models market
o Historical, current and forecasted market size data for Shooter, Role- play Action, Sports, Strategy, Others genres market
o Historical, current and forecasted market size data for countries (India, China, Japan , South Korea) market size data for Digital Gaming Market segmentations (By platforms- PC, Console, Mobile, by revenue models- Freemium, Pay to play, Advertising, By genres- Shooter, Role- play Action, Sports, Strategy, Others)
o Market Trends in Asia Pacific Digital Gaming Market
o Qualitative analysis of the key drivers and challenges affecting the Asia Pacific Digital Gaming Market and its segmentations (By platforms- PC, Console, Mobile, by revenue models- Freemium, Pay to play, Advertising, By genres- Shooter, Role- play Action, Sports, Strategy, Others)
o Analysis of spending for segmentation by platforms– (India, China, Japan, South Korea)
o Analysis of the competitive landscape and profiles of major players operating in the market
Why buy?
o Get a broad understanding of the Asia Pacific Digital Gaming Market,
o Get a broad understanding of the different business models used in digital games
o Get an understanding of how the games reach the end users from the developers
o Get country-specific market size and observations for the Digital Gaming market and its segmentations (By platforms- PC, Console, Mobile, by revenue models- Freemium, Pay to play, Advertising, By genres- Shooter, Role- play Action, Sports, Strategy, Others)
o Get specific drivers and challenges for Digital Gaming market and its segmentations (By platforms- PC, Console, Mobile, by revenue models- Freemium, Pay to play, Advertising, By genres- Shooter, Role- play Action, Sports, Strategy, Others)
o Get analysis of spending for segmentation by platforms– (India, China, Japan, South Korea)
o Recognize major competitors' business and market dynamics, and respond accordingly
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The report further discusses the market opportunity, compound annual growth rate (CAGR) growth rate, competition, new technology innovations, market players analysis, government guidelines, export and import (EXIM) analysis, historical revenues, future forecasts etc. in the following regions and/or countries:
- North America (U.S. & Canada) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
- Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, Y-O-Y growth & Market Players Analysis & Opportunity Outlook
- Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC, Poland, Turkey, Russia, Rest of Europe) Market size, Y-O-Y growth Market Players Analys & Opportunity Outlook
- Asia-Pacific (China, India, Japan, South Korea, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market size, Y-O-Y growth & Market Players Analysis & Opportunity Outlook
- Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market size, Y-O-Y growth Market Players Analysis & Opportunity Outlook
The Market report answers the following questions:
What is the aim of the report?
- The market report presents the estimated market size of Asia-Pacific Digital Gaming Market by the end of forecast period. Additionally, the historical and current market size is also examined in the report.
- Based on various indicators, the Year-on-Year growth (%) and compound annual growth rate (CAGR) for the given forecast period is offered.
- An overview of the Market based on geographical scope, market segmentation and financial performance of key players is presented in the report.
- The report presents current trends in the industry and future scope of the Market in North America, Asia Pacific, Europe, Latin America and Middle East and Africa.
- The various parameters accelerating the growth of Market are incorporated in the research report.
- The report analyzes growth rate, market size and valuation of the Market during the forecast period.
What aspects regarding the regional analysis Market are included in this report?
- Geographical regions covered in the report include North America, Europe, Asia Pacific, Latin America and Middle East & Africa region.
- The report consists of detailed region-wise analysis of current and future market trends, providing information on product usage and consumption.
- The growth rate of the market in every region, including their countries over the forecast period is included in the market report.
Based on what factors are the key market players assessed in this report?
- The report offers detailed analysis of leading companies in the market across the globe.
- It provides details of the major vendors involved in the Market including Key Playes
- A comprehensive overview of each company including the company profile, generated revenue, pricing of goods and the manufactured products is incorporated in the report.
- The facts and figures about market competitors along with standpoints of leading market players are presented in the report.
- The recent developments, mergers and acquisitions related to mentioned key players are provided in the market report.
What is the key information extracted from the report?
- Extensive information on factors estimated to affect the Market growth and market share during the forecast period is presented in the report.
- The report offers the present scenario and future growth prospects Market in various geographical regions.
- The competitive landscape analysis on the market as well as the qualitative and quantitative information is delivered.
- The SWOT analysis is conducted along with Porter's Five Force analysis.
- The in-depth analysis provides an insight into the Market, underlining the growth rate and opportunities offered in the business.
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Eli
Eli is a freelance writer and possess double graduation degree in physics and chemistry. She is an intense writer covering everything for Science and Tech to Business, Entertainment, Sports and Lifestyle.
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