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Kenneth Research, in its repository of Digital Gaming Market research reports, have recently added a report on Digital Gaming Market which emphasizes on the latest trends, key opportunities, drivers, and the challenges associated with the growth of the market during the forecast period, i.e., 2021-2030. The market is projected to grow with a CAGR of18.98% during the forecast period and further attain a market revenue of USD 323.91 Bn in the year 2023.
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 Digital Gaming Market Products.
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The global spending on IIoT platforms for manufacturing is predicted to reach a value of about USD 11 billion in 2024, up from USD 1.5 billion in 2018, by growing at a CAGR of about 40% in 7 years.
“Final Report will add the analysis of the impact of COVID-19 on this industry.”
Digital Games is one of most booming sectors of the Global Media and Entertainment Industry, and it comprises games played on PCs, Mobiles, and Consoles. According to Netscribes Gaming Market Research, the digital games market is expected to have a significant growth at a CAGR of 18.98% (2018-2023) leading to a global digital gaming market size of USD 323.91 Bn by 2023.
Mobile gaming has developed at a staggeringly high rate in recent times and was the largest segment in 2017, followed by Console and PC games. It is the fastest growing segment of the market and is forecasted to grow at a high CAGR through 2018-2023. The segment is gaining traction due to low entry barriers and fast proliferation activities of internet and smartphones across the globe.
PC Games and Console Games hold significant portions of the global digital games revenues. Though the online-browser gaming within PC games have taken a shift to smartphones and tablets, expanded digital purchases on these platforms along with the introduction of new technologies like Augmented Reality and Virtual Reality are driving the markets forward.
Key growth factors:
o The use of internet and smartphones is one of the primary requirements of video games market in the age of digital distribution of games. Thus increased internet and smartphone penetration across the globe is driving the global digital games market.
o Factors like improvement in global economic growth which provides consumers with more disposable income to spend on gaming and increase in the number of worldwide gamers are continuously raising the demand for digital gaming across the globe.
Threats and key players:
o Although the digital gaming industry is forecasted to have a healthy growth globally, still, there is low internet speed and smartphone penetration in several regions of the world which hinders the growth of digital games. Also, often, challenging economic conditions, political unrest and governmental restrictions in regions restrict the growth of digital gaming market. Case in point, the recent political turmoil like Eurozone crisis, Brexit, etc. have challenged the growth of the market.
o Some of the major gaming companies in the Digital Gaming Market are Activision Blizzard, Electronic Arts, Take-Two Interactive and Ubisoft.
nteractive and Ubisoft.
What's covered in the report?
o Overview of the Global 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, Other genres market
o Historical, current and forecasted regional (North America, Europe, Asia Pacific, Latin America, Middle East & Africa) 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 Global Digital Gaming Market
o Qualitative analysis of the key drivers and challenges affecting the Global 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– (Global, North America, Europe, Asia Pacific, Latin America,Middle East and Africa)
o Analysis of the competitive landscape and profiles of major players operating in the market
o Analysis of new age startups in the global games market
o Get a broad understanding of the Global Digital Gaming Market, PC games Market, Mobile Games Market and Console Games 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 Region-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– (Global, North America, Europe, Asia Pacific, Latin America,Middle East and Africa)
o Recognize major competitors' business and market dynamics, and respond accordingly
o Get start-up company profiles
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The Market report answers the following questions:
What is the aim of the report?
- The market report presents the estimated market size of 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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