(MENAFN- Ameliorate Digital Consultancy)
The value of the worldwide video game market was estimated to be approximately US$ 170.53 billion in 2021, and it is anticipated to grow at a CAGR of 13% to reach US$ 650 billion by 2032. The expansion of the market is anticipated to be driven by advances in technology and ongoing innovation in hardware and software to enhance real-time rendering of visuals.
While the enormous success of the PlayStation has boosted the market demand for gaming consoles, mobile video games have gained significant traction and now account for approximately 50% of the video gaming market.
The size of the worldwide video game market exceeded US$ 170.53 billion, growing at a rate of around 11% between 2017 and 2021. Virtual reality and the worldwide video game market, for example, have provided major creators with a wealth of expansion options.
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How Emerging Popularity of PlayStations and Mobile Games to Proliferate the Demand for Video Games?
In the video game industry, sports video games, or more commonly known as e-sports, have paved the way for a new phenomena. The worldwide demand for video games has risen dramatically as a result of the quick advancements in computing power found in gaming consoles.
In addition, as computer graphics techniques advance, video games seem to provide players more immersive experiences. Because of these enormous advancements, experts contend that gaming technology is no longer a barrier to the market's rapid expansion but rather an enabler of it.
Key Companies Profiled
Activision Blizzards Inc. Nintendo Co. Ltd. NVIDIA Corp. Sony Corp. Microsoft Corp. Electronic Arts Inc. (EA) Ubisoft Entertainment SA King Digital Entertainment Plc. Supercell Oy Take-Two Interactive Vivendi SE Konami Holdings Corporation Disney Interactive Studios THQ Nordic GmbH Sega Corporation
The report contains latest updates, forecasts, and information on the outlooks for the recovery of the market players (individual countries, regions, and organizations) from the Covid-19 pandemic. It gives information on the latest issues driving the economy and risk forecast changes for more than 100 selected countries across the globe. In its study a special focus is give on the country-wise and region-wise data with their economic and risk forecasts.
The multinational businesses that are on top in the Video Games marketplace in the recent years and the topics related to the selected markets are covered in the report. This Report is useful to National and Multinational Organizations, Business small and large seeking to expand in the new markets, Educational and research groups, National and international investors and others.
What insights this research provides to readers?
The report gives information in the emerging market in the Video Games industry across the world. The markets that are expected to overtake the major economies in terms of economic growth in the coming decade are highlighted in the report. The updates given in the report are with the impact of Covid-19 on the Video Games industry. The report has also studied how the vaccination rollouts have impacted the Video Games market and its individual economies. The report includes some key threats that may hamper the growth of the market and strategies to survive the threats. The report presents average annual GDP growth rates of the global Video Games markets for the year 2023-2033. Internal, external challenges, and future growth opportunities to the market players in the Video Games market are included in the report.
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The report has created a thorough and insightful research study about the Video Games industry. The report provides an unbiased view of all the sectors and markets including the primary, secondary and tertiary allowing the market players formulate strategies for their operations in the national and international markets.
What are impelling reasons for buying this report?
Global Video Games Market prognosis for the present and the future in both developed and developing markets Both the market segment with the largest projected share and the market segment with the highest CAGR throughout the projection period Countries and regions anticipated to experience the fastest development throughout the projected period The most recent innovations, market shares, and tactics used by the leading market players Adjustment of the Report The report contains all of the segmentation seen above across all of the nations indicated.
Video Games Market: Segmentation
By Game Type : Action Adventure Arcade Casual Children's Entertainment Strategy Sports Shooter Role-Playing Racing
By Hardware : Handheld Console Static Console Video Gaming Accessories
By Physical Platform : By Digital Platform : Online Mobile/Tablet Handheld Virtual Reality
By Region : North America Latin America Europe Japan APEJ Middle East & Africa
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Key Questions Covered in the Video Games Market Report
How key market players in the Video Games market are maintaining their competitive advantage in the wake of globalization? What changing market dynamics in the Video Games market specify about the future opportunities for manufacturers? How Covid-19 pandemic affected sales in the Video Games market and what strategies are expected to recover from its impact? What business tactics are gaining attention and influencing Video Games market rivalry?
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