A video game is an electronic game that can be played on a computer, gaming console, or smartphone. Video games are divided into two categories: computer games and console games, depending on the platform. However, the introduction of social networks, cellphones, and tablets in recent years has given rise to new categories such as mobile and social games. Since the first games were released in the 1970s, video games have come a long way. Today’s video games have photorealistic graphics and, in many cases, realistic simulations of reality.
The global pandemic and stay-at-home orders in several nations have given the sector a boost. At this time, the gaming business employs over two billion people worldwide, accounting for over a quarter of the world’s population. Tech businesses are eager to engage in this revenue stream because of the industry’s high profit margins. Google, Facebook, and Apple are just a few of the tech giants that have entered the video game industry.
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.
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.
Major players in the market include Microsoft Corporation, Apple, Inc., Nintendo Co., Ltd., Activision Blizzard, Inc., Electronic Arts, Inc., Disney Consumer Products and Interactive Media, Inc., Lucid Games, Ltd., Valve Corporation, Sony Interactive Entertainment, Inc., and Ubisoft Entertainments S.A.
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Some Key Highlights From the Report
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For the purpose of this report, Reports and Data has segmented the global video game market based on device, type, application, end-use, and region:
Device Outlook (Revenue, USD Billion; 2018–2028)
Type Outlook (Revenue, USD Billion; 2018–2028)
Application Outlook (Revenue, USD Billion; 2018–2028)
End-use Outlook (Revenue, USD Billion; 2018–2028)
Regional Outlook (Revenue, USD Billion; 2018–2028)
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Table of Content:
Chapter 1. Market Synopsis 1.1. Market Definition 1.2. Research Scope & Premise 1.3. Methodology 1.4. Market Estimation TechniqueChapter 2. Executive Summary 2.1. Summary Snapshot, 2019-2027Chapter 3. Indicative MetricsChapter 4. Video Game Market Segmentation & Impact Analysis 4.1. Market Material Segmentation Analysis 4.2. Industrial Outlook 4.2.1. Market indicators analysis 4.2.2. Market drivers analysis 4.2.3. Market restraints analysis 4.3. Technological Insights 4.4. Regulatory Framework 4.5. ETOP Analysis 4.6. Porter’s Five Forces Analysis 4.7. Competitive Metric Space Analysis 4.8. Price trend Analysis 4.9. Customer MappingChapter 5. Competitive Landscape 5.1. Market Revenue Share By Manufacturers 5.2. Manufacturing Cost Breakdown Analysis 5.3. Mergers & Acquisitions 5.4. Market positioning 5.5. Strategy Benchmarking 5.6. Vendor Landscape
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