Based on Triton’s research report, the global gaming market is estimated to advance with a CAGR of 11.45% during the forecast period 2024-2032.
Various factors, like the rise of next generation advanced gaming consoles, increasing internet access, and a massive number of smartphone users, are fueling the growth of the gaming market. Additionally, convenient accessibility to free games and a large audience with a preference for digital games contribute the market expansion.
On the contrary, piracy issues associated with digital games, coupled with counterfeiting gaming merchandise, hinder the gaming market’s development. Similarly, many problems with hardware compatibility pose an obstacle for game developers as well as for players, which restricts the scope of the gaming market.
REGIONAL OUTLOOK
The global gaming market covers Latin America, Europe, Asia-Pacific, North America, and the Middle East and Africa regions.
North America is expected to undergo the fastest growth over the forecast period. With countries like the United States and Canada, the gaming market in this region gained immense popularity. A large demographic of smartphone users and the establishment of esports businesses collectively lead to the progress of the studied market.
Competitive Outlook
The major market players in the gaming market are Activision Blizzard, Sony Corporation, Microsoft Corporation, Bethesda Softworks Llc, Square Enix Holdings Co Ltd, Electronic Arts Inc, Sega, Ubisoft Entertainment SA, Nintendo Co Ltd, and Zynga.
Bethesda Softworks LLC is a computer game developer headquartered in Maryland, US. Action games, role-playing games, shooter games, sports and racing games, and strategy games are all produced and distributed by the firm for use on personal computers and mobile devices. The company sells its products through online retailers to a wide customer base all over the world, including in the United States, Australia, and New Zealand.
1. Global Gaming Market- Summary
2. Industry Outlook
2.1. Parent Market Analysis- Media & Entertainment
2.2. Impact Analysis On The Gaming Market
2.2.1. Covid-19 Impact On The Gaming Market
2.2.2. Ukraine-russia War Impact On The Gaming Market
2.3. Porter’s Five Forces Analysis
2.3.1. Threat Of New Entrants
2.3.2. Threat Of Substitutes
2.3.3. Bargaining Power Of Buyers
2.3.4. Bargaining Power Of Suppliers
2.3.5. Threat Of Competitive Rivalry
2.4. Market Maturity Analysis
2.5. Industry Components
2.5.1. Component Suppliers
2.5.2. Research & Development
2.5.3. Hardware Manufacturing Development & Publishing
2.5.4. Distributors
2.6. Regulatory Framework
2.7. Key Buying Impact Analysis
2.7.1. Game Ratings
2.7.2. Price
2.7.3. Exclusivity
2.7.4. Online Service
2.7.5. Device Type & Compatibility
2.7.5.1. Performance
2.7.5.2. Backward Compatibility
2.7.5.3. Peripherals
2.7.5.4. Storage
2.7.5.5. Media Support
2.8. Key Market Strategies
2.8.1. Collaborations
2.8.2. Product Launches
2.8.3. Acquisitions
2.8.4. Expansions
2.9. Market Drivers
2.9.1. Rise Of Next-generation Gaming Consoles
2.9.2. Increasing Internet Access
2.9.3. Rapid Increase In Smartphone Users
2.9.4. Extensive And Devoted Audience For Digital Games
2.9.5. Convenient Accessibility To Free Games
2.10. Market Challenges
2.10.1. Elevated Expenses In Game Development
2.10.2. Piracy Challenges Associated With Digital Games
2.10.3. Rising Incidence Of Counterfeit Gaming Merchandise
2.10.4. Challenges In The Localization Of Games
2.10.5. Hardware Compatibility Issues
2.11. Market Opportunities
2.11.1. Enhanced Processing Power And Reduced Latency With 5g Connectivity
2.11.2. Unrestricted Gaming Access With Cloud Gaming
2.11.3. Immersive Experiences At More Affordable Prices With Ar & Vr
2.11.4. Enhanced Gaming Experience With Edge Computing
2.12. Analyst Perspective
3. Global Gaming Market – By Type
3.1. Online
3.2. Offline
4. Global Gaming Market – By Component
4.1. Software
4.2. Hardware
5. Global Gaming Market – By Device Type
5.1. Console Gaming
5.2. Pc Gaming
5.3. Mobile Gaming
5.3.1. Android
5.3.2. Ios
5.4. Browser Gaming
6. Global Gaming Market – By Genre
6.1. Action/Adventure Games
6.2. Arcade Games
6.3. Strategy & Brain Games
6.4. Casino Games
6.5. Casual Games
6.6. Sport Games
6.7. Other Genres
7. Global Gaming Market – By Regional Outlook
7.1. North America
7.1.1. Market By Type
7.1.2. Market By Component
7.1.3. Market By Device Type
7.1.3.1. Market By Mobile Gaming
7.1.4. Market By Genre
7.1.5. Country Analysis
7.1.5.1. United States
7.1.5.1.1. United States Gaming Market Forecast & Prospects