Gaming Market Size Grows USD 74.93 Billion as Adoption of AR and VR Games Grows

Key Market Dynamics:

  • Market Driver: One of the key factors driving the growth of the global game industry is the growing adoption of AR and VR games. Game developers prefer AR and VR devices over traditional game devices. For example, companies such as Sony and Microsoft are developing gaming platforms using advanced three-dimensional (3D) technologies. AOL Partner Studio partnered with OMD and Sony to launch Smurfs: The Lost Village game for HoloLens. Microsoft developed RoboRaid, a first-person shooter AR game for HoloLens.
  • Market Challenge: One of the key challenges to the growth of the global game industry is the regulation of loot boxes. Players purchase loot boxes to get new characters, animations, and cosmetic items, which may not directly affect gameplay performance. The use of loot boxes in games is seen as an illicit form of online gambling and an addictive practice, especially for children.

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Highlights of the market segment:

The gaming market report is segmented by type (casual gaming and professional gaming) and geography (APAC, North America, Europe, Middle East and Africaand South America).

  • Regional Opportunities: APAC will be the leading region with 56% of the market’s growth over the forecast period. China, Japanand South Korea (Republic of Korea) are the main gaming markets in APAC. The market growth in APAC will be faster than the market growth in other regions. The increasing penetration of e-sports in developing countries, such as Taiwan, Malaysiaand Singaporewill contribute to the growth of the gaming market in APAC during the forecast period.
  • Revenue-generating segment insights: The growth of the gaming market share in the casual gaming segment will be significant during the forecast period. Amid the COVID-19 pandemic, the adoption of online gaming solutions has increased significantly. The increasing adoption of smartphones will drive the growth of the segment in the coming years. Due to the pandemic-induced lockdowns, the physical gaming facilities were closed for several weeks. This led to an increase in the adoption of online gaming solutions among professional and casual gamers.

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Some companies mentioned in their offer

    • Activision Blizzard Inc.
    • Alphabet Inc.
    • Apple Inc.
    • Bandai Namco Holdings Inc.
    • DeNA Co. Ltd.
    • Electronic Arts Inc.
    • epic games inc.
    • GungHo Online Entertainment Inc.
    • Jam City Inc.
    • Kunlun Wanwei Technology Co. Ltd.
    • Microsoft Corp.
    • NetEase Inc.
    • Niantic Inc.
    • nintendo co. Ltd.
    • Rovio Entertainment Corp.
    • Square Enix Holdings Co. Ltd.
    • Sony Group Corp.
    • The Walt Disney Co.
    • Ubisoft Entertainment
    • ZeptoLab UK Ltd.
  • Access more vendor profiles with their key offerings available with Technavio, Download sample report

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Game Simulator Market by end user, component, type and geography – forecast and analysis 2020-2024

Mobile gaming market by platform and geography – forecast and analysis 2022-2026

Scope of the gaming market

Reporting coverage

Details

page number

120

Base year

2021

Forecast Period

2022-2026

Growth momentum & CAGR

Accelerate at a CAGR of 7.31%

Market growth 2022-2026

$74.93 billion

Market structure

fragmented

YoY Growth (%)

6.52

Regional analysis

APAC, North America, Europe, Middle East and Africa, and South America

Performing Market Contribution

APAC at 56%

Main consumer countries

USA, China, Japan, South Korea and Germany

Competitive landscape

Leading Companies, Competitive Strategies, Consumer Engagement Reach

Profiled companies

Activision Blizzard Inc., Alphabet Inc., Apple Inc., Bandai Namco Holdings Inc., DeNA Co. Ltd., Electronic Arts Inc., Epic Games Inc., GungHo Online Entertainment Inc., Jam City Inc., Kunlun Wanwei Technology Co . Ltd., Microsoft Corp., Netease Inc., Niantic Inc., Nintendo Co. Ltd., Rovio Entertainment Corp., Square Enix Holdings Co. Ltd., Sony Group Corp., The Walt Disney Co., Ubisoft Entertainment and ZeptoLab UK Ltd.

Market dynamics

Analysis of the parent market, Inductors and obstacles to market growth, Analysis of high-growth and slow-growing segments, COVID 19 impact and future consumer dynamics, and analysis of market conditions for the forecast period.

Adjustment Range

If our report doesn’t provide the data you’re looking for, you can contact our analysts and have segments tailored.

Main topics covered:

  • Management summary
  • Market landscape
  • Market size
  • Analysis of five forces
  • Market segmentation by type
  • Market segmentation by platform
  • Market segmentation by device
  • Customer landscape
  • Geographical landscape
  • Supplier landscape
  • Supplier analysis
  • Appendix

About us

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