Digital Gaming Market and Business Opportunities in Coming Years by 2030
Growing internet penetration and increasing demand for online gaming are the major factors driving the growth of the market. Digital gaming is gaining traction due to its advanced features that include real-time interaction between players, high-quality graphics, and more. The market is expected to further grow due to increasing investments in the gaming industry and the launch of 5G services. Moreover, the development of virtual reality (VR) and augmented reality (AR) technologies is also expected to create significant growth opportunities for the market. Furthermore, the increasing number of mobile gaming users is also expected to fuel the growth of the market.
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Overview
The Digital Gaming market is rapidly growing across the globe. The mounting demand of digital gaming from the social, casual and core gamers, enhanced penetration of the portable gaming devices such as smartphones and tablets and rising preference for paymium and freemium subscription models have made this a booming market.
The growth of the Digital Gaming Market has been profound in the emerging markets of Asia Pacific and the Middle East & Africa (MEA). Despite constraining factors such as piracy, games utilising a lot of space and traditional systems not capable of supporting the AAA games, The Global Digital Gaming Market is still expected to follow a remarkable growth trajectory during the forecast period.
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Market Analysis
The boom of the market is due to a surging demand for the freemium subscription model. Growth in this sector can be attributed to the overwhelming usage of smartphones and tablets for gaming. Youngsters comprise a major portion of the growing gaming audience. A significant trend witnessed in the market has been the integration of virtual technologies into gaming. Nowadays, vendors are coming up with innovative gaming technologies such as integration of virtual technologies into mobile gaming applications which offers easy control to the end users. Apple’s new gaming product was launched with the concept of virtual technologies which was a major enticing factor for gadget lovers. However, internet bandwidth and restrictive government policies in some countries such as Bahrain, China, Iran, Saudi Arabia etc. is somewhat limiting growth in this market.
Geographical segmentation
The market has been segmented and analyzed by six geographies – North America, Western Europe, Central Eastern Europe, Middle East & Africa, Latin America and Asia Pacific. North America is a mature but not saturated market. It is the second largest region and most of its revenue comes from smartphone gaming. Western Europe has had slower adoption of digital gaming. The growth rate for Western and Eastern Europe will be slightly higher in the forecast period. The Middle East & Africa (MEA) region is one of the emerging regions for the gaming market. Detailed country wise analysis of 18 leading countries in these regions is included.
Each region is segmented and analyzed by the gaming audience, gaming devices, gaming platforms and gaming subscription models.
Vertical Analysis
The Global Gaming Market is segmented and analyzed by four major product segments- Gaming Audience, Gaming Devices, Gaming Platforms and Gaming Subscription Models. A deeper segmentation and analysis has been carried out for each of the six regions by the four major segments.
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Key Players
Some of the prominent players present in the Global Gaming Market are Microsoft, Nintendo, Samsung, and Sony.
Competitive Analysis
The Global Digital Gaming Market is experiencing significant investments from key business players in the market. The vendors with an established presence in the US are now trying to penetrate the gaming market of APAC. The APAC market is lucrative for the Global Gaming Market vendors due to the rising youth population in Vietnam and India and due to lesser competition in this region. Current and future key business strategies of the competitors and their growth in the different regions.
Benefits
The report provides an exhaustive analysis of the market aiming to bring all digital gaming stakeholders such as game publishers and developers under one platform.
The report offers a detailed analysis of the global digital gaming industry in terms of the gaming audience, gaming devices, gaming platforms and gaming subscription model. The report also entails a detailed regional analysis, i.e. analysis of the leading countries in these regions according to the above-mentioned segments.
The report provides insights about the-
The report gives information related to the latest industry and market trends, key stakeholders, industry pest analysis and competitive landscape. It includes the end user analysis, i.e. gamers (in terms of time spent on games in a day, month, preferred gaming device, preferred subscription mode and presently, famous games among the gamers). This analysis was done according to the end user survey result which was successfully conducted across the globe during the time of the study.
The report will be of significance to the key stakeholders of the digital gaming market such as game publishers, game developers, game platform providers, game distributors, game device manufacturers and gaming associations in the following ways:
Drivers, growth opportunities and regional digital gaming trendsPresent and upcoming gaming behaviour of the gamers in the regions
