NEW YORK, Feb. 14, 2022 /PRNewswire/ -- As per study of Zion Market Research, Gaming industry garnered revenue worth nearly US$ 201 billion in 2021 and is anticipated to gain returns about US$ 435 billion by 2028.
In addition to this, Gaming Market is prognosis to record CAGR of almost 12.1% in 2022-2028. Apparently, growth of gaming market over forecast timespan is subject to rise in lockdown as a result of COVID-19 pandemic outbreak forcing people to stay indoors and turn to gaming platforms on their smartphones, console, tablets, and laptops. Apart from this, a prominent rise in usage of internet and seamless gaming experience for end-users with launch of 4G and 5G wireless network technologies will prop up expansion of gaming market. Furthermore, onset of e-sports mania has created new growth avenues for gaming business across globe. Reportedly, time spent on watching video games has also increased. Individuals including children as well as adult & millennial population are launching live game streaming videos and trying to attract large number of subscribers to their videos through tools such as YouTube. Apparently, these games help in creating creative content and produce exceptional game play moments that are shared & viewed by large number of population across globe. All these aforementioned aspects will create new growth avenues for gaming industry in upcoming years.
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List of Key Players Covered in the Gaming Market Report:
Walt Disney Co.
GungHo Online Entertainment Inc.
Electronic Arts Inc.
Bandai Namco Entertainment Inc.
Activision Blizzard Inc.
Tencent Holdings Ltd.
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Smartphone Segment To Dominate Game Type Scenario By 2028:
Rapid expansion of smartphone segment over forecast timespan can be credited to rise in use of smartphones across globe and high internet penetration even in remote areas. In addition to this, new features are added to AR, cloud gaming, and VR for improving end-user experience of gaming on smartphone. This will culminate into humungous expansion of gaming market owing to huge smartphone usage.
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Asia Pacific Gaming Market To Retain Dominance Over 2022-2028:
Growth of gaming market in Asia Pacific zone in next six years can be credited to launching of smartphones with new embedded features by giant manufacturers in countries such as Chin, South Korea, Malaysia, Singapore, India, Japan, and Taiwan. Additionally, growing popularity of e-sports in countries such as South Korea and Taiwan will proliferate regional market growth. Reportedly, there is online streaming of games on MTV and YouTube in countries such as India. This has contributed tremendously towards regional market profit margins.
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Market size value in 2021
USD 201 billion
Revenue forecast in 2028
USD 435 billion
CAGR of almost 12.1% 2022-2028
2016 - 2021
2022 - 2028
By Product Type, By Application, and By End Use
Value (USD Billion), and Volume (Units)
Revenue in USD million/billion and CAGR from 2022 to 2028
North America, Europe, Asia Pacific, Latin America, and Middle East & Africa, and Rest of World
U.S., Canada, Mexico, U.K., Germany, France, Italy, Spain, China, India, Japan, South Korea, Brazil, Argentina, GCC Countries, and South Africa, among others
Number of Companies Covered
Walt Disney Co., Sony Corp., GungHo Online Entertainment Inc., NetEase Inc., Electronic Arts Inc., Bandai Namco Entertainment Inc., Activision Blizzard Inc., Microsoft Corp., CyberAgent Inc., and Tencent Holdings Ltd.
Market growth drivers, restraints, opportunities, Porter's five forces analysis, PEST analysis, value chain analysis, regulatory landscape, market attractiveness analysis by segments and region, company market share analysis, and COVID-19 impact analysis.
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The Global Gaming Market is segmented as follows:
By Game Type
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