LONDON–(BUSINESS WIRE)–#ApplicationSoftware–The global video game market is expected to post a CAGR of more than 9% during the period 2019-2023, according to the latest market research report by Technavio. Request a free sample report
The growing affordability of smartphones has increased their adoption in developing countries such as China, India, and Mexico. In addition, rapid penetration of internet has increased the number of mobile gamers. Many smartphone manufacturers are introducing large-screen mobile devices with high display resolutions to provide an enhanced gaming experience. These factors are boosting the growth of the mobile gaming segment. To capitalize on this growing segment, prominent market players are venturing into mobile gaming platforms and are offering a wide range of online games. Thus, the rising penetration of smartphones and improving internet access, is contributing to the growth of the global video game market will accelerate significantly during the forecast period.
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As per Technavio, cross-platform gaming experiences will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other important trends and market drivers that will affect market growth over 2019-2023.
Global Video Game Market: Cross-Platform Gaming Experiences
The advent of cross-platform gaming has allowed players from different platforms and devices to play together at the same time. The growing popularity of cross-platform gaming is compelling vendors in the cloud-based video game market to maintain compatibility of their games across various devices such as smartphones, laptops, tablets, and PCs. Further advances in technology and the increasing adoption of smart devices are expected to boost the growth of the market during the forecast period.
“Growing popularity of gaming among women and the prominence of GaaS will further boost market growth during the forecast period,” says a senior analyst at Technavio.
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Global Video Game Market: Segmentation Analysis
This market report segments the global video game market by platform (mobile devices, consoles, and computing devices) and geography (APAC, Europe, MEA, North America, and South America).
The APAC region led the market in 2018, followed by North America, Europe, South America, and MEA respectively. During the forecast period, the APAC region is expected to maintain its dominance over the global market. This is due to the growing popularity of online video games in Southeast Asia and the expansion of broadband connectivity in the region.
Technavio’s sample reports are free of charge and contain multiple sections of the report, such as the market size and forecast, drivers, challenges, trends, and more.
Some of the key topics covered in the report include:
- Market ecosystem
- Market characteristics
- Market segmentation analysis
- Market definition
- Market size and forecast
Five Forces Analysis
- Geographic comparison
- Key leading countries
- Landscape disruption
- Competitive scenario
- Vendors covered
- Vendor classification
- Market positioning of vendors
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