Global $264.9 Bn Digital Gaming Market 2018-2019 & 2023: Increased Proliferation of Smartphones and Tablets Driving Growth - ResearchAndMarkets.com
DUBLIN--(BUSINESS WIRE)--Apr 10, 2019--The “Global Digital Gaming Market (2018-2023)” report has been added to ResearchAndMarkets.com’s offering.
The global digital gaming market is projected to expand at a CAGR of 15.7% and is expected to be worth $264.9 billion by 2023
The increased proliferation of smartphones and tablets is providing considerable push to the gaming market globally. Also, the improvement in technology and the ease of access to internet connectivity have given an impetus to live games of MMO and eSports genres. The gaming companies are increasingly preferring digital distribution channels over physical distribution channels, as digital distribution allows easy purchase and downloading of digital content for different gaming platforms.
The various platforms used for gaming are PC, mobile, and console. The mobile platform is expected to grow at the highest CAGR of 23.1% during the 2018-2023 period, leading to a global revenue generation of $165.3 billion by 2023. The growth in mobile gaming can be attributed to the ease in use of mobile phones and the affordability of the feature-rich smartphones coupled with a reasonably good internet connection in most of the regions across the globe.
Over the years, the gamers realized the convenience that mobile gaming offers over the console and PC games, leading to its wide adoption. While mobile gaming is gaining popularity, PC gaming is expected to decline in the years to come and will have an estimated market share of only 11.0% by 2023.
The digital gaming market in North America is expected to grow at a CAGR of 14.6% during the 2018-2023 period. Events such as eSports in the US is backed by astounding internet connectivity in the region. Asia-Pacific is the leading contributor to the global digital gaming market. It is expected to contribute $137.8 billion by 2023. Additionally, the Asia-Pacific region will witness the highest CAGR of 17.5% during the forecast period of 2018-2023.
The key countries contributing to APAC’s humongous revenue are China, South Korea, Japan, and India. The revenue contribution by Latin America is expected to be $6.9 billion by 2023. Both Sony and Microsoft have programs for their console markets in Latin America that are open to independent developers and small studios, which in turn is strengthening the console gaming in the region. The EMEA region is expected to capture a market share of 22.0% by 2023. The VR gaming segment is one of the most competitive spaces of gaming in Europe.
Key Topics Covered:
Chapter 1: Executive summary
Chapter 2: Global digital gaming - market introduction
2.1. Key questions answered in this study
2.2. Market scope and segmentation
2.3. Market definitions - different business models
2.4. Market definitions - based on platform
Chapter 3: Global digital gaming market - overview
3.1. Global market overview - historical (2015-2017) and forecasted (2018-2023) market size (USD Bn), geography-wise market revenue (USD Bn), and market attractiveness analysis
3.2. Global market trends
3.3. Global market drivers and challenges
3.5. Distribution channel analysis
3.5. Opportunity areas
Chapter 4: Global digital gaming market - based on regions
Chapter 5: Global digital gaming market - based on platform
5.1. PC gaming
5.2. Mobile gaming
5.3. Console gaming
Chapter 6: Major platforms - based on regions
Chapter 7: Competitive landscape
- Activision Blizzard
- Electronic Arts
- GungHo Online
- Microsoft Corporation
- Sony Corporation
- Take Two Interactive
For more information about this report visit https://www.researchandmarkets.com/r/hs28go
View source version on businesswire.com:https://www.businesswire.com/news/home/20190410005410/en/
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INDUSTRY KEYWORD: ENTERTAINMENT ELECTRONIC GAMES
SOURCE: Research and Markets
Copyright Business Wire 2019.
PUB: 04/10/2019 05:53 AM/DISC: 04/10/2019 05:53 AM