The global market for video games reached a valuation of around US$ 170.53 Billion in 2021 and is slated to accelerate at a CAGR of 13% to top US$ 650 Billion by 2032. Developments in technology and continued innovation in both hardware and software to improve the real-time rendering of graphics are likely to drive the growth of the market throughout the conjecture period.
Mobile video games have gained high traction, capturing nearly 50% market share of the video gaming industry, while the immense popularity of the PlayStation has bolstered the market demand for gaming consoles.
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Prominent players are embracing innovative approaches such as ground-breaking marketing tactics, technological advancements, mergers, and acquisitions.
- In January 2022, Microsoft Corp. announced plans to acquire Activision Blizzard Inc., a leader in game development and interactive entertainment content publisher. This acquisition will accelerate the growth in Microsoft’s gaming business across mobile, PC, console, and cloud and will provide building blocks for the metaverse.
- In February 2022, Nintendo Co. Ltd continues its development expansion with the acquisition of long-time partner SRD. The deal is the latest step in Nintendo’s plan to expand its internal development capabilities.
- In June 2021, Tencent announced the acquisition of 85% ownership of Supercell, the massively profitable Finnish firm behind the hit game Clash of Clans, for around US$ 8.6 Billion
- In March 2021, Microsoft finalized its US $7.5 Billion deal to acquire ZeniMax Media, the parent company of Doom and Fallout studio Bethesda Softworks. The finalization comes just a day after Microsoft secured regulatory approval from the EU for the acquisition, and it will now bolster the company’s first-party Xbox games studios up to a total of 23.
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Key Companies Profiled
- Activision Blizzards Inc.
- Nintendo Co. Ltd.
- NVIDIA Corp.
- Sony Corp.
- Microsoft Corp.
- Electronic Arts Inc. (EA)
- Ubisoft Entertainment SA
- King Digital Entertainment Plc.
- Supercell Oy
- Take-Two Interactive
- Vivendi SE
- Konami Holdings Corporation
- Disney Interactive Studios
- THQ Nordic GmbH
- Sega Corporation
Key Segments in Video Games Industry Research
- By Game Type :
- Children’s Entertainment
- By Hardware :
- Handheld Console
- Static Console
- Video Gaming Accessories
- By Physical Platform :
- By Digital Platform :
- Virtual Reality
- By Region :
- North America
- Latin America
- Middle East & Africa
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Digital Experience Platform Market Analysis By Component (Platform & Services) By Deployment Type (On Premises & Cloud based Digital Experience Platform) By Vertical & By Region – Global Market Insights 2022-2032
Questionnaire answered in the Video Games Market report include:
- How the market for Video Games has grown?
- What is the present and future outlook of the global Video Games on the basis of region?
- What are the challenges and opportunities for the Video Games?
- Why the consumption of Video Games highest in region?
- In which year segment is expected to overtake segment?
What makes Fact.MR report stand out from others?
- Fact.MR follows a six-point mechanism known as E.V.O.L.V.E. (Evaluate. Visualize. Overcome. Leverage. Verify. Eradicate.). The report is specially created to assess the COVID-19 impact on the Video Games market. This mechanism focuses on almost all the factors in a definite manner to provide the best research report for the market stakeholders.
- Evaluate: A Fact.MR report evaluates every small aspect that can prove to be a growth generator for the Video Games market, thus, making it different and special from other reports.
- Visualize: The authors involved in the research activities visualized the post-COVID-19 era so that the key stakeholders of market get an overview and helps them take certain steps to ensure continuous growth during the forecast period.
- Overcome: The report scrutinizes on points that can prove to be an Achilles heel to the Video Games market and assists to create strategies to overcome the obstacles that may hinder the growth of the Video Games market.
- Leverage: The Video Games market can leverage certain aspects that can prove beneficial for the increase in growth rate. Fact.MR covers all the points on which the key stakeholders can leverage upon.
- Verify: Research is done systematically to assure validation of all the aspects covered in the report. All the points are rechecked and verified thoroughly to avoid flaws and fake information.
- Eradicate: Last but not the least, this aspect helps the key stakeholder eradicate all the obstacles that come between the growth rate and the Video Games market.
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