Subscription-based Gaming Market Size Worth $ 24.1 Billion By 2030Posted by Neha Bora on March 1st, 2023 San Francisco, 1 March 2023: The Report Subscription-based Gaming Market Size, Share & Trends Analysis Report By Device Type (Smartphone, P.C., Console), By Gaming Genre (Action, Adventure), By Region, And Segment Forecasts, 2022 - 2030 The global subscription-based gaming market size is anticipated to reach USD 24.1 billion by 2030, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 12.8% from 2022 to 2030. The increasing adoption of various technological advancements such as AI-based rendering, the usage of big data, and the metaverse is expected to create growth opportunities for subscription-based gaming service providers in the global market. In April 2021, Facebook launched the Oculus Quest 2 standalone wireless virtual reality headset for USD 300, which had 50% more pixels than the previous model. Moreover, the market is witnessing a rise in popularity owing to factors such as the growth of the mobile gaming industry and the increase in penetration of high-speed internet. For instance, in 2022, according to a Gaming Spotlight 2022 report, mobile gaming accounted for USD 136 billion out of a total of USD 222 billion gaming market. The COVID-19 pandemic had a positive impact on the market. A global increase in COVID-19 cases slowed the economy, and many corporations were shutting down as a result of partial or total lockdown. However, despite the pandemic, video gaming firms continued to provide their services. The pandemic resulted in an increase in data usage globally, for instance, according to Verizon Networks data consumption for gaming purposes saw an increase during the pandemic. There was a 75% increase in data consumption from March 8 to 15 in 2020, which indicated that many people used gaming as a means to spend their time. The use of virtual private networks (VPNs) climbed by 34%, while online traffic increased by 20% and video bandwidth consumption by 12%. Access Research Report of Subscription-based Gaming Market @ https://www.grandviewresearch.com/industry-analysis/subscription-based-gaming-market-report Subscription-based Gaming Market Report Highlights
List of Key Players of Subscription-based Gaming Market
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