Video Games Market Size, Trends and Cost with Global Forecast by 2022
Posted by faisal on October 28th, 2019
Competitive video games have become an integral part of computer users, penetrating urban cultures across all parts of the world. Easy development of open-ended games, instant profits, and in-game purchases continue to translate robust business growth for video game developers. However, social impact of role-playing games and increasing exposure of violent graphics among young gamers is expected to curb the demand for video games, to a considerable extent.
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The Fact.MR report on global video games market offers a detailed forecast on how the market will expand at a sluggish pace, bringing in close to US$ 140 Bn during the forecast period, 2017-2022. Following insights will offer a predicted road map on how the global video games market will expand through 2022.
Key Market Projections
According to the report, by the end of 2017, nearly one-third of video games sold in the world will be action & fighting games. However, towards the end of forecast period, action video games are expected to witness a sluggish growth owing to increasing concerns of violent games influencing the mindset of young generations. Sport games will also remain a top-seller in the global video games market, creating over US$ 3.8 Bn incremental opportunity between 2017 and 2022.
In Asia-Pacific excluding Japan (APEJ) region, a majority of video game sales are influenced by the penetrating trend of multi-player user dungeons (MUDs). Moreover, consumers in the APEJ region are growing more inclined towards interactive games available through smartphone applications. By the end of 2022, the video games market in APEJ region is expected to surpass US$ 34 Bn in value.
North America is anticipated to remain the largest market for video games through 2022. Prevalence of digital platforms such as gaming consoles, smartphones and portable media devices has propelled the use of video games in the US and Canada. Growing inclination of North American gamers towards advanced user interface technologies such as Virtual Reality (VR) is influencing the future strategies of video game developers.
Handheld gaming devices will remain the sought-after hardware for video games in the future. Procuring more than two-fifth of the global revenue share, global sales of this key video gaming hardware – handheld consoles – will bring in more close to US$ 60 Bn revenues by the end of 2022. During the forecast period, global sales of static consoles are expected to gain relatively higher traction, compared to handheld consoles.
On the basis of physical platforms, console games will continue to dominate the global video games market, particularly due to enhanced user engagement offered by console games. Computers, correspondingly, will also remain a great physical dais for playing video games, especially for their compatibility with multiple video game developers. The report also projects that nearly one-fourth of video game revenues procured in the global market will be accounted by the digital platform – PC (personal computers). Console games, again, will be a dominant segment in terms of digital platforms, procuring close to US$ 100 Bn revenues by 2022-end.
The report has also profiled leading developers of video games, outlining the companies that will remain active in expansion of global video game market through 2022. These companies include Nintendo Co. Ltd., Sony Corporation, Electronic Arts Inc., Disney Interactive Studios (The Walt Disney Company), Activision Blizzards Inc., NVIDIA Corporation, King Digital Entertainment Plc., Microsoft Corporation, Vivendi SA, Ubisoft Entertainment SA, Supercell Oy, Take-Two Interactive Software Inc., Konami Holdings Corporation, THQ Nordic (Nordic Games GmbH), Zynga Inc., and Sega Games Co., Ltd.
About the Authorfaisal
Joined: October 9th, 2019
Articles Posted: 1,546
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