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Growth Opportunities in the Global Video Gaming Market
Growth Opportunities in the Global Video Gaming Market
Rise of Social Gaming and New Technologies Reshape Future Growth Potential
28-Jun-2023
Global
Description
This study covers the global market for video gaming services.
Gaming services allow users to play video games by interacting with an interface to get visual feedback.
The scope of this study includes gaming solutions offered by providers, such as hardware gaming consoles and software (video games) offered in three types of platforms: consoles, PCs, and mobile devices.
This study covers both online and offline gaming experiences, both cloud gaming and streaming gaming services are part of the analysis.
The global video gaming market showed high growth years prior to the COVID-19 pandemic (from 10 to 15% every year). With the global economy slowing down and the market reaching its natural limits, Frost & Sullivan expects to see more modest yet steady mid-single-digit growth rates in the forecast period.
Revenue in the video gaming market is expected to bounce back from a decline in 2022 and stabilize growth to a compound annual growth rate (CAGR) of 4.5% from 2022 to 2029 in terms of revenue, driven by the recovery of disposable income and the increasing penetration of mobile devices.
Frost & Sullivan expects the global video gaming market to grow from $206.6 billion in 2022 to $280.65 billion in 2029. The expansion of internet connections, the growing penetration of mobile devices, the rise of social gaming, the growth of esports, cloud gaming's spread, and extended reality (XR) development are some of the main drivers that will help the market grow.
Primary and secondary information, in conjunction with internal information databases, have been used to analyze the market and provide observations and conclusions in this study.
Frost & Sullivan expects that this analysis will provide video gaming companies with valuable insights to increase their footprint and penetration opportunities within the evolving video gaming market.
RESEARCH: INFOGRAPHIC
This infographic presents a brief overview of the research, and highlights the key topics discussed in it.Click image to view it in full size
Table of Contents
Why is it Increasingly Difficult to Grow?
The Strategic Imperative 8™
The Impact of the Top 3 Strategic Imperatives on the Global Video Gaming Industry
Growth Opportunities Fuel the Growth Pipeline Engine™
Scope of Analysis
Scope of Analysis (continued)
Definitions
Definitions (continued)
Definitions (continued)
Market Segmentation by Platform
Key Competitors
Growth Metrics
Growth Drivers
Growth Driver Analysis
Growth Driver Analysis (continued)
Growth Restraints
Growth Restraint Analysis
Growth Restraint Analysis (continued)
Forecast Assumptions
Forecast Assumptions (continued)
Revenue Forecast—Video Gaming Market
Revenue Forecast—Mobile Gaming
Revenue Forecast—PC Gaming
Revenue Forecast—Console Gaming
Revenue Forecast by Technology Type—Console Gaming
Revenue Forecast by Platform—Mobile/PC/Console
Percent Revenue by Region—Video Gaming
Revenue Forecast Analysis
Revenue Forecast Analysis (continued)
Revenue Analysis by Region
Pricing Trends and Forecast Analysis
Pricing Trends and Forecast Analysis (continued)
Competitive Environment
Key Participants in the Video Gaming Landscape
Key Participants in the Video Gaming Landscape (continued)
Key Participants in the Video Gaming Landscape (continued)
Key Participants in the Video Gaming Landscape (continued)
Growth Opportunities
Growth Opportunity 1—Offering Games on Top of Digital Media Platforms
Growth Opportunity 1—Offering Games on Top of Digital Media Platforms (continued)
Growth Opportunity 2—Boosting In-Game Cosmetics
Growth Opportunity 2—Boosting In-Game Cosmetics (continued)
Growth Opportunity 3—Developing XR Games
Growth Opportunity 3—Developing XR Games (continued)
Growth Opportunity 4—Leveraging Generative AI to Accelerate Innovation
Growth Opportunity 4—Leveraging Generative AI to Accelerate Innovation (continued)
Growth Opportunity 5—Investing in Cloud Gaming
Growth Opportunity 5—Investing in Cloud Gaming (continued)
Growth Opportunity 6—Expanding In-game Advertising in Console and PC Games
Growth Opportunity 6—Expanding In-game Advertising in Console and PC Games (continued)
Growth Opportunity 7—Growing Esports Participation
Growth Opportunity 7—Growing Esports Participation (continued)
Growth Opportunity 8—Incorporating Wider Range of Identities
Growth Opportunity 8—Incorporating Wider Range of Identities (continued)
Your Next Steps
Why Frost, Why Now?
List of Exhibits
Legal Disclaimer
Popular Topics
| Author | Franco Bernasconi |
|---|---|
| Industries | Entertainment and Media |
| No Index | No |
| Is Prebook | No |
| Keyword 1 | video game market research |
| Keyword 2 | video game industry |
| Keyword 3 | gaming industry growth |
| Podcast | No |
| WIP Number | K8D8-01-00-00-00 |