Gaming Market by Platform, Type, Device, and Geography - Global Forecast and Analysis 2019-2023
Global Gaming Market: About this market
Technavio’s gaming market analysis considers sales from both casual gaming and professional gaming types. Our analysis also considers the sales of gaming in APAC, Europe, North America, South America, and MEA. In 2018, the casual gaming segment had a significant market share, and this trend is expected to continue over the forecast period. Factors such as the increasing adoption of mobile gaming will play a significant role in the casual gaming segment to maintain its market position. Also, our global gaming market report looks at factors such as the growing adoption of AR and VR games, the rising popularity of e-sports, and integration of blockchain technology. However, regulation over loot box, increasing risk of cybercrime through online gaming, and change in government regulations on net neutrality may hamper the growth of the gaming industry over the forecast period.
Global Gaming Market: Overview
Integration of blockchain technology
The integration of blockchain technology in gaming solution enables players to trade in-game virtual assets through contracts with other competing players and allows peer-to-peer transactions that can be accessed by anyone in the blockchain. The integration of blockchain technology also provides decentralized asset exchange, verifiable scarcity of virtual objects, fast and secure payment networks, and can enable game service providers or game developers to monetize their gaming services. Thus, it is expected that the integration of blockchain technology will lead to the expansion of the global gaming market at a CAGR of over 10% during the forecast period.
Growth in free-to-play model
Free-to-play model, also called a freemium model, provides an opportunity for gaming service providers to promote their games. This model allows users to play games in exchange for virtual goods and currencies. In some instances, users spend real money to purchase virtual products, such as coins, magic wands, houses, guns, and swords, in video games. The free-to-play model aims to convert free users to premium paid users by limiting the access up to a certain game level. Gaming service providers can monetize their services by providing access to many freemium games via social media and mobile platforms. This helps game service providers to increase their revenues, which will drive the growth of the global gaming market.
For the detailed list of factors that will drive the global gaming market during the forecast period 2019-2023, click here.
With the presence of a few major players, the global gaming market is concentrated. Technavio’s robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of a few leading gaming manufacturers, that include Activision Blizzard Inc., Bandai Namco Entertainment Inc., CyberAgent Inc., Electronic Arts Inc., GungHo Online Entertainment Inc., Microsoft Corp., NetEase Inc., Sony Corp., Tencent Holdings Ltd., and The Walt Disney Co.
Also, the gaming market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage on all forthcoming growth opportunities.
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