Gaming, also known as video games or electronic games, refers to a computer application which is played with a certain set of rules. It involves mental or physical stimulation that provides entertainment and relaxation to the player or the spectators. Gaming is a powerful tool that can help children in developing certain life skills and can also aid the educators in seeking ways to supplement classroom teaching. The gaming sector has been revolutionized with the advent of advanced graphical engines and information technology. According to the latest report by IMARC Group, titled “Gaming Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2018-2023”, the global gaming market reached a value of US$ 98.5 Billion in 2017.
The increasing proliferation of mobile phones and easy availability of games on the internet along with innovations in both hardware and software are expected to have a positive impact on the growth of the global gaming market. In addition, the growing adoption of mobile and browser games which offer free-to-play business models is another trend that is gaining traction in the gaming market. Further, with the rising popularity of e-sports, multiplayer video game competition between professional and amateur players, the gaming market is witnessing an accelerated growth worldwide. Some of the other factors propelling the gaming market are empowering nature of games; availability of different genres, such as strategy, action, simulation, etc.; and a shift from physical games to online games. Looking forward, the global gaming market is projected to reach a value of US$ 171.7 Billion by 2023, expanding at a CAGR of around 10% during 2018-2023.
This report provides a deep insight into the global gaming market covering all its essential aspects. This ranges from macro overview of the market to micro details of the industry performance, recent trends, key market drivers and challenges, SWOT analysis, Porter’s five forces analysis, value chain analysis, etc. This report is a must-read for entrepreneurs, investors, researchers, consultants, business strategists, and all those who have any kind of stake or are planning to foray into the gaming market in any manner.
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