Gaming market to reach $162.8 Billion by 2024: Ameri Research Inc.
18th April 2017, Florida – The global gaming market size worth USD 162.8 Billion by 2024, growing at a CAGR of 6.4% over the period of 2017 to 2024 according to a new research study published by Ameri Research. The advent of mobile games coupled with growing portable consumer electronics penetration primarily across the developing economies of Asia Pacific and Latin America is a major factor driving market growth over the forecast period.
Leading media companies including Fox Sports, ESPN, BBC, Sky Sports and Yahoo among many others are increasingly emphasizing on the development of efficient e-sports platforms in an attempt to embrace the aging audience and around traditional sports. Companies realize the importance of gaming viewership which instigates them to lay prime focus on the development of innovative mobile and PC games.
Development of technically advanced products such as Virtual Reality (VR) to enhance the consumers’ gaming experience is another factor driving market growth significantly over the forecast period. Asia Pacific accounted for the majority revenue share in 2016 which is ascribed to the increasing mobile devices penetration coupled with large presence of mobile game adopters in the region.
Click the link below to view the report description: –https://www.ameriresearch.com/product/gaming-market-outlook-2024
Key findings from the study: –
- TV game console emerged as the dominant type segment in 2016 accounting for over 30% of the overall revenue share in the same year. However, smartphone type segment is expected to exhibit highest growth over the forecast period owing to increasing popularity of mobile games worldwide.
- Hardcore gamers accounted for the majority market share in 2016 owing to the elevating adoption of multiplayer games. Nevertheless, casual gamers segment is anticipated to exhibit promising outlook over the coming years primarily ascribing to the advent of mobile games.
- Asia Pacific held majority revenue share in 2016 predominantly on account of snowballing penetration of mobile devices in the region resulting in increasing adoption of mobile games. However, Latin America is estimated to emerge as the fastest growing regional market over the next few years due to rising popularity of virtual transaction games in the region.
- Prominent industry participants include Sony, Nintendo, Apple, Google, Microsoft Studios, Facebook and Sega. The industry is witnessing increasing number of large gaming companies collaborating among each other or small gaming companies in order to increase their global presence and prevail in this highly competitive environment.
Ameri Research has segmented the Global Gaming Market on the basis of type, gamers and region:
Gaming Market by Type (Revenue, USD Billion)
- Online Games
- Handheld Gaming
- Boxed PCs
- TV Game Consoles
Gaming Market by Gamers (Revenue, USD Billion)
Gaming Market by Region (Revenue, USD Billion)
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
- Saudi Arabia
Company Name: Ameri Research Inc
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