The world of gaming has evolved dramatically over the past few decades, providing gamers an enriching and addictive experience with every little change. According to a report, about 150 million American enjoy playing video games, out of which 42% play video games on a daily basis. Statistics show that a gamer’s average age is 35, while 74% are around 18 years of age or older. Female gamers, too, make up a huge chunk of the gaming population, accounting for a share of about 44%. With such huge numbers driving the global gaming industry, it is only natural that it treads a path of success.
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The report on the global gaming market provides an overview of the drivers, restraints, opportunities, and threats existing in this market. With the help of a SWOT analysis and a Porter’s five forces analysis, the report helps in evaluating the global gaming market thoroughly. It also provides an insight into the market’s competitive overview, market attractiveness analysis, and representation of key players’ market shares. Furthermore, the report also assesses the growth trajectory of the global gaming market by evaluating its historical data in light of current trends.
The global gaming market has been valued at US$70.5 bn in 2011 and is expected to reach a figure of US$117.9 bn by 2015. During this span, the market is expected to expand at a CAGR of 13.7%.
Growth of the global gaming market will mainly be attributable to the huge population base that is seeking gaming activities as a source of entertainment and recreation. This market experienced a downturn in the economic recession of 2008. However, it has picked up pace with rising disposable incomes, the growing number of gamers within the age bracket of 5 years to 45 years, and increasing Internet penetration all over the world. Additionally, as games become an indispensable part of every device such as smartphones, laptops, and tablets, they are empowering and encouraging consumers to be a part of the booming gaming culture across the globe.
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The global gaming market has been segmented on the basis of types and geography. The types of products in the gaming market are gaming hardware, gaming software, and online gaming. Gaming hardware is further sub-segmented into video game handheld and accessories and videogame console and accessories. On the other hand, gaming software is sub-segmented into gaming development tool software, video game console software, personal computer gaming software, mobile gaming software, and video game handheld software. Furthermore, the online gaming segment includes sub-segments such as mobile users and Internet users. Geographically, this market is spread over regions such as Asia Pacific, Europe, North America, and Rest of the World.
One of the biggest gaming markets in the world is the U.K. The U.S. follows the U.K. closely. However, market research analysts predict that Asia Pacific will create the next big wave in the gaming market by offering it a huge number of opportunities in the near future.