Due to multiple investments and growing prize pools, the spread of gaming platforms such as esports is increasing. And the widespread popularity of online games worldwide should promote the growth of the game market. The Game Market is expected to reach 398.95 billion U.S. dollars in 2026, higher than 2019’s 192.15 billion U.S. dollars, with a compound annual growth rate of 11.0% from 2021 to 2026.

The major factors that are driving the growth of the gaming market are:
● An increase in the adoption of internet services, as well as the easy availability of online games around the world, are likely to boost the growth of the gaming market.
● The adoption of different gaming platforms, like esports, is increasing due to various investments and a growing prize pool which in turn is expected to drive the growth of the gaming market.
● Game creators in the world of online gaming are constantly improving and innovating new technology in terms of real-time rendering of images, which will have an impact on the growth of the gaming market.
● Easy accessibility and competitive pricing of console gaming devices are also expected to further enhance the market growth.

It is expected that increased investment in the gaming industry will drive market growth. Companies that have invested heavily in the gaming market, will allow them to reach a wide audience through models such as Free to play. In addition, the increasing popularity of esports tournaments provides generous rewards for winners and attracts more and more people to participate.

The demand for mobile games is a direct result of many technological advancements in the market, such as AR, VR, and cloud games. Due to the growth of the mobile game market, large companies that make games for consoles and PCs are also releasing their games in mobile versions.

The Asia-Pacific region has been the world’s largest casino gaming country in recent years, it will continue to grow in the next few years. In 2017, the Asia-Pacific market accounted for approximately 46.94% of the global market, while North America and Europe accounted for approximately 24.85% and 21.78%, respectively. Related reports predict that by 2027, the market size of the video game industry will grow from US$109.61 billion in 2020 to US$156.76 billion, with a compound annual growth rate of 5.2% from 2021 to 2027.

The E-sports market is divided into the multiplayer online battle arena (MOBA), first-person shooter (FPS), real-time strategy (RTS), and professional, amateur, and different regional types. By 2026, the cloud gaming market is expected to reach 1091.6 million U.S. dollars, higher than 92 million U.S. dollars in 2019, and the compound annual growth rate from 2021 to 2026 is 41.9%.

Credits: PR Newswire