NEW YORK – The Gaming Market value is set to grow by USD 125.65 billion, progressing at a CAGR of 12% from 2020 to 2025, as per the latest report by Technavio. The integration of blockchain technology is notably driving market growth.
Moreover, the market is segmented by type (casual gaming and professional gaming), device (mobile gaming, console gaming, and PC gaming), platform (online and offline), and geography (APAC, North America, Europe, MEA, and South America).
Gaming Market 2021-2025: Driver
The integration of blockchain technology in the gaming industry is enabling players to trade in-game virtual assets with other competing players and facilitate peer-to-peer transactions. The technology is being adopted by several gaming companies and gaming console manufacturers. Microsoft recently announced its plan to roll out blockchain technology for Xbox. The integration of blockchain is expected to provide fast and secure payment networks and allow game developers to monetize their gaming services efficiently. The integration of blockchain technology will provide substantial growth opportunities for gaming companies during the forecast period, driving the growth of the gaming market size.
Gaming Market 2021-2025: Segmentation
- Type
- Casual Gaming
- Professional Gaming
- Device
- Mobile Gaming
- Console Gaming
- PC Gaming
- Platform
- Online
- Offline
The gaming market share growth by the casual gaming segment will be significant during the forecast period. The market for casual gaming is growing with the increasing adoption of mobile gaming. Most casual gamers prefer mobile devices over PCs and consoles because of easy access to the games. In addition, casual gamers play games online on their mobile devices, as it is easy for them to play games of their choice from anywhere at any time.
- Geography
- APAC
- North America
- Europe
- MEA
- South America
The 56% of the market’s growth will originate from APAC during the forecast period. China, Japan, and South Korea (Republic of Korea) are the key markets for gaming in APAC. Market growth in APAC will be faster than the growth of the market in other regions. The increasing penetration of e-sports in developing countries, such as Taiwan, Malaysia, and Singapore will facilitate the gaming market growth in APAC over the forecast period.
Gaming Market 2021-2025: Vendor Analysis
The report analyzes the market’s competitive landscape and offers information on several market vendors, including:
- Activision Blizzard Inc.
- Bandai Namco Holdings Inc.
- CyberAgent Inc.
- Electronic Arts Inc.
- GungHo Online Entertainment Inc.
- Microsoft Corp.
- NetEase Inc.
- Sony Corp.
- Tencent Holdings Ltd.
- The Walt Disney Co.
The gaming market is fragmented and the vendors are deploying growth strategies such as developing innovative products, solutions, and services to compete in the market.
Gaming Market 2021-2025: Key Highlights
- CAGR of the market during the forecast period 2021-2025
- Detailed information on factors that will assist gaming market growth during the next five years
- Estimation of the gaming market size and its contribution to the parent market
- Predictions on upcoming trends and changes in consumer behavior
- The growth of the gaming market
- Analysis of the market’s competitive landscape and detailed information on vendors
- Comprehensive details of factors that will challenge the growth of gaming market vendors
Source: Technavio
