At the outset, games were limited to board games and associated video games. The advent and popularity of computers and electronic devices led to development and commercialization of gaming. Technological advancements in hardware as well as software are expected to be the key driving force for the market. Ready availability of games on the Internet coupled with increasing penetration of Internet services on a global level are also expected to be favorable for market growth in the coming years. Copyright and piracy issues, along with concerns of fraud during gaming transactions are expected to be negatively impact the industry over the forecast period.
Gradual shift from physical games to online games has resulted in market participants aiming to achieve hardware compatibility and efficiency. Multiplayer and massively multiplayer online games have steadily gained popularity, a trend which is expected to continue over the next few years. A significant percentage of the population also uses social networking sites such as Facebook to play games, thus driving the market. A number of companies offer consoles that support a spectrum of games, ranging from casual games to hardcore games. Gaming software, which includes video games console software, PC gaming software, gaming development tools, etc. was the largest market segment in 2012. However, it is expected to lose market share over the forecast period. Online gaming is expected to gain considerable market share over the next few years and is expected to be the fastest growing segment.
Rest of the World (RoW) is expected to witness growth and gain market share over the forecast period. North America is expected to continue accounting for the largest market share in the coming years due to high adaptation of gaming products in the U.S. High demand for online gaming and consoles such as Sony Computer Entertainment’s PlayStation, Microsoft Xbox, and Nintendo Wii is expected to provide impetus to the market in this region. Other key companies participating in the global market include Apple, Inc., EA Sports, Zynga, Ubisoft, Activision Blizzard, Disney Entertainment, Viacom, etc.
Grand View’s market research study takes a closer look at the gaming industry, providing a holistic perspective on market dynamics, trends, supply and demand. Our report deep-dives into the market and segments it on multiple levels and providing key insights on a macro as well as micro level. The study aims at providing granular information, regarding estimates and forecasts for key segments including gaming hardware, software, and infrastructure with yearly forecast up to 2020. The report also provides the same level of information for key regional markets.
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