The global online gaming market is expected to witness substantial growth over the forecast period. This may be attributed to the increasing number of users taking up online gaming as an entertainment tool. Furthermore, increasing consumer awareness towards interactive entertainment systems is also expected to drive the market demand. Availability of high-speed internet connectivity, efficient hardware compatibility, sophisticated gaming techniques, and increased consumer disposable income are some of the key factors driving the market. Technological advancements across the online gaming industry are expected to favorably impact market growth over the forecast period.
Regulatory shifts and the proliferation of smart devices are also expected to fuel market demand. However, a few government regulations banning online gambling may pose a threat to the online gaming market. The emergence of several groups such as Assurance (eCOGRA) and e-Commerce Online Gambling Regulation that oversee player protection, fair gaming, and responsible operator conduct are expected to provide avenues for market growth.
Asia Pacific is expected to exhibit high growth over the forecast period. North America is also expected to witness considerable growth over the next few years owing to the increasing penetration of online gaming across the social media platform. Manufacturers as a part of their growth strategy emphasize collaborating with several service providers in the market in addition, the need to address monetary issues pertaining to gaming taxes as well as additional compliance costs may lead to market consolidation with a limited number of multi-product operators. The online gaming market players include Bwin. Party, Electronics Arts, King, Gree, Fun Technologies, Peak Games, Playdom, and Arkadium.
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