TOKYO, 06 July 2022 (GLOBE NEWSWIRE) — The world online games market size was estimated at $56 billion in 2021 and will reach a market size of $132 billion by 2030, budding at a CAGR of 10.2%.
The growing number of gamers all over the world is the main driver for increasing revenue from the online gaming market. According to online gambling industry analysis, there were more than 2.6 billion gamers worldwide in 2020, and this figure was around 2.8 billion in 2021. Online gambling refers to any video game that allows players to interact with each other over the Internet. Online games can vary from simple text-based games to games with complex graphics and virtual worlds occupied by multiple players at the same time.
Impact of COVID-19 on Global Online Gaming Market Share
Because COVID-19 had shut down nearly the entire world, nearly half of the world’s population had become more involved in gaming. As businesses across the country have closed and economies have suffered an economic downturn, the gaming industry has remained busy. The online games market is driven by the growing number of games available on online stores. For example, there were a total of 80 billion games downloaded worldwide in 2020. According to our online games market forecast, as more people get involved in games, more revenue , especially long-term income, will be generated. However, replicating the level of growth achieved throughout the pandemic will be difficult, as it would require another similar global crisis.
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Online Gaming Market Report Coverage:
|Market||Global online gaming market|
|Size of the online games market in 2021||$56 billion|
|Online games market forecast by 2030||$132 billion|
|CAGR from 2022 to 2030||10.2%|
|Analysis period||2018 – 2030|
|Forecast data||2022 – 2030|
|Segments Covered||By type, by age group and by region|
|Regional scope||North America, Europe, Asia-Pacific, Latin America, Middle East and Africa|
|Profiled Key Companies||Bwin, Electronics Arts, GungHo Online, Giant Interactive, Gree, Tencent, King Digital Entertainment, NCSOFT, Sony Corp., Peak Games, Playdom, Riot Games and Zynga.|
|Report cover||Market Trends, Drivers, Restraints, Competitive Analysis, Player Profiling, Regulatory Analysis|
|Scope of customization||10 a.m. free customization and expert advice|
Online gaming market dynamics
The online gambling industry has grown rapidly in recent years due to improved internet access, falling prices of smartphones and computers, and increasing disposable income of the people. Moreover, the massive demand from young people across the globe to gamble, spend and earn money and fame is significantly supporting the growth of the online gambling market. The growing number of global leagues is an important and recent trend in the online gaming market that has fueled global demand. The large prize money, worldwide fame and massive sponsorship won by these events have aroused the interest of many young people, fueling their interest in gambling. As a result, the increasing number of online game streams is a new trend. in the online gaming industry. As online game streaming websites like Twitch continue to grow in popularity, content creators in the online gaming industry are gradually using YouTube to post pre-game recorded content to attract audiences.
The market is facing a downturn due to data security and privacy. Weak authentication, child identity theft and phishing are some of the major factors limiting the growth of the market. Additionally, in June 2020, UNICEF published a list of guidelines for the online gaming industry that are designed to inform and support online gaming companies as they incorporate human rights considerations. child in their business activities. This factor could also stabilize the booming value of the online gaming market.
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Segmentation of the online games market
The global market has been divided into three categories: type, age group and region. The segmentation is based on type and includes mobile games, free games, paid games, and paid games. The mobile gaming sub-segments accounted for a major share of the online gaming market. Gaming, especially mobile gaming, continues its phenomenal growth in the entertainment industry. According to our research, mobile games account for more than half of total gaming revenue. In addition, Asia-Pacific is the largest and fastest growing regional mobile games market.
Further, the age group segment is divided into under 10, 11-24, 25-44, and 45+. Among these, the age group of 11 to 24 years old has garnered a major share of the online gaming market as this age group is more involved in games due to better understanding of games and is ideal to learn and become a professional in their respective interest in games.
Regional Outlook of the Online Gaming Market
North America, Asia-Pacific, Europe, Latin America, Middle East and Africa are the regional classification of the online games market. In terms of market share, the Asia-Pacific region accounted for more than 50% of the market share in 2021. This is attributed to growing youth population base, increasing internet penetration, rise of the Chinese gaming industry and the presence of a large number of professionals. players in countries like China, Singapore, India, Indonesia, South Korea, etc.
In addition, North America and European countries are also witnessing significant growth due to increasing technological advancements, presence of well-established gaming infrastructure, and massive investments in the gaming industry.
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Players in the online gaming market
Some of the major online game companies covered in the industry include Bwin, Electronics Arts, GungHo Online, Giant Interactive, Gree, Tencent, King Digital Entertainment, NCSOFT, Sony Corp., Peak Games, Playdom, Riot Games, and Zynga.
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