The global video game market size is expected to reach USD 317.17 Billion in 2028 and register a CAGR of 8.9% over the forecast period, according to the latest report by Reports and Data. Increase in per capita income, rise in interest in video games, and increase in usage of smartphones and consoles are key factors fueling market revenue growth. Games have become an important part of social and entertainment fabric in various countries across the globe and adoption of various gaming platforms is propelling market revenue growth.

Video game industry has witnessed a major surge in demand during the COVID-19 pandemic due to mandatory lockdown in many countries. People are turning to gaming platforms which are attracting more and more players in terms of online traffic. The pandemic has pushed at-home activities such as video games at the forefront of entertainment. Rise in community and social gaming, new console releases, and increase in launches of new hit titles are contributing significantly to growth of the market. However, increasing piracy and online fraud is a major factor restraining market growth.

Free to Play (F2P) games are a powerful way to drive profits in the market. With low barrier to entry, playing experience is improving at a rapid rate, and more people are joining, which makes purchased items more valuable and attractive to gamers. Games like Fortnite, Call of Duty: Warzone, and Candy Crush are example of games where players play for free at the start and then pay for boosters, extra lives, and strategic moves as their interest in the game becomes more gripping. Increase in live streaming trend and emergence of platforms like Twitch is also driving market growth. Development of handheld game consoles is another factor driving the demand for video games.

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Some of the key players operating in the Video Game market include:

Microsoft Corporation, Apple, Inc., Nintendo Co., Ltd., Activision Blizzard, Inc., Electronic Arts, Inc., Disney Consumer Products and Interactive Media, Inc., Lucid Games, Ltd., Valve Corporation, Sony Interactive Entertainment, Inc., and Ubisoft Entertainments S.A.

Segments covered in the report:

Device Outlook (Revenue, USD Billion; 2018–2028)

Console
Tablet
Smartphone
Computer
Others

Type Outlook (Revenue, USD Billion; 2018–2028)

Online
Offline

Application Outlook (Revenue, USD Billion; 2018–2028)

Action
Adventure
Shooter
Fighting
Racing
Sports
Others

End-use Outlook (Revenue, USD Billion; 2018–2028)

Residential
Commercial

On the basis of regional analysis, the market is segmented into key geographical regions such as North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. According to the analysis, North America is expected to dominate the market with the highest market share. Asia-Pacific is anticipated to show a significant growth rate owing to rising development and population demands.

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Beneficial Aspects of the Report:

Global and region forecast of the Video Game market from 2020-2027
In-depth analysis of market dynamics, industry outlook, market size based on types and applications
Details of value chain analysis, supply and demand ratio, production and consumption patterns
SWOT Analysis, Porter’s Five Forces Analysis, Feasibility Analysis, and Investment Return Analysis to provide a better understanding of the market and competitive players
Detailed insights on competitive landscape and emerging market trends

Research Methodology:

The market report is formulated on the basis of data obtained through extensive primary and secondary research. The data is further validated and verified by industry experts, research analysts, and professionals. The report considers regional demand and supply ratio, investments, market dynamics, capacity, end-use industry trends, and consumer behavior to generate a forecast report. The data is collected from verified sources such as government policies, regulatory published materials, journals, trade magazines, and verified data sources. The report uses advanced analytical tools such as SWOT Analysis, Porter’s Five Forces Analysis, Feasibility Analysis, and Investment Return Analysis to provide an accurate insight into the market scenario and competitive landscape. This report provides beneficial information to companies and new players to make lucrative business decisions. The market estimates and forecast data have been thoroughly verified through exhaustive primary research.

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