Global Digital Gaming Market Poised to Witness Outstanding Growth and Value to Reach US$323.91 Bn by 2023

Published on : Jul 17, 2018

Albany, New York, July 17, 2018: Globally, the rise in the popularity of gaming is partly due to the increased accessibility that the public has to them; at the tap of a screen, one can download games onto a smart device. Presently, Digital Games is one of most booming sectors of the Global Media and Entertainment Industry. Market Research Hub (MRH) has publicized a new study titled “Global Digital Gaming Market (2018-2023)” to its vast repository, which offers major insights, analysis, and valuable guidance on the prospects of the global digital gaming market. The report also incorporates imperative factors propelling the market expansion, untapped opportunities for key market participants, and trends & developments molding the market dynamics.

This precise study is a complete perspective on market development in terms of revenue estimations (in US$ Bn) across various geographies, comprising North America, Europe, Asia Pacific (APAC), Middle East & Africa (MEA) and Latin America. The regional analysis section is a crucial segment of the report, which enlightens the reader about the market scenario and trending factors influencing the market shares for each region. In addition, historical, current and forecasted market size data for PC games market, mobile games market and console games market.

Key Highlights from the Study

Digital gaming has become a new way of buying and playing games, and it comprises games played on PCs, Mobiles, and Consoles. According to the recent findings, the digital games market is expected to have a significant growth at a CAGR of 18.98% during the mentioned forecast period of 2018-2023, leading to a global digital gaming market size of USD 323.91 Bn by 2023.

Analysts find that the use of internet and smartphones is one of the primary requirements of video games market in the age of digital distribution of games. Thus, increased internet and smartphone penetration across the globe is driving the global digital games market. Although the digital gaming industry is forecasted to have a healthy growth globally, still, there is low internet speed and smartphone penetration in several regions of the world which hinders the growth of digital games.

In a bid to offer precise information, the study includes qualitative analysis of the key drivers and challenges affecting the Global Digital Gaming Market and its segmentation. There are some prime factors like improvement in global economic growth which provides consumers with more disposable income to spend on gaming and increase in the number of worldwide gamers which are continuously raising the demand for digital gaming across the globe. Major segments of digital gaming market include, by platforms, revenue models, and genres. Platforms include PC, Console, and Mobile. Based on revenue models, the study covers Freemium, Pay to play, and Advertising. On the other hand, by genres it covers shooter, role- play action, sports, strategy, and others. The report further adds that PC Games and Console Games hold significant portions of the global digital games revenues.

At last, the report also examines the competitive landscape in the global market and profiles some of the key players in this market in terms of company overview, company financials, strategy and recent developments. Key players functioning in the market include Take-Two Interactive, Activision Blizzard, Electronic Arts, and Ubisoft.

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