Gaming Market Size Moving Upwards to Hit USD 545.98 Billion - Technologies News

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Gaming Market Size Moving Upwards to Hit USD 545.98 Billion

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According to Fortune Business Insights™, the global gaming market size is expected to gain momentum by reaching USD 545.98 billion by 2028 while exhibiting a CAGR of 13.20 % between 2021 and 2028.

Therefore, The key players in the market are focusing on improvements and advancements to provide their users with premium quality games.

COVID-19 Impact

List of the Companies Profiled in the Global Gaming Market:

  • Microsoft Corporation (Redmond, Washington, United States)
  • Nintendo Co., Ltd (Kyoto, Japan)
  • Rovio Entertainment Corporation (Espoo, Finland)
  • Nvidia Corporation (California, United States)
  • Valve Corporation (Washington, United States)
  • PlayJam Ltd (London, United Kingdom)
  • Electronic Arts Inc (California, United States)
  • Sony Group Corporation (Tokyo, Japan)
  • Bandai Namco Holdings Inc (Tokyo, Japan)
  • Activision Blizzard, Inc (California, United States)

What does the Report Provide?

Driving Factor

Rising Cellular Subscription to Propel Market Growth

Moreover, the rising cellular subscription is also playing significant growth in spiking the demand for mobile games.

Regional Insights

Asia Pacific to Dominate Backed By Presence of Gaming Giants

The region’s revenue was USD 589.4 million in 2017.  The regional market stood at USD 86.96 billion in 2020.

A report by Ukie.Org. Uk suggested that in 2019 esports revenue in the UK was USD 76.53 million.

Market Segmentation:

Therefore, Based on the end-user, the male segment held a major gaming market share of about in 2020. In addition, This is attributable to the presence of a large number of games of their preference. Men usually like games that have action, battle games, racing, and sports.

Finally, based on region, the market is categorized into North America, Europe, Asia Pacific, South America, and the Middle East & Africa.

Competitive Landscape

Major Key Players Focus on Acquisitions to Strengthen Their Market Positions 

Key Industry Development

November 2020: Therefore, Sony launched Playstation 5 in North America, Australia, Japan, and New Zealand.

Regional Insights

Asia Pacific to Dominate Backed By Presence of Gaming Giants

The region’s revenue was USD 589.4 million in 2017.  The regional media market stood at USD 86.96 billion in 2020. Therefore,A report by Ukie.Org. Uk suggested that in 2019 esports revenue in the UK was USD 76.53 million.

Market Segmentation:

In addition, Based on the end-user, the male segment held a major gaming market share of about in 2020. This is attributable to the presence of a large number of games of their preference. Men usually like games that have action, battle games, racing, and sports.

Finally, based on region, the market is categorized into North America, Europe, Asia Pacific, South America, and the Middle East & Africa.

Regional Insights

Launch of Innovative Products to Foster Asia Pacific Market Growth

The Asia Pacific industry forecast will be strong on the back of the rollout of innovative products and services across China, Australia and India. Therefore, To illustrate, in June 2020, China was reported to have announced policies to establish Hainan Free Trade Port (Hainan FTP) on the southern coast. Besides, the government contemplates making Hainan FTP a globally renowned free trade port by 2050.

The U.S. and Canada are poised to bank on the growth of the tourism sector, travel spending has soared over the past few years. According to the U.S. Travel Association, U.S. domestic travel rose by 1.7% in 2019, with approximately 2.3 billion person trips compared to 2018.

Therefore, Canada is likely to play an invaluable role in fostering North America Duty Free Retail market growth. In addition, Canada Border Services Agency (CBSA) suggested that duty-free stores operate in around 53 locations across Canada, such as international airports and land border locations.

Stakeholders anticipate Europe to account for a considerable share of the global market due to the increasing footprint of luxury goods expenditure.

Therefore, Canada is likely to play an invaluable role in fostering North America Duty Free Retail market growth. Canada Border Services Agency (CBSA) suggested that duty-free stores operate in around 53 locations across Canada, such as international airports and land border locations.

Stakeholders anticipate Europe to account for a considerable share of the global market due to the increasing footprint of luxury goods expenditure.

Duty Free Retail will continue to receive an uptick with the increasing penetration of cigarettes and perfumes.

Browse Detailed Overview of This Research:

https://www.fortunebusinessinsights.com/gaming-market-105730

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