The growing digital gaming demand from the social, casual and core gamers, increase penetration of the portable gaming devices such as smartphones and tablets and preference for paymium and freemium subscription models are supporting the growth of the digital gaming market especially in the emerging markets of Asia Pacific, Middle East and Africa (MEA). Despite, certain factors like piracy, games utilizing lot of space and traditional systems not capable of supporting the AAA games may still impact the growth of the digital gaming market.
The Digital Gaming market is one of the rapidly growing market across the globe. The Digital Gaming market is expected to grow at a CAGR of 17.2% during the period of 2015-2020.The growth of gaming market is due to an increasing demand for the freemium subscription model and is expected to grow at a CAGR of 20.3% during the period of 2015-2020. The market is growing due to increasing in the use of smartphones and tablets for gaming. In addition, the growing audience of gaming especially youngsters is fostering the demand for the market.
One of the major trend in the market seen is integration of virtual technologies into the gaming. Nowadays, vendors are coming up the mobile gaming applications integrated with virtual technologies that will help the customer in offering easy controls. Moreover, Apple's new product was launched with the concept of virtual technologies that attracted all gadgets lovers to use it. However, the internet bandwidth and increasing government policies in some countries is impacting the growth of the market.
The Digital Gaming market is analysed in six regions - North America, Western Europe, Central Eastern Europe, Middle East & Africa, Latin America and Asia-Pacific. The Middle East & Africa (MEA) region is one of the emerging regions for the digital gaming market growth resulting in huge business investments from most of the players. MEA's digital gaming market is expected to grow at a CAGR of 25.4% during the period of 2015 to 2020. The vendors present in US are trying to capture the market for gaming in APAC as there is less competition present and there is an increase in the young population in countries such as Vietnam and India. Some of the players present in the market are Microsoft, Nintendo, Samsung, and Sony.
This study covers and analyses "Digital Gaming market" globally. Bringing out the complete key insights of this industry, this report aims to provide an opportunity for players to understand the latest trends, current market scenario, government initiative and technologies related to the market. In addition, helps the venture capitalist in understanding the companies better and take informed decisions.
According to the statistics available, the total global population in the year 2013 was 6.40 billion out of which 2.40 billion had access to the internet (online users) and 1.20 billion users are active gamers. Thus, these statistics clearly shows how much scope of growth is there for the digital gaming market space. Today, the gamers are preferring freemium model as it gives them freedom to play games for free, and play on the latest gaming versions and ease of playing the game from any of the game devices such as smartphones, smart TVs, tablets, pcs and game consoles.
Today, gaming platforms such as iOS and android are one of the popular gaming platform. The gamers prefer puzzles, casual, action and sports games on these platform. League of Legends, Counter strike, crossfire and candy crush are some of the popular digital games. Presently, more than 32% of the people in the age group of 18-35 years spend on an average 22 hours in a week on playing games. To attract the gamers and to maximize their gaming reach, the gaming platform providers provides attractive virtual gifts to the gamer in order to move into next level by inviting more people to the game.
Companies are supporting freemium model due to the increase demand from the gaming audience. In near future, lot many innovations such as virtual gaming will be seen in the digital gaming space and also, the games will be of low cost and high resolution with improved graphics. Thus, improving the gamer’s overall gaming experience.
The Global Digital gaming market is expected to grow at a CAGR of 17.2%during the period of 2015-2020, respectively. The gaming platform is estimated to grow at a CAGR of 22.9% followed by gaming devices which is estimated to grow at a CAGR of 21.2% during the forecasted period 2015-2020.
Featured Phones and Smartphones
Nintendo Co., Ltd.
Samsung Electronics Co Ltd
LG Electronics Inc.
Electronic Arts Inc. (EA)
King Digital Entertainment Plc
Sega Games Co. Ltd
International Business Machines Corp