Published: Nov, 2016
The global gaming market is dominated by players such as Nintendo, Sony, EA Sports, Apple, Ubisoft, Disney Entertainment, Viacom, and Microsoft. These players have mainly benefited from the diversity of their product catalogs, which has ensured a steady influx of revenue from various user demographics. These players have also been at the forefront of adopting the latest technological advances into their designs, which has also helped their initiation into the overall gaming industry.
According to Transparency Market Research (TMR), the global gaming market had an estimated overall valuation of US$118 bn in 2015.
U.K. to Remain Leading Contributor to Global Gaming Market
Geographically, the global gaming market is led by North America and Europe due to the easier availability of the latest releases in the gaming market as well as the latest advances in computing and graphics design. The U.K. was the leading contributor to the global gaming market in 2015 and is likely to remain among the key regional gaming markets in the coming years. The U.S. is the prime contributor to the North America gaming market and is expected to remain a dominant regional segment of the global market in the coming years.
The demand for gaming hardware as well as software is rising steadily in Asia Pacific, where rapid urbanization and steady adoption of the Western culture have generated a user base with increasing disposable income and awareness about gaming. Asia Pacific is likely to remain a key gaming market in the coming years due to the rising prosperity of consumers in countries such as Japan, India, China, South Korea, and Taiwan.
Widespread Installation of Broadband Infrastructure Enables Growth of Wireless Gaming
One of the key drivers for the global gaming market is the rising availability of broadband Internet in developing regions such as Asia Pacific. This has enabled a steady rise in the gaming market in the high-volume market, as players can experience the gameplay of online games, a highly popular category of games, better with a high-speed Internet connection. The government support for the development of the telecommunications industry has thus indirectly become a crucial driver for the global gaming market.
The rising disposable income of consumers in emerging regions has also driven the demand for gaming hardware such as consoles. The steady technological advancement of gaming console lines such as Sony’s PlayStation and Microsoft’s Xbox has made them increasingly lucrative and kept them in line with the contemporaneous technological framework. “The highly refined design of modern smartphones and other portable consumer electronics has also benefited the global gaming market, as mobile gaming has become a highly convenient alternative to PC gaming,” says TMR’s lead analyst.
The innovative and dynamic pricing structure of the gaming market is another key driver for the global gaming market. Due to the prevalence of spec-heavy smartphones, many game developers have adopted an ad-based revenue model. While this won’t have a notable impact on the demand for PC games, due to the inherently superior display and graphics design in PCs, it has expanded the reach of the global gaming market significantly. However, this has also caused problems for the global gaming market, as numerous cases of fraud have harmed the reputation of the industry.
The information in this preview comes from a Transparency Market Research report titled ‘Gaming Market - Global Industry Analysis, Size, Growth, Share & Forecast 2011 - 2015.’
The global gaming market is segmented as follows:
Gaming market, by type
- Gaming hardware
- Video game handheld and accessories
- Video game console and accessories
- Gaming software
- Video game console software
- Gaming development tool software
- Personal computer (PC) gaming software
- Mobile gaming software
- Video game handheld software
- Online gaming
- Internet users
- Mobile users
Gaming market, by Geography
- North America
- Asia Pacific
- Rest of the World
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