Global Video Games Market: Overview
The demand within the global video games market is expected to grow at an exhilarating pace. The propensity of the masses to consume video gaming as a sound entertainment avenue has intensified in recent times. Video gaming has become a cult for large groups of people who show immense enthusiasm in staying abreast with the latest gaming technologies. Marketing analysts believe that some of the video games have become so finely ingrained in the psychology of the masses that their life choices and decisions are influenced by gaming characters. Therefore, the growth of the global video games market has become a direct function of the obsession and enthusiasm of the masses towards various games.
In this review, Transparency Market Research (TMR) decodes the propensities and inclinations of gamers in order to gauge the dynamics of growth pertaining to the global video games market. The advent of video games can be traces back to over a couple of decades ago when Sega, Japan’s service games giant, made its foothold across global markets. The popularity of Sega and Samurai became a launch pad for other video game manufacturers to establish their footholds in the global market. The global video games market has matured has a formidable pace over the past decades. The development of new technologies in the domain of video game conceptualization has opened fresh avenues for market expansion. Video game manufacturers have not been daunted by the shocks of the pandemic as they have continued to advertise their products across digital channels.
For Right Perspective & Competitive Insights on Video Games Market, Request for a Sample
Global Video Games Market: Competitive Landscape
Several companies have joined the race for acquiring a larger consumer base than their competitor. However, despite the consolidated market landscape, the leading vendors have kept their footholds in the video games market intact. The popularity of Sony Corporation’s PlayStation across the globe is the most prominent trend pertaining to the competitive landscape of the global video games market. The launch of the new PlayStation 5 has sent ripples across the market as video game enthusiasts are swooning over the design and features of the new model. Therefore, Sony Corporation is expected to attract formidable revenues in the times to follow.
Several Chinese manufacturers of video games are gradually penetrating new territories. This has caused formidable disruptions across the global market, as Chinese video games are much lower in cost as against the competitors’ products. The popularity of Chinese video games in the Asian markets is expected to play a decisive role in defining the vendor landscape of the market. Some of the global vendors operating in the video games market are Rovio Entertainment Corporation, Nintendo Co., Ltd., NVIDIA Corporation, PlayJam Ltd., and Valve Corporation.
Global Video Games Market: Key Trends
The demand within the global video games market has grown alongside advancements in marketing initiatives by video game companies. Moreover, the past decade has witnessed a shift in human propensities as people become more lethargic and home-ridden. This has led the masses to look for indoor means of recreation, bringing video games under the radar of attention. The coronavirus pandemic has also caused a rapid shift in the lifestyles of the masses. Mass lockdowns and minimal social interactions have led people to buy video games with greater conviction. Video game companies have used this time to popularise their products, and position their benefits for the masses in helping them stay indoors. Therefore, the global video games market is expected to witness ballooning growth in the months to follow.
Are you a start-up willing to make it big in business? Grab an exclusive PDF Brochure for this report
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.