Global Digital Gaming Market to Expand at 18.97% CAGR till 2022
According to a new Research on Global Markets report, the global digital gaming market is expected to be worth USD 272.2 Bn by 2022, expanding at a compound annual growth rate (CAGR) of 18.97% during the 2017-2022 period. The considerable expansion of the global digital gaming market is driven primarily by a rise in the number of active gamers across the world, increased Internet and smartphone penetration, and the emergence of new technologies that enhance gaming experiences.
The global digital gaming market is segmented based on platforms and revenue models. Based on platforms, mobile gaming currently holds the largest market share and is expected to sustain its growth trajectory till 2022, owing to low entry barriers for game developers, increased use of smartphones, and higher revenue from in-app purchases. In terms of revenue models, the freemium model is far more popular than the other revenue models as it occupied a 39% market share in 2017, according to the report.
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Research on Global Markets tracks the performance of the global digital gaming market across the key geographies of North America, Latin America, Europe, Asia-Pacific, and the Middle East and Africa. Asia-Pacific held the largest share of the digital gaming market in 2017, and the region is anticipated to sustain the growth during the forecast period. Technological advancements, coupled with rapid shift of consumers from 2G to 4G, have resulted in the increased consumption of digitally-downloadable gaming content.
Key highlights of this report:
- Global market overview - historical (2015-2017) and forecasted (2018-2023) market size (USD Bn), geography-wise market revenue (USD Bn), and market attractiveness analysis
- Qualitative analysis of the drivers and challenges affecting the global market
- Significant trends in the global digital gaming market
- Analysis of the competitive landscape and profiles of the major players operating in the market
- Market segmentation based on platforms (PC games, mobile games, and console games) - historical (2014-2016) and forecasted (2017-2022) market size (USD Bn), market observations, and influencing factors
- Market segmentation based on revenue models (freemium, pay to play, and advertising) - historical (2014-2016) and forecasted (2017-2022) market size (USD Bn), market observations, and influencing factors
- Market segmentation based on region (North America, Europe, Asia-Pacific, and the Middle East and Africa)
This report has been formulated and designed with the purpose of giving businesses a concise understanding of the demand for digital games across the world, to determine the viability of the market, develop strategies based on the drivers, and to help brands identify competition and respond accordingly.