Online Gaming Market 2021 Growth Statistics, Industry Share, Latest Trends, Overview, Business Plans, Cost Analysis, Revenue, Growth Drivers, Size and Forecast till 2026

Online Gaming Market report contains detailed information on factors influencing demand, growth, opportunities, challenges, and restraints. It provides detailed information about the structure and prospects for global and regional industries. In addition, the report includes data on research & development, new product launches, product responses from the global and local markets by leading players. The structured analysis offers a graphical representation and a diagrammatic breakdown of the Online Gaming Market by region.

The Online Gaming Market is estimated to grow at a CAGR of 10% during the forecast period 2020-2026. As per the analysis, the Global Online Gaming Market was analysed to reach $86.9 billion by the end of the year 2026.

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The Global Online Gaming Market was studied and analysed from various viewpoints considering different market determinants that include drivers, restraints, challenges, and market opportunities. Some of the market drivers are increasing number of internet users worldwide, cheap prices of smart devices and fast and reliable data speed.

The global online gaming market is segmented on the basis of Device Type, Gaming Type and Age Group. These market segments are further categorised into various sub-segments to study the market in detail.

COVID-19 Impact

The COVID-19 pandemic in 2019 engulfed the world. It caused a worldwide halt. The entire global economy was affected. In addition, many people have also lost their lives. Around 252,297,094 cases and 5,091,465 deaths have been reported worldwide so far for COVID-19. The pandemic spread to almost every country in the world. In most industries, the pandemic resulted in some form of loss. As a result of the pandemic, the Online Gaming Market also experienced a slowdown. Statista estimates that the Online Gaming Market total worldwide revenue stood at approximately US$ 3.94 trillion in 2019. In 2014, the Online Gaming Market generated revenues of US$ 5.4 trillion at a record high.

The degree of competition among prominent global companies has been developed by analyzing several leading competitors operating globally. In addition, specialist analysts examine various aspects of the Online Gaming Market, including market competition, market share, the most recent advancements in the industry, innovative product launches, partnerships, mergers, and acquisitions by leading companies.

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By Device Type

Mobile Devices

Digital Console

Computer

Others

By Gaming Type

Casual Gaming

MMO Gaming

Social Gaming

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By Aging Group

Below 18 Years

19-25 Years

26-35 Years

36-45 Years

Over 46 Years

On the basis of geographical segmentation, the global online gaming market is analysed across North America (U.S., Canada, and Mexico), Europe (UK, Germany, France, Italy, Turkey, and rest of Europe), Asia-Pacific (China, India, Australia & New Zealand, ASEAN and rest of Asia-pacific), and LAMEA (Latin America, the Middle East, and Africa). As per the analysis, the North American Online Gaming Market is dominating the global market in terms of the market revenue. Key factors driving the market growth in North America is high internet penetration in the U.S. which has led to the increased adoption of online games. According to International Telecommunication Union (ITU), North America has the highest internet user penetration rate of approximately 88% of the total population of North America in 2016.

However, the Asia Pacific region is expected to emerge as the fastest growing market. According to International Telecommunication Union, in Asia Pacific, about half of the global internet users are present that accounted for approximately 1.89 billion in March 2017. Furthermore, China has highest internet user base which was approximately 670 million internet users in the year 2017-the largest internet user base in Asia Pacific- which is contributing towards the growth of the Asia Pacific online gaming market.

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The research study of the global online gaming market includes in-depth company profiling along with strategical developments undertaken by the market players in the past few years. Some of the key players included in the research study are:

Valve

Konami

Sega

Ubisoft

Activision Blizzard

Sony Corp.

Microsoft

Tencent

Wargaming

Zynga

Giant Interactive

GungHo Online

NCSOFT

Riot Games

Fun Technologies

Playdom

Arkadium

King Digital Entertainment

Bwin Party Digital Entertainment

Electronics Arts

Gree

Peak Games

Others

The market players are adopting various competitive strategies to withhold the market position for the long-term in the global market. Regions with large population base and low-cast data have some lucrative opportunities for the market players to invest. Some of the competitive strategies are product launches, partnerships, joint ventures, collaborations, mergers and acquisitions and many more to get a competitive edge in the global marketplace of the online gaming.

What is the goal of the report?
• The market report presents the estimated size of the ICT market at the end of the forecast period. The report also examines historical and current market sizes.
• During the forecast period, the report analyzes the growth rate, market size, and market valuation.
• The report presents current trends in the industry and the future potential of the North America, Asia Pacific, Europe, Latin America, and the Middle East and Africa markets.
• The report offers a comprehensive view of the market based on geographic scope, market segmentation, and key player financial performance

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