Video Games Market Is Poised To Flourish At A 13% CAGR By 2032

Posted on 2023-07-28 by Fact.MR in Retail // 0 Comments

Rockville, US, 2023-Jul-28 — /EPR Network/ —

The global market for video games reached a valuation of around US$ 170.53 Billion in 2021 and is slated to accelerate at a CAGR of 13% to top US$ 650 Billion by 2032. Developments in technology and continued innovation in both hardware and software to improve the real-time rendering of graphics are likely to drive the growth of the market throughout the conjecture period.

Fact.MR, in its latest business intelligence study, depicts the nuts and bolts of the global Video Games market. The report presents detailed information regarding the drivers, restraints, opportunities and trends affecting market growth.

Each segment along with its sub-segment is analyzed in terms of value and volume. Further, the report elaborates the market behavior of each vendor operating in the Video Games market.

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Key findings of the Video Games market study:

Regional breakdown of the Video Games market based on predefined taxonomy.
Innovative manufacturing processes implemented by Video Games vendors in detail.
Region-wise and country-wise fragmentation of the Video Games market to grasp the revenue, and growth outlook in these areas.
Changing preferences among consumers across various regions and countries.
Factors (Positive and Negative) impacting the growth of the global Video Games market.

Competitive Landscape

Prominent players are embracing innovative approaches such as ground-breaking marketing tactics, technological advancements, mergers, and acquisitions.

In January 2022, Microsoft Corp. announced plans to acquire Activision Blizzard Inc., a leader in game development and interactive entertainment content publisher. This acquisition will accelerate the growth in Microsoft’s gaming business across mobile, PC, console, and cloud and will provide building blocks for the metaverse.
In February 2022, Nintendo Co. Ltd continues its development expansion with the acquisition of long-time partner SRD. The deal is the latest step in Nintendo’s plan to expand its internal development capabilities.
In June 2021, Tencent announced the acquisition of 85% ownership of Supercell, the massively profitable Finnish firm behind the hit game Clash of Clans, for around US$ 8.6 Billion
In March 2021, Microsoft finalized its US $7.5 Billion deal to acquire ZeniMax Media, the parent company of Doom and Fallout studio Bethesda Softworks. The finalization comes just a day after Microsoft secured regulatory approval from the EU for the acquisition, and it will now bolster the company’s first-party Xbox games studios up to a total of 23.

Key Segments in Video Games Industry Research

By Game Type :
- Action
- Adventure
- Arcade
- Casual
- Children’s Entertainment
- Strategy
- Sports
- Shooter
- Role-Playing
- Racing
By Hardware :
- Handheld Console
- Static Console
- Video Gaming Accessories
By Physical Platform :
- Computer
- Console
By Digital Platform :
- Online
- Mobile/Tablet
- Handheld
- Virtual Reality
By Region :
- North America
- Latin America
- Europe
- Japan
- APEJ
- Middle East & Africa

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Queries addressed in the Video Games market report:

Why are the Video Games market players targeting region for increased product sales?
What patented technologies are the players utilizing in the global Video Games market?
Which regions are displaying the fastest growth in the Video Games market?
What are the underlying micro- macroeconomic factors affecting the global Video Games market?

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