Global Gaming Market: Industry Analysis, Size, Growth, Share, Trends & Forecast 2011 - 2015
Albany, New York (PRWEB) September 17, 2014
In 2011, the global gaming market was worth $70.5 billion and is further expected to reach $117.9 billion in 2015, at a CAGR of 13.7% from 2011 to 2015.
- Global Gaming Market Overview
The use of 3D and 4D technologies in the world of gaming and console-gaming has increasingly become popular, along with the already dominant entertainment industry. The last few years have gained much popularity due to the use of 3D technology in the gaming industry. The availability of sophisticated gaming techniques, high speed internet connectivity, increased disposable incomes, and efficient hardware compatibility are some of the significant factors driving the growth in the gaming industry. Moreover, consumers are constantly looking for different ways of interactive entertainment right at their fingertips. Their interest has reflected into robust growth of this market. Such users range from the age group of 5 years to 45 years.
There is a broad scope for gaming technology to expand in the entertainment industry. With the advancement in technology, applications and opportunities in the gaming market have gradually increased. Major industries are now utilizing these technologies for many applications trying to grab majority of the shares on a global front.
Title: Global Gaming Market: Industry Analysis, Size, Growth, Share, Trends & Forecast 2011 - 2015
Published: 11 Sept 2012
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Gaming consists of specialized games or applications that are widely used for entertainment purposes. In addition, creative and innovative gaming techniques, including multiplayer online games and online role-playing games have rested new outlook to the overall market.
The research study on this market segment includes segmentation by type and geography.
- Market Segmentation
Gaming comprises different technologies and aspects like consoles, accessories, and software. The different types of electronic devices through which users can engage in the gaming activities include console, smart devices, and personal computers.
The market is segmented into two categories: hardware market and software market. In comparison to the hardware market, the software market holds maximum share in revenue generation. This share is closely followed by the growing revenues in the online gaming market.
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While the software market consists of new gaming software programs, the hardware market, on the other hand, is made up of various physical instruments such as PC's, gaming hardware tools, laptops, tablet consoles, mobile, and more. The online gaming segment is divided into mobile users and internet users, and the revenue generated for this market is estimated for the period 2011 to 2015, considering 2010 as the base year.
- Key Growth and Restraining Factors
Due to wide scope and demand for creative and interactive entertainment, most of the major market players such as Sony, Nintendo, and Microsoft have developed new technologies in the gaming sector in order to keep consumers engaged in this entertainment world. Due to the emergence of such players as well as new key participants like Apple, Disney Entertainment, Zynga, EA sports, and Ubisoft, the global market for gaming has grown tremendously. Also, many government initiatives provide greater penetration and accessibility to broadband internet facilities, in turn increasing the number of internet users and advanced gaming features.
Software game developers emphasize more on the non-core products by providing new services and valuable products. New and improved inputs on the online gaming concept also help to contribute to the growth of this market. Nevertheless, maturation of the technology, fraudulent gaming, and innovation in other entertainment markets pose as some restraining factors.
- Market - By regional Analysis
In terms of geographical distribution, the global gaming market is sectioned into four regions, namely: North America, Europe, Asia-Pacific and Rest of the World (RoW). Nonetheless, in the overall global market, Asia-Pacific is predicted as the fastest growing sector until 2015. Due to increasing number of internet users and availability of advanced gaming features in the market, the demand in this region is estimated to increase in years to come.
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