Rise in Online Gaming Drives the Global Market for Video Games, According to New Report by Global Industry Analysts, Inc.
San Jose, California (PRWEB) May 07, 2014 -- Follow us on LinkedIn – Video games, over the years, have revolutionized the concept of entertainment. Games have evolved from simple linear programming for DOS-based games to advanced interactive, dramatic, and artistic game experiences with spectacular visual effects and exciting color formats. Video Games are today a part of the mainstream media and entertainment sector. The market has gathered critical mass both in terms of game varieties, and player base largely as a result of untiring game innovation, feature and performance improvement. Continuous technology developments and upgrade of gaming platforms have helped expand the base of video gamers from the young to the older and mature individuals. The market, over the years, has witnessed a fascinating transition from single console gaming to multi-control home consoles to the state-of-the-art online and wireless gaming. Massively multiplayer online role-playing games (MMORPG) currently allow dynamic play between multiple players at the same time. Social interactivity in gaming is also growing in prominence.
Across the world, over the last decade, there has been a spurt in willingness among online gamers to pay for a superior gaming experience. With the online gamer audience diversifying across all age groups and social sectors, coupled with new business models, and introduction of new genres of online games, the revenue mix in the video games is shifting towards online games. Growth in online gaming is largely benefiting from continued innovation in Internet technology and development of the World Wide Web. Online gaming companies are increasingly leveraging the benefits of social networking sites and gamer communities to heighten player engagement. Social networking features in MMOGs (Massive Multiplayer Online Games) will help vendors and game service providers to consolidate the loyalty and interest of gamers against a backdrop of growing competition from free-to-play online games.
MMOGs and Arcade video games continue to hold considerable market share in the global video games market. The success of 3G/4G networks and the ensuing easy access to high-speed and high bandwidth broadband internet has been encouraging adoption of online gaming. Spiraling sales of smartphones and tablet phones is resulting in the skyrocketing popularity of wireless games. In the console video games software market, sequels to highly successful game titles is forecast to sustain demand momentum. With increasing number of women taking to video games, game developers are focusing on the development of games designed to appeal to young girls and women. MMORPGs are especially popular among women gamers aged over 30 years. The average female MMORPG gamers spend more time online compared to their male counterparts.
As stated by the new market research report on Video Games, Asia-Pacific represents the largest as well as the fastest growing market worldwide with a CAGR of 10.7% over the analysis period. Huge population, rising disposable incomes, growing consumer affluence, improving broadband penetration, widespread use of mobile internet, spiraling sales of mobile web enabled devices represent key growth drivers in the region.
Major players covered in the report include Activision Blizzard Inc., Atari Inc., Capcom Co. Ltd., Eidos Plc, Electronic Arts Inc., iWin Inc, Konami Corporation, Konami Digital Entertainment Co. Ltd., Konami Gaming Inc., Microsoft Corporation, Namco Bandai Games America Inc., Namco Bandai Holdings Inc., Nintendo Co. Ltd., PopCap Games, Rockstar Games Inc., Sega Corporation, Sony Computer Entertainment America Inc., Square Enix Holdings Co. Ltd, Take 2 Interactive Software Inc., Tetris Holding LLC, Ubi Soft Entertainment S.A and WMS Industries Incorporated.
The research report titled “Video Games: A Global Strategic Business Report” announced by Global Industry Analysts Inc., provides a comprehensive review of market trends, issues, drivers, mergers, acquisitions and other strategic industry activities of major companies worldwide. The report provides market estimates and projections for all major geographic markets including the US, Canada, Japan, Europe (France, Germany, Italy, UK, Spain, Russia and Rest of Europe), Asia-Pacific (Australia, China, South Korea and Rest of Asia-Pacific), the Middle East and Latin America (Brazil, Mexico and Rest of Latin America). Key segments analyzed in the report include Console Games Software, Handheld Games Software, PC Games (Digital and Boxed) Software, Online Games and Wireless Games Software.
For more details about this comprehensive market research report, please visit http://www.strategyr.com/Video_Games_Market_Report.asp.
About Global Industry Analysts, Inc.
Global Industry Analysts Inc., (GIA) is a leading publisher of off-the-shelf market research. Founded in 1987, the company currently employs over 800 people worldwide. Annually, GIA publishes 1500+ full-scale research reports and analyzes 40,000+ market and technology trends while monitoring more than 126,000 Companies worldwide. Serving over 9500 clients in 27 countries, GIA is recognized today, as one of the world's largest and reputed market research firms.
Global Industry Analysts, Inc.
Telephone: 408-528-9966
Fax: 408-528-9977
Email: press(at)StrategyR(dot)com
Web Site: http://www.StrategyR.com/
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Raghu Gopal, Global Industry Analysts Inc, +1 408-528-9966, [email protected]
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