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A new market study, titled “Discover Global Games Market Upcoming Trends, Growth Drivers and Challenges” has been featured on WiseGuyReports.
Technology has boosted the game industry, and it has given the market a much-needed makeover. The global Games Market is considered to be one of the most attractive markets of the current times, which are likely to experience further growth and expansion with the passage of tie and the evolution of technology. It is believed that the market at the global level will generate approximately USD 152.1 billion in 2019. The performance is expected to be further strengthened shortly. In the current times, there are around 2.5 billion gamers all around the globe who play a vital role to influence the demand of the industry offerings.
A wide range of factors has accelerated the overall performance of the Games Market at the global scale such as the growing popularity of Personal Computers and smartphone, rapid technological advancement, the emergence of Virtual Reality (VR) and the effective marketing strategies of the businesses. Several challenges arise in the industry setting, which restricts its potential such as high laws and regulations, risks relating to piracy, and issues relating to fraudulent activities. An in-depth analysis of the market has been carried out to get an idea about its growth potential.
On the basis of devices, smartphone has captured the largest chunk of the market share in the gaming market. This segment also boosts the maximum number of players. The console has gained a high reputation for being the second largest segment of the gaming market. It has been forecasted that during the forecasted period, the downloaded PC games will showcase a poor performance. Due to the high attractiveness of the Games market, several technology-inclined market players have entered the scene and intensified the competitive intensity in the global market setting. Some of the main players that function in the technology-driven industry are NetEase and Sony. A large number of innovative strategies have been implemented in the Games market setting to attract a large number of gamers. For instance, Electronic Arts (EA) involved female soccer players in 2016 so that it could attract female gamers.
Key Players of Global Games Market =>
The global games market can be segmented on the regions in which it has its presence, by the devices and equipment and by the revenue that is generated by the market participants. Based on the geographical segmentation, the main categories include North America, the United States of America, and Canada. The main sub-categories based on the devices in which the games are played Tablet, Console, Smartphone, Browser PC, and Downloaded PC. Some of the major industry players based on their revenue are Sony, Microsoft, Apple, Google, Ubisoft, MIxi, Konami, DeNA, and many more.
Latest happenings in the industry
Many new games are getting launched in the market. One of the major happenings in the games industry is that Steam is going to launch in China to woo the Chinese gamers officially. This replayable motorbike game could play a vital role to shape the future performance of the games industry at the global level.
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