Gaming Market set to surge to $102.13 billion between 2022-2027, fueled by rising AR and VR game popularity, reports Technavio

The report titled “Forecast and Analysis 2023-2027 for the Gaming Market,” categorized by type (casual gaming and professional gaming), platform (online and offline), device (mobile gaming, console gaming, and PC gaming), and geography (APAC, North America, Europe, Middle East and Africa, and South America), has been incorporated into Technavio’s comprehensive offerings. Technavio, boasting ISO 9001:2015 certification and a successful 16-year partnership with over 100 Fortune 500 companies, reveals a projected growth variance of USD 102.13 billion for the gaming market from 2022 to 2027.

A pivotal growth driver in this market is the escalating adoption of Augmented Reality (AR) and Virtual Reality (VR) games. AR/VR gaming seamlessly integrates gaming visual and audio content into a user’s real-time environment. The utilization of AR and VR devices is expected to surge as awareness regarding gaming through these technologies continues to rise. Industry leaders like Sony and Microsoft are incorporating cutting-edge 3D technology into the development of gaming platforms, reflecting a prevalent trend.

For a more profound understanding of the market, including its size, current scenario, future growth prospects, significant driving factors, latest trends, and more, the complete report is available for purchase.

Market Challenge: A substantial challenge hindering market growth is the regulatory scrutiny surrounding loot boxes. Loot boxes, virtual items purchasable with real money, offer randomized in-game rewards, enhancing the gaming experience for some players. However, these have faced criticism for potentially promoting gambling. Regulatory authorities in several countries have taken actions to address these concerns, and the resultant impact on game developers or publishers may necessitate adjustments to their business models for compliance.

Discover additional key drivers, trends, and challenges in the gaming market through Technavio’s comprehensive insights. Access a Free Sample PDF Report for more details.

Market Segmentation: The gaming market is segmented by type (casual gaming and professional gaming), platform (online and offline), device (mobile gaming, console gaming, and PC gaming), and geography (APAC, North America, Europe, Middle East and Africa, and South America).

Casual Gaming Segment: During the forecast period, the casual gaming segment is anticipated to witness significant market share growth. Casual players, characterized by their infrequent engagement with video games, contribute to the profitability of freelance service providers through the licensing of gaming software to end-users. The segment’s popularity is rising due to its easy accessibility, allowing games to be played across various devices such as mobile phones, tablets, or personal computers.

Regional Contribution: The APAC region is projected to contribute 53% to the overall global market growth during the forecast period.

For a comprehensive understanding of segment contributions and regional opportunities, refer to the Free Sample Report for valuable insights.

Key Companies in the Gaming Market: Notable companies in the gaming market include Activision Blizzard Inc., Apple Inc., Bandai Namco Holdings Inc., Bowlmor AMF, Chicago Gaming Co., DeNA Co. Ltd., Electronic Arts Inc., Epic Games Inc., GungHo Online Entertainment Inc., Microsoft Corp., NetEase Inc., Netmarble Corp., Niantic Inc., Nintendo Co. Ltd., Rovio Entertainment Corp., Sony Group Corp., Square Enix Holdings Co. Ltd., The Walt Disney Co., Ubisoft Entertainment, and Zeptolab UK Ltd.

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The Global Gaming Simulators Market size is estimated to grow by USD 13,060.47 million at a CAGR of 17.58% between 2022 and 2027.

The Global Cloud Gaming Market size is estimated to grow by USD 1,619.32 million at a compound annual growth rate (CAGR) of 10.54% between 2022 and 2027.

About Technavio Research

Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.