The Global Market for Video Games is Projected to Reach US$169.1 Billion by 2022

Emergence of Digital Games as an Innovative Art & as a Platform for Education Drives the Global Video Games Market, According to a New Report by Global Industry Analysts, Inc.

GIA launches comprehensive analysis of industry segments, trends, growth drivers, market share, size and demand forecasts on the global Video Games market. The global market for Video Games is projected to reach US$169.1 billion by 2022, driven by rapid technological developments; growing use of video games as a valuable high-tech teaching tool to impart 21^st century skills such as creative thinking, problem solving and collaboration; and growing prominence of video games as a form of modern artistic expression and entertainment.

Video games have revolutionized the concept of entertainment over the years and are today a part of the mainstream media & entertainment industry. The first video game, which was launched in 1966, spawned a global epidemic of gaming fever fueled further by incremental improvements in computing, mobile devices and proliferation of the Internet. Currently, a full-fledged industry, video games has gathered critical mass both in terms of game varieties and customer base. What was traditionally a favorite pass time for children, is now entwined with modern culture, and digital habits of technology savvy adults. The industry presently flaunts a broad customer base encompassing children, young adults and mature grown-ups. Acceptance of video gaming as an educative and meaningful leisure activity has been the major change in consumer perception that has helped expand the audience base in the market.

Video games have not only evolved in terms of hardware but also in terms of enabling software over the years. As a key enabler of gaming experience allowing users to experience game play with different challenges, characters, themes and gaming, video games software has been the primary revenue contributor in the video games market over the years. Unlike the one-time purchase of video game hardware such as consoles, video games software requires repeat purchases and therefore is a steady revenue contributor in the industry. Over the decades, the industry has churned out a mind-boggling array of games software designed to meet the demand and preferences of a diverse consumer base. Technological innovations and breakthroughs have and will continue to drive market prospects. Earlier serving only the home console gaming segment, video games software has over the years developed further to even serve portable gaming consoles, PC gaming, online gaming and mobile gaming platforms.

As stated by the new market research report on Video Games, Asia-Pacific represents the largest and the fastest growing market worldwide with a CAGR of 10.0% over the analysis period. The growth in the region is led by growing population, expanding base of affluent middle class population with a high degree of technological sophistication, strong penetration of smartphones, mobile Internet and the ensuing popularity of wireless games, growing preference for interactive entertainment and escalating popularity of social games, free-to-play games and pay-to-play games. Mobile Games represents the fastest growing market segment with revenues waxing at a CAGR of 12.6% over the analysis period.

Major players in the market include Activision Blizzard, Inc., Atari, Inc., Capcom Co., Ltd., Electronic Arts, Inc., iWin, Inc, Konami Corporation, Microsoft Corporation, Namco Bandai Holdings, Inc., Nintendo Co. Ltd., Sega Corporation, Sony Interactive Entertainment America, Square Enix Holdings Co. Ltd, Take 2 Interactive Software, Inc., Tetris Holding, LLC, Ubi Soft Entertainment S.A., and WMS Industries Incorporated among others.

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 Video Games Software in Value (US$ million) for all major geographic markets such as the US, Canada, Japan, Europe (France, Germany, Italy, UK, Spain, Russia, and Rest of Europe), Asia-Pacific (Australia, China, Korea and Rest of Asia-Pacific), Middle East & Africa, and Latin America (Brazil, Mexico & Rest of Latin America). Product segments analyzed in the report include Console Games, Handheld Games, PC Games (Digital & Boxed), Casual Web Games, and Mobile Games.

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