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    The gaming market is fragmented by major companies that are focusing on maintaining their presence. They are doing so by proactively investing in R&D activities to develop engaging online video games. Additionally, other key players are adopting organic and inorganic strategies to maintain a stronghold that will contribute to the growth of the market during the forecast period. Online video games have become more prevalent in recent years.

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    An overview of the market based on geographical scope, segmentation and financial performance of key players is presented in the report.
    The report presents the estimated market size by the end of forecast period. Additionally, the historical and current market size is also examined in the report.
    Based on various indicators, the Year on Year growth (%) and compound annual growth rate (CAGR) for the given forecast period is offered.
    The report presents current trends in the industry and future scope of the market in North America, Asia Pacific, Europe, Latin America and Europe.
    The various parameters accelerating the growth of the market are incorporated in the research report.
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    Driving Factor

    Rising Youth Employment to Spur Demand for Video Games

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    Market Segmentation:

    Based on game type, the market is divided into shooter, action, sports, role-playing, and others.

    Based on game type, the shooter segment held a gaming market share of about 23.35% in 2020. The segment is expected to experience considerable growth since it provides 3D realistic graphics. It makes players experience a whole new experience of the virtual world. This fascinating atmosphere provided by battle games is driving the segment market.  


     

    KEY INDUSTRY DEVELOPMENTS:

    December 2019 – Facebook announced the acquisition of Play Giga, which is a Spanish video game company.

    November 2020: Microsoft declared the launch of the next-generation Xbox video game console. The flagship will be launched along with its cheaper counterpart Xbox Series S
    Source:

    https://www.fortunebusinessinsights.com/gaming-market-105730
    Gaming Market Business Opportunities, Top Manufacture, Growth, Share Report, Size, Regional Analysis and Global Forecast to 2028 According to Fortune Business Insights™, The global gaming market size is expected to gain momentum by reaching USD 545.98 billion by 2028 while exhibiting a CAGR of 13.20% between 2021 and 2028. The gaming market is fragmented by major companies that are focusing on maintaining their presence. They are doing so by proactively investing in R&D activities to develop engaging online video games. Additionally, other key players are adopting organic and inorganic strategies to maintain a stronghold that will contribute to the growth of the market during the forecast period. Online video games have become more prevalent in recent years. Most people find online games attractive and a modest way to find free time from their hectic schedules. Moreover, during the pandemic, the inclination toward gaming increased dramatically.  Many companies such as Nintendo and Tencent witnessed an increase in their sales during the first quarter. The former showcased a profit of 41%, as it sold many of its games digitally. The demand for online games will be persistent in upcoming years, and this market is anticipated to boom during the forecast period. Report Aim & Scope: An overview of the market based on geographical scope, segmentation and financial performance of key players is presented in the report. The report presents the estimated market size by the end of forecast period. Additionally, the historical and current market size is also examined in the report. Based on various indicators, the Year on Year growth (%) and compound annual growth rate (CAGR) for the given forecast period is offered. The report presents current trends in the industry and future scope of the market in North America, Asia Pacific, Europe, Latin America and Europe. The various parameters accelerating the growth of the market are incorporated in the research report. The report analyzes growth rate, market size and valuation of the market during the forecast period. Driving Factor Rising Youth Employment to Spur Demand for Video Games The rising millennial youth population is expected to drive the gaming market growth. For instance, a report from the American Association of Advertising Agencies.Org, published in February 2019, mentioned that the generation z population plays games daily. Their number is higher than that of millennials by 84%.  Moreover, rising disposable income is resulting in a higher consumption rate of video games. For instance, the data released by the World Bank.Org, states that the global youth unemployment in 2018 is 15.19% which is a decline from 15.37 % from its prior year. Market Segmentation: Based on game type, the market is divided into shooter, action, sports, role-playing, and others. Based on game type, the shooter segment held a gaming market share of about 23.35% in 2020. The segment is expected to experience considerable growth since it provides 3D realistic graphics. It makes players experience a whole new experience of the virtual world. This fascinating atmosphere provided by battle games is driving the segment market.     KEY INDUSTRY DEVELOPMENTS: December 2019 – Facebook announced the acquisition of Play Giga, which is a Spanish video game company. November 2020: Microsoft declared the launch of the next-generation Xbox video game console. The flagship will be launched along with its cheaper counterpart Xbox Series S Source: https://www.fortunebusinessinsights.com/gaming-market-105730
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