According to the latest market research study released by Technavio, the global gaming market is expected to grow at a CAGR of more than 6% during the forecast period 2016-2020.
This market research report by Technavio provides an in-depth analysis of the market in terms of revenue and emerging market trends. The report also includes an up-to-date analysis and forecasts for various market segments and all geographical regions.
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Technavio research analysts categorize the global gaming market based on gaming type:
Global gaming market share by gaming type 2015
|
TV game consoles |
28.07% |
|
MMO |
24.18% |
|
Smartphones |
20.84% |
|
Tablets |
9.30% |
|
Boxed PCs |
7.19% |
|
Online games |
5.77% |
|
Handheld gaming consoles |
4.65% |
Source: Technavio
The top four revenue contributing product segments are discussed below:
Global gaming market by TV consoles
In 2015, the TV consoles segment accounted for a market share of 29 %. The TV game consoles segment is the leading segment in the global gaming market and will continue to be the dominant segment in the market in the forecast period. The penetration of TV consoles is high in countries like the US, Germany and the UK. As compared to other segment devices like computer screens or mobile screens, the hardware price of TV consoles is high. The major driver for the growth of this segment is an increasing number of end-users for TV consoles. Catering to a huge number of end users ranging from children to adults, requires marketers to develop the best strategies to drive maximum customer satisfaction.
“The changing lifestyle of gamers is another major factor contributing to the growth of the segment. For instance, with improving AV technology and the availability of 4K displays, gamers are demanding for high graphic and visually appealing games. This has led to the development of games in full HD and 4K resolution,” says Ujjwal Doshi, senior analyst at Technavio for research on gaming.
Global gaming market by MMO
In 2015, the market share for MMO accounted for 24%. MMO has been one of the leading segments and it will continue to have significant growth in the forecast period. The increasing audio-video experience is also driving the growth of the market. With technological advancements, new features like HD displays and audio devices that have HDMI and wireless network capabilities have emerged. These adjuncts, advanced audio systems, and easy-to-connect consoles gives gamers a real life-like gaming experience. Apart from these, the presence of advanced displays and TV units will have a positive impact on the growth of the global MMO gaming market.
Global gaming market by smartphones
The market share for smartphones accounted for 21%, in 2015. It was observed in 2015, that the global penetration of smartphones as compared to other gaming platforms was one of the highest, which drives the growth in this segment. Apart from the limited hardware, the growing business model is one of the major factors contributing to the growth of mobile gaming.
In this segment revenue can be generated either by charging a premium price for the games or by providing the games for free to users. The paid games can be made available for users in the Android App store and Apple store. In the other business model, games are provided for free to create a large consumer base and invoke in-app purchases. There are multiple factors that can encourage consumers to spend money on virtual objects. Major vendors such as King, Supercell, and Zynga are focusing on their development and marketing strategies to reach a wider audience and reduce the opportunities for smaller vendors in the market.
Global gaming market by tablets
In 2015, the market value for tablets accounted for 9 %. These days the gamers are preferring to shift from gaming consoles and PC gaming to online gaming and gaming on smartphones and tablets. The easy availability is one of the major reasons for the shift in preferences. Apart from this, the growing world of social media allows users to compete with their friends and enjoy the game more. As compared to other gaming consoles tablet games are available either at low cost or free and also the hardware expenditure for a tablet is les. With increasing loyal customers, the business model for tablet gaming is economically viable which increases in-app purchases. Being one of the highest among gaming platforms, tablets can any day give a good gaming experience. Apart from gaming tablets can also be used as a personal device and has multiple functions.
The top leading vendors operating in the global gaming market are –
- Activision Blizzard
- Electronic Arts
- Microsoft
- Sony
- Tencent
Other prominent vendors in the gaming market include Apple, Changyou, DeNA, Disney, Facebook, Google, GREE, GungHo Entertainment, King Digital Entertainment, Konami, Namco Bandai, NCSOFT, NetEase, Nexon, Nintendo, Sega, Square Enix, Take-Two Interactive, Telltale Games, Ubisoft Entertainment, and Zynga.
A more detailed analysis is available in the Technavio report titled, ‘Global Gaming Market 2016-2020’. Technavio also customizes reports by other regions and specific segments upon request.
Other related reports:
- Global Gaming Peripheral Market 2016-2020
- Global Gaming Console Market 2016-2020
- Global Cloud Gaming Market 2016-2020
- Global Online Gaming Market 2016-2020
- Virtual Reality in Gaming Market in APAC 2015-2019
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