In this report, Technavio covers the market outlook and growth prospects of the global gaming market for 2016-2020. The report presents the vendor landscape of the top five vendors in the market and lists other prominent vendors in the market. It also discusses the major drivers that are influencing market growth, current challenges faced by vendors and the market as a whole, and key emerging trends affecting the current and future market scenarios.
“The global gaming market is expected to grow at a steady pace during the forecast period owing to technological advances and varying consumption patterns. The market is evolving as users are spending more time and money on games. Complex gaming patterns in terms of when, where, and how games will be played will shape vendor offerings,” says Ujjwal Doshi, a lead gaming research expert from Technavio.
Technavio’s media and entertainment research analysts segment the global gaming market into the following regions:
In 2015, with a market share of over 47%, APAC dominated the global gaming market, followed by the Americas with over 30% and EMEA with over 22%.
APAC: largest market for gaming
The gaming market in APAC is likely to grow at a CAGR of more than 11% to reach USD 75 billion by 2020. APAC is the largest market for gaming as the region is considered as the hub for gaming, especially in East Asia. Most of the innovations in gaming technologies happen in Japan, and most of the hardware vendors, including Sony and Nintendo, are based in Japan.
One of the major drivers in the market is the growth of the market in emerging countries. A majority of the countries in APAC such as India, Indonesia, and Malaysia are emerging countries in the gaming industry. The availability of a diverse range of devices with different screen sizes and graphic capabilities are enabling the integration of games in the market. As the technological landscape evolves, games will increasingly appeal to consumers and this will drive the growth of the market during the forecast period. Vendors are increasingly going beyond cultural and language optimization to include better graphics and adapt to diverse types of handsets.
The key countries in the region are China, Japan, and the Republic of Korea which will contribute 86% of the total revenue generated in the region.
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Americas: increasing popularity of digital downloads
North America is the innovator of gaming leagues. Gaming leagues have motivated gamers globally to pursue a career in gaming. One of the major drivers for the market's growth is the increase in digital downloads. The latest generations of consoles are equipped with Wi-Fi, network connectivity, and HDD, giving gamers direct access to online game stores and allowing them to download games. This reduces the hassle of visiting a store to purchase discs, which are prone to physical damage. Online gaming stores such as Nintendo eShop, Xbox Game Marketplace, and PlayStation Network also provide instant access to online games. With the advent of downloadable games, gamers can easily connect to an online community.
However, the market in North America has been exhibiting stagnated growth because it has reached maturity. South and Central America are the fastest-growing markets. “The penetration of gaming consoles in these regions is not as high as it is in North America due to which digital downloads have become the primary source of gaming especially with the growing penetration of the internet. As a result of these developments, online gaming and social gaming is increasing,” says Ujjwal.
EMEA: rise in number of hardcore gamers in Eastern European countries
The growth of the gaming market in EMEA has been strongly impacted by the recession in Europe. However, the impact of the recession is likely to reduce during the forecast period. One of the major factors contributing to the market's growth is the rise in number of hardcore gamers in Eastern European countries. Many gamers from Sweden and Ukraine are among the richest gamers in the world. The major countries in terms of revenue in Eastern Europe are Russia, Poland, and Ukraine. The growth in Eastern Europe, contributes to only 12% of the revenue in EMEA.
The launch of Nintendo's next-generation console will not have the same impact as it did in APAC. However, the adoption rate of Nintendo NX is likely to increase from 2017 onwards, which will drive the growth of the market. The gaming market in EMEA was valued at USD approximately 21 billion in 2015, and it is likely to decline to USD 20 billion by 2020, posting a declining CAGR of 0.39%.
The top vendors in the global gaming market highlighted in the report are:
- Activision Blizzard
- Electronic Arts
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