LONDON--(BUSINESS WIRE)--The global arcade gaming market size is expected to grow by USD 1.56 billion during 2020-2024. The report also provides the market impact and new opportunities created due to the COVID-19 pandemic. We expect the impact to be significant in the first quarter but gradually lessen in subsequent quarters – with a limited impact on the full-year economic growth.
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The Arcade gaming market is one of the fastest adopters of technological innovations. These innovations have changed gaming from a 2D gameplay on a screen, which only required gamers to use their hands, to VR in which the gamer can experience the virtual world of gaming. Various innovations to make the gaming experience interactive and real-life include head-mounted displays, motion controllers, tracking devices, and gaming gloves. However, one aspect that largely remains to be covered in gaming is the incorporation of the gamer's physical motions. By including the natural physical activity of the gamer, VR can be taken to the next level. Virtuix Omni is already working on the prototype Omni, where the gamer can sprint, walk, jump, and crouch in the virtual world. Omni integrated with a head-mounted display (HMD) is expected to provide the most real-life gaming simulation platform. Such advancements is likely to have a positive impact on the growth of the market during the forecast period.
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As per Technavio, the limited piracy concerns will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other significant trends and market drivers that will influence market growth over 2020-2024.
Arcade Gaming Market: Limited Piracy Concerns
Piracy is one of the major factors hindering the growth of the digital content industry. Sharing files and downloading content from unauthorized online sources are the major challenges for content providers. This affects the revenue of the industry, especially in the digital and packaged gaming segments. However, this threat is minimal in the arcade gaming industry since the games are primarily played on the hardware. This hardware equipment is predominantly used commercially and incurs a significant investment. Considering the high investment involved in the arcade gaming business, vendors do not risk investing in a pirated version of the game. As arcade gaming business has tie-ups internationally, a delay in the release of games or hardware-based in specific geographic regions can be completely negated. Considering the threat of piracy being minimal, software vendors will be encouraged to create games specific to the hardware.
“Factors such as the high scope for monetization, and the improvements in gameplay design and gaming consoles will have a significant impact on the growth of the arcade gaming market value during the forecast period,” says a senior analyst at Technavio.
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Arcade Gaming Market: Segmentation Analysis
This market research report segments the arcade gaming market by end-user (gaming hubs, semi-commercial, and residential), type (video games, simulation games, and mechanical games), genre (racing, shooting, sports, and action), and geography (APAC, North America, Europe, South America, and MEA).
The APAC region led the arcade gaming market in 2019, followed by North America, Europe, South America, and MEA respectively. During the forecast period, the APAC region is expected to register the highest incremental growth due to factors such as the growth of the market in emerging countries, and the availability of innovative arcade games with high graphics capabilities.
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Some of the key topics covered in the report include:
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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