Global Gaming Market 2019-2023 | Introduction of Free-to-Play Models to Boost Growth | Technavio
LONDON--(BUSINESS WIRE)--Nov 28, 2019--
The global gaming market is expected to post a CAGR of over 10% during the period 2019-2023, according to the latest market research report by Technavio. Request a free sample report
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Technavio has announced its latest market research report titled global gaming market 2019-2023. (Graphic: Business Wire)
Vendors in the market are integrating blockchain technology in their gaming solutions to offer a secure transaction platform for their users. Moreover, it enables players to trade in-game virtual assets with other competing players and peers. Blockchain also provides a decentralized asset exchange and enables game service providers and developers to effectively monetize their services. Hence, the integration of blockchain technology in the gaming industry is expected to offer huge growth opportunities for market players during the forecast period.
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As per Technavio, the introduction of free-to-play models will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other important trends and market drivers that will affect market growth over 2019-2023.
Global Gaming Market: Introduction of Free-to-Play Model
Vendors are introducing the free-to-play model, also known as freemium model to promote their games. This model allows users free access to the game up to a certain level followed by paid access for higher levels. This approach is helping vendors to convert many free users into paid users, thereby increasing their revenues. Hence, this trend is expected to boost the growth of the market during the forecast period.
“The increasing emergence of cloud gaming and rise in strategic partnerships and acquisitions will further boost market growth during the forecast period,” says a senior analyst at Technavio.
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Global Gaming Market: Segmentation Analysis
This market report segments the global gaming market by platform (online and offline), type (casual gaming and professional gaming), device (console gaming, mobile gaming, and PC gaming), and geography (APAC, Europe, MEA, North America, and South America).
The APAC region led the market in 2018, followed by North America, Europe, MEA, and South America respectively. During the forecast period, the APAC region is expected to maintain its dominance over the market. This is due to the rise in the number of strategic alliances and acquisitions between vendors, supply chain service providers, and gaming content providers in the region.
Technavio’s sample reports are free of charge and contain multiple sections of the report, such as the market size and forecast, drivers, challenges, trends, and more.
Some of the key topics covered in the report include:
- Market ecosystem
- Market characteristics
- Market segmentation analysis
- Market definition
- Market size and forecast
Five Forces Analysis
- Geographic comparison
- Key leading countries
- Landscape disruption
- Competitive scenario
- Vendors covered
- Vendor classification
- Market positioning of vendors
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INDUSTRY KEYWORD: ELECTRONIC GAMES ENTERTAINMENT
SOURCE: Technavio Research
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PUB: 11/28/2019 07:30 AM/DISC: 11/28/2019 07:30 AM