Report Overview-
According to Fortune Business Insights™ the Global Video Games Market size was valued at USD 188.73 billion in 2021 and is projected to grow from USD 199.74 billion in 2022 to USD 307.19 billion by 2029, exhibiting a CAGR of 6.3% during the forecast period. The market is slated to expand significantly owing to growing popularity of competitive multiplayer games.
Segments-
Easy Access to 5G Networks will Drive Market Growth
As per device, the market is divided into PC/laptop, smartphones, and consoles. Among these, the smartphones segment captured the largest video games market share. Easy access to 5G networks and launch of smartphones with advanced features resulted in a surge in the number of gamers.
Tech Savvy Populace will Promote Market Growth
Based on age group, the market is split into generation X, generation Y, and generation Z. Generation Z is tech savvy as they grew up in an era of technological advancements, availability of high-speed internet, and growing smart phone penetration.
Launch of Gaming Smartphones will Contribute to Market Elevation
According to platform type, the market is segmented into offline and online. The online segment dominated the market and is expected to grow in the coming years due to the launch of gaming smartphones with advanced features. Digitization in emerging countries such as India and China has driven the growth of online games.
Geographically, the market is fragmented into North America, South America, Europe, Asia Pacific, and the Middle East & Africa.
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List of Key Players Present in the Market: