How To Get A Fabulous Gaming Market On A Tight Budget

The global gaming market size will grow by USD 90.13 billion during 2019-2023. This market report provides a detailed analysis of the 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). Also, the report analyzes the market’s competitive landscape and offers information on many gaming companies, including Activision Blizzard Inc., Bandai Namco Entertainment Inc., CyberAgent Inc., Electronic Arts Inc., GungHo Online Entertainment Inc., Microsoft Corp., NetEase Inc., Sony Corp., Tencent Holdings Ltd., and The Walt Disney Co.

Key Insights on Gaming Market Size - Global Forecast 2019-2023
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Industry Overview

The integration of blockchain technology in the gaming industry is enabling players to trade in-game virtual assets with other competing players and facilitate peer-to-peer transactions. For instance, GCS (GameChain System), a game distribution platform in China, leverages blockchain technology to offer a secure transaction platform to its users. The technology is also being adopted by several gaming companies and gaming console manufacturers. Microsoft recently announced its plan to roll out blockchain technology for Xbox. The integration of blockchain is expected to provide fast and secure payment networks and allow game developers to monetize their gaming services efficiently. The integration of blockchain technology will provide substantial growth opportunities for gaming companies during the forecast period, driving the growth of the global gaming market size.

Moreover, the introduction of the free-to-play model will also offer considerable growth opportunities to market vendors. This model allows users to play games in exchange for virtual goods and currencies. In some cases, it encourages users to spend real money to purchase virtual products, such as coins, magic wands, houses, guns, and swords. The free-to-play model prompts free users to convert into premium users by limiting the access up to certain game levels. Gaming service providers are increasing their profit margins by providing access to many freemium games through social media and mobile platforms. Freemium is emerging as one of the most popular and productive business models in the current era of digital services. The gaming market forecast predicts that as a result of these factors, the market will register a CAGR of more than 10% during 2019-2023.

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