Online gaming is witnessing high growth among young age group people. Game are offering online interactions with other players along with actual transaction options.
|Market||Online Gaming Market|
|Analysis Period||2017 - 2028|
|Forecast Data||2021 - 2028|
|Segments Covered||By Type, By Age Group, and By Region|
|Regional Scope||North America, Europe, Asia Pacific, Latin America, and Middle East & Africa|
|Key Companies Profiled||Electronics Arts, Bwin, Party Digital Entertainment, King Digital Entertainment, Peak Games, Gree, Arkadium, Playdom, Fun Technologies, NCSOFT, GungHo Online, Giant Interactive, Riot Games, and Zynga|
||Market Trends, Drivers, Restraints, Competitive Analysis, Player Profiling, Regulation Analysis|
|Customization Scope||10 hrs of free customization and expert consultation|
Online gaming is highly popular among people of all age group. Consumers spend a larger amount of time on gaming each year. Across the globe gamers spend an average eight hours each week playing games. Rapid technological advancement in electronic devices and introduction of mobile and tabs with more enhanced graphic making it compatible for gaming is resulting in people of young age inclining towards buying high end electronic devices. Young age people from countries such as China, South Korea, and India are investing large amount of time on gaming. Organizations are establishing various contests and gaming competitions with some prize this is encouraging the players. According to the data published by the Korea Creative Content Agency, more than 64% of Korean people aged between 10-65 years old are playing games on a regular basis. In 2019, mobile games accounted for 90 percent of the total app revenue in Korea, an estimated US$ 6.3 billion in sales. In 2018, Playstation Plus subscribers an online gaming service reached to 34.2 million. These are major factors expected to drive the growth of global online gaming market.
Favorable government policy in order to support the growth of industry is expected to impact the growth of target market. In 2020, the government of Korea is focused on lowering the strictness on the gaming sector. It is focused on implementing flexible game ratings system, increasing a limit on the amount of money one can bet within games and promoting government led industry events. This is expected to help the industry flourish and increase revenue generation. Factors such as high charges of online gaming and issues related to data theft and privacy are major factors expected to hamper the growth of global online gaming market. In addition, complex and strict government regulations related to online gaming is expected to challenge the growth of target market. Barring online fantasy sports (OFS) games, most other modern day games face similar ambiguity. The government of Andhra Pradesh and Telangana has banned real money games altogether while Tamil Nadu permits skill games. Kerala has banned online rummy played for stakes. However, chancing government regulations, increasing transparency and enhanced care related to data privacy and high investment by major players in online competition are factors expected to create new opportunities for players operating in the online gaming market over the forecast period. In addition, introduction of new games is expected to attract new players this is expected to support the revenue transaction of the target market.
Segment Analysis by Region
The market in Asia Pacific is expected to account for significant revenue share in the global online gaming market due to high penetration of high speed internet and increasing number of consumers spending time on gaming. Favorable business policies and presence of major gaming production houses and gaming device manufacturers operating in the countries such as Japan and South Korea are factors expected to support the growth of target market. Changing government policies and introduction of new online games is emerging economies is expected to attract consumers this is expected to augment the growth of regional market.
The global online gaming market is highly competitive due to presence of large number of players and innovative product offerings. In addition, business expansion activities through partnerships and agreements are factors expected to further increase the competition.
Online Gaming Market Segment Analysis, 2020
The global online gaming market is segmented into type and age group. The type segment is bifurcated into mobile games, pay-to-play games, free-to-play games, and pay-in-play games. Among type the mobile games segment is expected to account for major revenue share in the global online gaming market due to high penetration of smart phones with enhanced graphics. The age group segment is divided into below 10 years, 11-24 years, 25-44 years, and above 465 years. Players operating in the global online gaming market are Electronics Arts, Bwin, Party Digital Entertainment, King Digital Entertainment, Peak Games, Gree, Arkadium, Playdom, Fun Technologies, NCSOFT, GungHo Online, Giant Interactive, Riot Games, and Zynga.
Market By Type
Market By Age Group
Below 10 Years
45 and Above Years
Market By Geography
• Rest of Europe
• South Korea
• Rest of Asia-Pacific
• Rest of Latin America
Middle East & Africa
• South Africa
• Rest of Middle East & Africa
Factors such as high charges of online gaming and issues related to data theft and privacy are major factors expected to hamper the growth of global online gaming market.
Favorable government policy in order to support the growth of industry is expected to impact the growth of global market.
In type the mobile gaming segment is growing at faster pace.
In the global market the Asia Pacific region is expected to grow faster.
Some of the players considered in the report scope are Electronics Arts, Bwin, Party Digital Entertainment, and King Digital Entertainment.
The North America is expected to account for major revenue share in the global market.