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Online Gaming Market Drivers Growing Support from the Government

HYDERABAD, TELANAGANA, INDIA, January 27, 2023 /EINPresswire.com/ -- IndustryARC, in its latest report, predicts that Online Gaming Market is anticipated to reach $18.5 billion by 2025 with a CAGR of 4.1% in the Forecast period 2020-2025. Owing to the increased spending on online games and the growing penetration of smartphones & tablets. In addition, availability of high-speed internet connectivity and reliable network is also one of the key factors fuelling the demand for online gaming solutions and services. Moreover, constant improvements in network connectivity and advancements in AR, VR, and XR technologies are estimated to provide key growth opportunities for the iGaming market in forecast period 2020-2025. The report offers a complete analysis of the market, its major segments, growth factors, trends, drivers and challengers, key players and more.

Click here to browse the complete report summary:
https://www.industryarc.com/Report/19284/online-gaming-market.html

Key takeaways:

1. North America dominated the online gaming market size with more than 42%. Owing to rise in investments, internet usage and government support

2. Smart phone online gaming market is anticipated to grow at a CAGR of 6.5% in the forecast period 2020-2025. Owing to high smartphone and internet penetration across the globe, the market is projected to grow rapidly in the forecast period.

3. Virtual reality in online gaming is growing at a highest CAGR in the forecast period. Most of the virtual reality input devices are prototypes, and companies are investing heavily in Research & Development (R&D) to build consumer versions which can be connected to consoles, desktops, and smartphones.

4. Online gaming top 10 companies include Ubisoft, Activision Blizzard, Zynga Inc., Microsoft, Betsson AB, Konami, Sega, Sony Corp., Tencent, and Wargaming

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Segmental Analysis:

1. Smart phone online gaming market is anticipated to grow at a CAGR of 4.5% in the forecast period 2020-2025. High smartphone and internet penetration across the globe is enhancing the markets to grow rapidly in the forecast period.

2. In 2019, Tencent invested $90 million in Pocket Gems and $126 million in Glu Mobile. In May 2018, hyper-casual mobile gaming studio Voodoo announced a $200 million investment from Goldman Sachs for development of online mobile games.

3. Battle royal in online gaming is growing at a highest CAGR in the forecast period. In 2019, PUBG has generated more than $1 billion. Similarly Fortnite has generated more than $3 billion each of the last two years. Moreover companies such as Tencent and Ubisoft have invested heavily for development of games in this genre.

4. In 2019, North America dominated the online gaming market share with more than 42%. Owing to rise in usage of smartphone and internet. In 2019, internet penetration in the region reached 88% and the average time spent across digital media by an adult has increased.

Competitive Landscape:

The top 5 players in the Online Gaming industry are -

1. Ubisoft

2. Activision Blizzard

3. Zynga Inc.

4. Microsoft

5. Betsson AB

Click on the following link to buy the Online Gaming Market Report:
https://www.industryarc.com/reports/request-quote?id=19284

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Related Reports:

A. Augmented Reality & Virtual Reality For Gaming Market
https://www.industryarc.com/Report/16349/augmented-reality-virtual-reality-market-for-gaming-industry.html

B. Mobile 3d Market
https://www.industryarc.com/Research/Mobile-3d-Market-Research-500686

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