How big is the global video game market?
How big is the global video game market?
Report Overview The global video game market size was valued at USD 151.06 billion in 2019 and is expected to grow at a Compound Annual Growth Rate (CAGR) of 12.9% from 2020 to 2027. Technological proliferation and innovation in both hardware and software are expected to be the key factors driving the growth.
How much money does the video game industry make?
Video games are a billion-dollar business and have been for many years. In 2020, the revenue from the worldwide PC gaming market was estimated at almost 37 billion U.S. dollars, while the mobile gaming market generated an estimated income of over 77 billion U.S. dollars.
Why is there a demand for video games?
Growing popularity of eSports tournaments and the increasing number of professional gamers are anticipated to increase sales of video games and accessories along with gaming hardware and software. The video game market is experiencing high demand in various avenues such as educational institutes and corporate enterprises.
Which is a feature of the next generation gaming consoles?
Dynamic simulation is another exhilarating feature offered by the next-generation gaming consoles, creating a feeling of immersion and allowing the gamer to actively influence the world around. The online video game segment is expected to gain traction over the forecast period.
How many people play video games in the world?
There were 2.69 billion video game players worldwide in 2020. The figure will rise to 3.07 billion in 2023 based on a 5.6% year-on-year growth forecast. The global games market had $159.3 billion in revenues for 2020, almost half of which came from the Asia Pacific market. Gamers are not the minority as TV and film paint them out to be.
How long does it take to watch human population grow?
Watch human population grow from 1 CE to present and see projected growth in under six minutes. This “dot” video, one of Population Education’s most popular teaching tools, was updated in 2015 and is now more accurate than ever with all dots placed using GIS.
How are the demographics of gaming have changed?
Based on these ads, it might seem like the market hasn’t shifted at all. After all, plenty of big console titles feature macho men with big weapons while more neutral and colorful games don’t get the same level of attention. Yet with the rise of smartphones, the gaming demographic has dramatically shifted.
