What is the Global Digital Games Market Size?
The Global Digital Games Market is expected to grow with a compound annual growth rate of approximately 19% during the forecast period to cross around USD 272.24 billion by 2022. Digital games include several types of games compatible for the personal computers, consoles and other mobile devices. Mobile gaming, PC gaming and console gaming are the three main varieties of the digital games. The increasing penetration of smartphones and the internet around the world is fuelling the demand for the digital games market.
Mobile games are the rapidly growing segment of the digital games market and are expected to witness a CAGR of approximately 25.5% during the forecast period. Similarly, PC games and console games are estimated to witness CAGR of 11% and 14% during the same period. Although the smartphones are extending the reach, the PC and console games will see positive growth in the future due to the improving adoption rate of virtual reality, eSports and rise in digital purchases.
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Factors Driving the Growth of Global Digital Games Market:
The significant factors driving the global digital games market apart from the increasing internet and smartphone usage are the growing disposable income of the people, increasing demand for interesting games among youth population, advancements in the technology, the advent of new market players, and support from local governing authorities. However, the untapped market for the smartphones in the remote areas of developing regions, unstable internet connection, health concerns among parents, economic conditions, and government restrictions are some of the serious threats to the market expansion.
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Based on the regional analysis, the global digital games market is studied in the regions of North America, Latin America, Middle East and Africa, Asia Pacific, and Europe. The increasing growth of smartphones and the demand for technological innovations in the gaming industry are expected to augment the demand for the worldwide digital games market. The increasing number of gamers around the world is another supporting factor for the market.
Some of the leading companies in the Global Digital Games Market:
The leading contributors to the global digital games market are Activision Blizzard, Electronic Arts, Take-Two Interactive and Ubisoft.
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