According to a new report, published by KBV research, The Global Video Game Market size is expected to reach $413 billion by 2028, rising at a market growth of 11.8% CAGR during the forecast period.
The Offline segment acquired maximum revenue share in the Global Video Game Market by Type in 2021, thereby, achieving a market value of $279.5 billion by 2028. Due to the increasing popularity of the story mode games are growing the market. Offline games can be played without needing to connect to the Internet. This means that each person can be the hero of their game world without having to interact with others. The gamer does not have to waste time with beginners who do not have much experience in the game in these games.
The Console segment is showcasing a CAGR of 12% during (2022 - 2028). Due to its lucrative features such as high-end screens and sound systems are designed to provide gamers with a better and more enriched experience. In addition, consoles have novel features that allow gamers to capture and share in-game footage. Another valuable element included in next-generation video game consoles are dynamic simulation, which provides gamers with an immersive experience.
The Asia Pacific market dominated the Global Video Game Market by Region in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $206.2 billion by 2028. The North America market is estimated to grow at a CAGR of 10.9% during (2022 - 2028). Additionally, The Europe market would experience a CAGR of 11.6% during (2022 - 2028).
Full Report: https://www.kbvresearch.com/video-game-market/
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of Electronic Arts, Inc., Nintendo Co., Ltd., Rovio Entertainment Corporation, Microsoft Corporation, Lucid Games Ltd., Tencent Holdings Ltd., Activision Blizzard, Inc., Sony Corporation, Apple, Inc., and The Walt Disney Company.
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