Video games are extremely popular around the world. Their global market is expected to reach USD $141 billion by 2021, according to a new report from the EY Digital Gaming Insights Service. Despite the popularity of video games, as well as the number of revenue opportunities they offer, there is still a lot of confusion about how companies can make money on them. This article breaks down the five most common ways that companies make money on video games and explains which ones are most likely to succeed in the future.
Introduction
Video games have become an increasingly popular form of entertainment, with millions of people around the world playing video games every day. The global video game market is expected to grow from $108.2 billion in 2017 to $158.8 billion by 2025, according to a report by MarketsandMarkets. The global video game market is divided into two main categories: console games and mobile games. Console games are played on traditional gaming consoles such as the PlayStation 4 and Xbox One, while mobile games are played on handheld devices such as smartphones and tablets. Console games are generally more expensive than mobile games, but they offer more immersive experiences. They also have longer life cycles, which means that they are typically played for a longer period of time. This makes them more valuable over the long term. The global video game market is dominated by two major players: Sony Corporation ( Japan) and Nintendo Co., Ltd. (Japan). Sony Corporation holds a 38% share of the global console game market, while Nintendo Co., Ltd. owns a 27% share of the global console game market. Google Inc. (US) has a 5% share of the global console game market, while Microsoft Corp.(US) has a 2
The global video games market is projected to reach $145.9 billion in 2021 as of May
Video games have long been one of the most popular forms of entertainment. They are also one of the most widely played media genres. In fact, video games are now more popular than movies among Americans! Video games have become so popular that they have even become a major industry. The global video games market is projected to reach $145.9 billion in 2021 as of May. This is up from $102.3 billion in 2017! The main drivers of this growth include increased spending on gaming devices, rising consumer interest in online gaming, and increasing demand from eSports athletes and spectators. Additionally, the growth of mobile gaming is contributing to the overall market growth. There are many different types of video games available on the market today. Some of the most popular genres include action games, role-playing games, racing games, and simulation games. If you are interested in learning more about the global video games market, be sure to check out our blog posts! We will be providing updates on the latest trends and developments in this exciting industry.
Reasons for the growth of the market
Video games have been around for decades, and they continue to grow in popularity. The global video games market is forecasted to reach $115.2 billion by 2021, according to MarketsandMarkets. Several reasons contribute to this growth, including the increasing affordability of gaming devices and the expanding market for mobile games. Another factor that has contributed to the growth of the video games market is the increasing trend of eSports. This refers to competitive gaming events that receive large audiences, often rivaling traditional sports events. For example, the League of Legends World Championship drew a total viewership of 2.3 billion viewers in 2018. This suggests that there is a lot of interest in video games among mainstream audiences. Overall, the global video games market is projected to grow rapidly over the next several years. This indicates that there are plenty of opportunities for businesses involved in this industry.
Market shares and trends
The global video game market is expected to grow from USD 94.8 billion in 2017 to USD 144.5 billion by 2027, at a CAGR of 7.2%. The market is forecast to be dominated by mobile gaming (61%) and online gaming (38%), with console gaming declining over the years (4%). Major regions include North America (US and Canada), Europe, Asia Pacific (China and Japan), and Latin America. Some of the key companies driving this market include Sony PlayStation, Microsoft Xbox, Nintendo Wii U, and Google Android. These companies are vigorously competing for a share of the global video game market. In terms of hardware, Sony has been the leading player with its PlayStation Portable, PlayStation 4, and PlayStation Vita consoles. Microsoft has been lagging behind with its Xbox 360 console but is now aggressively marketing its Xbox One console. Nintendo has been focusing on handheld devices such as the Nintendo 3DS handheld console and the Nintendo Wii U console. Google Android has been gaining ground as a dominant platform for mobile gaming.
