Digital Gaming Market Size, Share, Growth, and Global Industry Analysis by Type (Free-to-play and Pay-to-play) By Application (Mobile Devices, PC, TV, and Gaming Console), Regional Insights, and Forecast To 2031

Updated On: 08 April 2024

DIGITAL GAMING MARKET REPORT OVERVIEW

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The global digital gaming market size was USD 190430 million in 2021 and is expected to reach USD 883475.06 million in 2031, exhibiting a CAGR of 16.4% during the forecast period.

A digital game is a platform that is aimed to deliver a collaborative experience to the participant for both educational and commercial purposes. The virtual setting delivered by the digital games does not maximize players by physical space. It includes a huge range of traditional and television actions centered on digital tools. Modern technologies have delivered innovative stages to digital gaming by assimilating diverse features, for instance, speech recognition, 3D gaming, and GPS tracking to deliver players with real-life experiences.

The growing demand for the freemium subscription model, increasing adoption of electronic devices, and growing internet saturation are some of the key factors fueling the growth of the global digital gaming market.

COVID-19 Impact: Lockdown Restrictions to Positively Affect Market Growth. 

The global COVID-19 pandemic has been unprecedented and staggering, with digital gaming experiencing lower-than-anticipated/higher-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden rise in CAGR is attributable to the digital gaming market growth and demand returning to pre-pandemic levels once the pandemic is over.

The COVID-19 pandemic stole a severe toll on the global economy, and the video game business sustained to display extraordinary progression. The lockdown limitations on the movement of people forced by governments in various countries as part of their struggles to capture the spread of coronavirus enforced people to stay inside and devote their time to numerous indoor activities. Comprising playing video games, thus motivating the number of consumers and the total number of hours consumed on playing online games. Numerous gaming corporations also unconstrained their online games for free downloading.

LATEST TRENDS

"Increasing Demand for High-Speed Internet to Bolster Market Progress"

The high-speed internet and numerous extra system tools have delivered performers with high-quality gaming with live streaming. Digital games are considered to play with a digital electronic scheme such as a processor, electronic game console, mobile device, or communicating TV. It is a communication stage one or more performers proposed to deal with a virtual atmosphere and user-controlled capability for entertainment and educational drive. Moreover, it allows customers to experience immersive and digital methods of games created out of real-life and imaginary circumstances. Key digital game suppliers emphasize on the expansion of innovative goods to enable the inclination of online gaming.  

DIGITAL GAMING MARKET SEGMENTATION

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• By Type Analysis

By type, the market is segmented into Free-to-play and Pay-to-play.

• By Application Analysis

Based on the application, the market is classified into Mobile Devices, PC, TV, and Gaming Console.

DRIVING FACTORS

"Technological Advancements to Facilitate Industry Progress"

Improvements in technology and persistent invention in both hardware and software to improve the real-time version of visuals are estimated to fuel the growth of the market in the coming years. The propagation of smartphones, the rising internet penetration, and the easy accessibility of games online are anticipated to donate to the development of the market.

The rising approval of e-sports games and the growing total of expert gamers are also motivating the sales of the digital gaming market. The probable of gaming as a learning device to mature intellectual education is also being discovered. The idea of ‘gaming to learn’ is stagnant in its budding stages but achieving traction slowly.

"Increasing Adoption of Virtual Games to Magnify Market Growth"

The growing demand to aim PC sports digitally is backing the progress of the market. The benefit of suitability, cross-buying, and easy stock that are delivered by digital spreading compel the performers to contact access PC games digitally. The gamers can get pre-loaded tournaments once they are pre-ordered and will have instant access to the sports the instant they are launched in the market. 

Another element that is anticipated to enhance the demand for virtual games is the increase in the competitive gaming business. The virtual gaming industry has covered the method for a range of online streaming podiums such as Twitch and YouTube among others. The beginning of these streaming platforms has played an important part in dragging in large viewers and improving funding contracts with connected announcers and individual streamers.

RESTRAINING FACTORS

"High Initial Cost to Impede Market Progress"

Digital games need enormous funds and time at an improvement step combined with the disruption of the operator from the regular tasks and take a lot of time for the employer to mature talents from these games, thus adversely impacting their presentation which is anticipated to act as a limitation in the growth of global digital gaming market.

DIGITAL GAMING MARKET REGIONAL INSIGHTS

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"Technological Advancement to Bolster Growth in Asia Pacific"

Asia Pacific is expected to dominate the digital gaming market share. This is owing to the possible rate in terms of income owing to the growing number of players, increasing disposable income, and technological advancements in this region. Moreover, growing disposable income in emerging countries such as India and China is also anticipated to drive the growth rate of the digital gaming market. 

North America is anticipated to have a sizable market share. This is due to the presence of prominent players and a great consumer base as the people in the region are more motivated to console gaming due to their high earnings and affordability. 

KEY INDUSTRY PLAYERS

Companies Adopt Technologically Advanced Production Techniques to Improve Market Position

The market research report offers a complete valuation of the market and covers considerate visions, details, past data, and statistically maintained and industry-validated market data. It also comprises forecasts using an appropriate set of expectations and procedures. The market research report delivers analysis and evidence according to market segments such as geographies, applications, and industry.

INDUSTRY DEVELOPMENT

• April 2022 - Activision Blizzard declared its acquisition by Microsoft for 98% of its stocks. This acquirement will upkeep Activision Blizzard by augmenting its location in the gaming market and will also generate new prospects for its organizations.

List of Market Players Profiled

• Activision Blizzard (U.S.)
• Zynga (U.S.)
• Electronic Arts (U.S.)
• Wargaming (U.S.)
• Giant Interactive (China)
• GungHo Online (Japan)
• NCSOFT (South Korea)
• Smilegate (South Korea)
• Microsoft (U.S.)
• Riot Games (U.S.)

REPORT COVERAGE

This report covers an analysis of the leading sectors and recent market trends. It systematically covers the impact of COVID-19 and the driving and restraining factors. The report's market estimates are based on secondary and primary research and skilled in-house reviews. The report examines the most recent developments and the most profitable sets. It keeps track of the essential players' strategies and regional trends. It allows readers to learn about the critical methods that promote digital gaming market growth.