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acquired Codemasters, a racing game platform, to expand its racing games and expects to launch a new racing game every year. that try to keep innovating and releasing next-generation gaming consoles provides significant competition among the rivals.įebruary 2021- Electronic Arts Inc. Key players in the market are Sony Corporation, Microsoft, Nintendo, etc. The Gaming Market is highly fragmented as the demand for online games and increasing penetration of mobile applications across the various region is catering to an intense rivalry in the market. Smartphone is Expected to Witness Significant GrowthĪsia Pacific to Hold the Largest Market Share
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In August 2020, AGS announced an agreement under which the leading game content supplier Intouch Games Ltd, through its Slot Factory content-development brand, would provide game content for AG S' real-money game aggregation platform serving many of the world's largest online real-money gaming operators. At the same time, Nintendo accentuated the growth of the Nintendo Switch Lite in 2020.
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Microsoft unveiled their competitor lineup consisting of the XBOX Series X and the XBOX Series S for the budget segment. Sony also unveiled the PlayStation 5, which features an enhanced controller and visual capabilities to improve the User experience.
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For instance, Sony Interactive Entertainment (SIE) announced the PC port of its 2017 release, Horizon Zero Dawn, and confirmed the release of Death Stranding on PC post its PS4 premiere. Some of the market's prominent vendors are also focusing on expanding their product portfolio, releasing new games and consoles in the market in multiple formats.
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According to a worldwide survey of technology company executives, startup founders, and investors, 59% of the respondents believe that gaming will dominate the investment directed to the development of VR (Virtual Reality) technology. Companies such as BigScreenVR and AltspaceVR are some of the prominent players in this segment.Īccording to NewGenApps, by 2025, AR and VR games' global user base is estimated to increase to 216 million users. Moreover, the increasing applications of immersive technologies, such as virtual reality, augmented reality, and mixed reality, are anticipated to be a cornerstone in the gaming industry. Also, by partnering with Migu, Archiact states that it can work together to build the future of 5G VR cloud gaming, making VR even more accessible. For instance, in May 2020, Archiact announced its partnership with Migu (a subsidiary of telecom provider China Mobile) for Archiact's games that would be the first VR games to be playable via Migu's 5G cloud gaming platform, named Migu Quick Gaming. Such factors have an anticipated positive impact on market growth.ĥG is also driving the mobile-based VR gaming market. Among those subscribers, Microsoft also reported a 130-percent increase in multiplayer engagement across March and April.Ĭloud gaming is an emerging technology across the industry that allows users to stream high-end games across hand-held devices, such as laptops, tablets, and mobiles, with fast network connectivity, eliminating the need for a dedicated gaming console/PC.Ĭloud gaming services are focused on leveraging hyper-scale cloud capabilities, global content delivery networks, and streaming media services to build the next generation of social entertainment platforms. In April 2020, Microsoft reported that subscribers to Xbox Game Pass, a Netflix-like subscription service, topped 10 million. Video gaming trends have experienced a massive surge in players and revenue recently.Ĭompanies like Microsoft, Nintendo, Twitch, and Activision have all reached new heights in player investment. These platforms are attracting more than hundreds and thousands of new visitors in online traffic. The global gaming market was valued at USD 173.7 billion in 2020, and it is expected to reach a value of USD 314.40 billion by 2026, registering a CAGR of 9.64% over 2021-2026.ĭue to nationwide lockdown, people stay home, and some turn to game platforms to pass the time. DUBLIN-( BUSINESS WIRE)-The "Gaming Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)" report has been added to 's offering.