According to the Transparency Market Research report on the global gaming market, titled “Gaming Market – Global Industry Analysis, Size, Growth, Share and Forecast 2011 – 2015,” the global market of gaming, which was worth USD 70.5 billion in 2011, will reach an estimated value worth USD 117.9 billion by the year 2015. For this to happen, this industry will have to observe a year on year CAGR of 13.7% during the forecast period of the report, 2011 to 2015.
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According to the report, the region of Asia Pacific is estimated to be the fastest growing segment for the market during this time. The growth of this market, as estimated by the report shall be driven by technical advancements in gaming gadgets and devices and the rising number of internet users.
Segmentation according to gaming types such as hand held video games, online and offline computer games and mobile games.
Gaming is an excellent entertainer and millions around the world take up games to kill their time. Over the course of time, a wide variety of games has been developed and people have adopted all those emergent gaming methods in huge numbers. Even now, people who are looking for exciting new games that give doses of interactive entertainment are not less and the unending consumer interest has given rise to the enormous growth opportunities of the gaming industry.
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End-users of the gaming world range between the ages of 5 to 50 years.
The gaming industry can broadly divided into software and hardware market with the software segment comprising of software packages and support mechanisms for games while the hardware market comprising of sub segments such as game consoles, computers, laptops, tablets, mobile phones and other emerging technologies.
Though it contains very few sub segments, the software segment accounts for the maximum share of the market when the revenues are considered. This is
followed by the online gaming market.
The market of online gaming is primarily driven by the rise in users of personal computers and handheld devices such as laptops, tablets and smart phones. The widespread use of internet and the rising number of its users also significantly ads to the growth of online gaming.
Factors such as the easy access to high speed internet in the far corners of the world, rising interactivity in games and efficient hardware compatibility are the drivers of this market, according to the report.
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However, factors such as fraudulent software that is capable of inducing malware in personal computing devices and maturation and innovation in the entertainment industry could hinder the growth of the gaming market.
Nevertheless, the gaming industry provides huge growth opportunities fro innovative and smart ideas and the developers of such ideas would keep on generating revenue no matter how some factors hinder popularity of this market.
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