PRESS RELEASE
Published February 23, 2023
The Online Game Platforms Market Research focuses on the key trends prevailing in the global business sector. The existing Industry scenario has been studied and future projections with respect to the sector have also been investigated. Market study report comprises evaluation of numerous influential factors including industry overview in terms of recent developments in both historical and current situations, key companies, product/service application and types, key regions and marketplaces, forecast estimation for global market share, revenue and CAGR. Online Game Platforms Market Report is highly -intensive driven by high R&D investment and has strong product analysis to maintain growth and ensure long-term monetization with a forecast period of 2023-2029.
The size of the global “Online Game Platforms” market is anticipated to increase during the Forecast period at a CAGR of 10.3% (2029).
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The record is an in-depth evaluation of a wealthy supply of essential elements that are accountable for the development of the global Online Game Platforms market. The report splits the market length, through amount and value, based on application, type, and geography. The report profiles the important members in the enterprise, along with an itemized analysis in their positions against the global landscape.
Key players in the Online Game Platforms market include:
Tencent,Zynga,Sony Computer Entertainment,Electronic Arts,Ubisoft,Nintendo,King,Activision Blizzard,Apple,Square Enix,Sega,Microsoft,Snail
Industry News:
- May 2023 – Blizzard Entertainment introduced an action-packed mobile strategy game with Warcraft Arclight Rumble. This action-packed mobile strategy will be suitable for Android and iOS devices in select regions. The partnership comes with many benefits like players will be able to collect over 60 characters from throughout the Warcraft universe.
- March 2023 – Sony announced that it agreed to acquire Haven entertainment Studios Inc., a Montreal-based company. Founded in March 2021 with an investment from SIE, Haven Studios is headed by a team of world-class game developers with over 10 years of experience in some of the industry’s most popular games and franchises.
- February 2023 – Steam, a video game digital distribution service by Valve, launched Steam Deck, a handheld gaming computer developed in cooperation with Advanced Micro Devices. This device is offered in 3 variants with 16GB of RAM, and Zen 2 and RDNA 2 architectures as common and vary in storage with 3 specs that include 64GB eMMC PCLe Gen 2 internal storage, 256GB NVMe SSD (PCIe Gen 3 x4) internal storage, and 512GB high-speed NVMe SSD (PCIe Gen 3 x4) internal storage. The device also features a UHS-1 bus slot that supports SD, SDXC, and SDHC storage cards for extending the memory.
- In January 2023, Microsoft Corp. announced plans to acquire Activision Blizzard Inc., a leader in game development and interactive entertainment content publisher. This acquisition will accelerate the growth in Microsoft’s gaming business across mobile, PC, console, and cloud and will provide building blocks for the metaverse.
- In February 2023, Nintendo Co. Ltd continues its development expansion with the acquisition of long-time partner SRD. The deal is the latest step in Nintendo’s plan to expand its internal development capabilities.
- In June 2023, Tencent announced the acquisition of 85% ownership of Supercell, the massively profitable Finnish firm behind the hit game Clash of Clans, for around US$ 8.6 Billion
- In March 2023, Microsoft finalized its US $7.5 Billion deal to acquire ZeniMax Media, the parent company of Doom and Fallout studio Bethesda Softworks. The finalization comes just a day after Microsoft secured regulatory approval from the EU for the acquisition, and it will now bolster the company’s first-party Xbox games studios up to a total of 23.
The Online Game Platforms market is primarily split into:
Windows
iOS
Android
The Online Game Platforms market applications cover:
Teenager
Adult
Geographical segmentation:
- North America (United States, Canada and Mexico)
- Europe (Germany, France, United Kingdom, Russia, Italy, and Rest of Europe)
- Asia-Pacific (China, Japan, Korea, India, Southeast Asia, and Australia)
- South America (Brazil, Argentina, Colombia, and Rest of South America)
- Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa, and Rest of Middle East & Africa)
How is the U.S Emerging as a Video Games Hub?
The U.S market was estimated at nearly US$ 43 Billion in 2021 and is expected to register a CAGR of around 11% during the forecast period. Espousing gaming platforms, such as E-sports, drives the market in the country.
Furthermore, the arrival of cloud gaming and expanding internet penetration in the country, which is approximately 94% as of May 2021, according to the International Telecommunication Union, has further increased the average time spent across digital media by an adult. These factors are driving the digital gaming market in the country.
Why is the Video Games Industry Flourishing in China?
The mobile gaming market in China is presently the most popular in the world and is one of the most lucrative. In 2021, China’s mobile gaming revenues cultivated by 31% to a value of nearly US$ 30 Billion.
Moreover, technical innovations, expanding market demographics, and an increase in video game-related merchandise have all contributed to the video game industry’s new scope. China retains its position as the world’s largest gaming market in 2021 with 55% of the total global players. Sales especially picked up pace in the post-pandemic period, registering over a 15% gain in Q3 2021, racking up US$ 10.4 billion in revenue.
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*Emerging Popularity of PlayStations and Mobile Games to Proliferate the Demand for Video Games
Sports games or more popularly e-sports have cemented the way for a new phenomenon in the video games industry. With the rapid advances in processing units used in gaming consoles, the demand for video games across the world has multiplied manifold.
Besides, with developments in computer graphic techniques, video games bring a feeling of more immersive experiences for gamers. These advances have been so massive that experts suggest gaming technology is no longer a constraint but an enabler in the rapid growth of the market globally.
What to Expect From This Report on Online Game Platforms Market
- You can make the developmental plans for your business when you have information on the value of the production, cost of the production, and value of the products, and more for the next five years.
- A detailed overview of regional distributions and the overview types of popular products in the Market.
- How do the major companies and mid-level manufacturers make a profit within the Market?
- Estimate the break-in for new players who want to enter the Industry.
- Detailed research on the overall expansion within the Online Game Platforms Market that helps you decide the product launch and asset developments.
Blockchain-based gaming
With powerful data encryption techniques, gaming is set to become secure from hackers and middle-way thefts in online transactions. The technology is likely to make in-game purchases even safer and more frequent. It’s anticipated that by end of 2023 people will make USD 200 Billion worth of in-game purchases.
Metaverse Gaming
Since the debut of video games on Metaverse has become hype, many gaming studios and companies have started carving the first game in Metaverse. The market in Metaverse games is anticipated to cross a valuation of USD 710.21 Billion by 2027. NFT sales in 2021 amounted to USD 25 Billion from USD 94.9 Million in the previous year 2020. This is anticipated to increase in the forecast period owing to rising virtual reality in Metaverse gaming. NFT also initiated the “play to earn” (P2E) model which encourages people to play games by offering financial incentives.
Key Opportunities:
The report analyses the Online Game Platforms Market’s key opportunities and identifies the factors that are driving and will continue to drive the industry’s growth. It considers past development designs, drivers of development, as well as flow and future patterns.
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The Study Objectives of the Online Game Platforms Market are:
- To investigate and explore the worldwide limit, creation, esteem, utilization, status, and conjecture.
- Focus on key Online Game Platforms manufacturers and study capacity, production, value, market share, and development plans for the coming years.
- Focus on global key manufacturers, identify, describe and analyze the market competition environment, SWOT analysis.
- Define, describe and predict the market by type, application, and region.
- To examine the worldwide and key district’s market potential and benefit, opportunity and challenge, restrictions and dangers.
- Identify key trends and factors that drive or hinder the Online Game Platforms market growth.
- To dissect the open doors on the lookout for partners by recognizing the high development sections.
- To decisively dissect each submarket for individual development pattern and their commitment to the Online Game Platforms
- To separate forceful progressions, for instance, expansions, game plans, new thing dispatches, and acquisitions keeping watch.
- To decisively profile the participants and thoroughly break down their development systems
We offer customization on the Online Game Platforms market report based on specific client requirements:
- 20% customization.
- Five Countries can be added as per your choice.
- Five Companies can add as per your choice.
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- After-sales support for 1 year from the date of delivery.
Thank you for your interest in the Online Game Platforms Market research publications; you can also get individual chapters or regional/country report versions such as Germany, France, China, Latin America, GCC, North America, Europe or Asia.
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