Online Gaming is a type of video gaming that is partially or primarily played through the internet. Online gaming offers video interactions with the features of multiplayer options. It is played over the computer and mobile network. The shift in new innovation in both hardware and software in the streamline of online gaming and the development in unique technological advancement in the field of multiplayer gamer, video gaming, the shift in smart devices and consumer preferences in indoor online gaming which involves interaction with other people drive the growth of online gaming in the market. According to Statista, in 2019, the segment of online gaming across India was distributed equally under which PC and console-based games accounted for 36%, and mobile-first gamers are not far behind, amounting to 33% of the market and also in 2020, India had recorded around 365 million online gamers. However, the innovation in new hardware technologies, as well as government interface and the higher gaming subscription charges, impedes the growth of the market over the forecast period of 2020-2027. Also, the rising penetration of internet services across the globe and ease of availability and access of online gaming through internet services is likely to increase the market growth during the forecast period.
Global Online Gaming Market is valued at approximately USD 21.3 billion in 2020 and is anticipated to grow with a healthy growth rate of more than 12.94 % over the forecast period 2021-2027 and is estimated to reach USD 49.6 billion by 2027.
The regional analysis of the global Online Gaming market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America, and the Rest of the World. The Asia Pacific is the leading/significant region across the world in terms of market share owing to the growing smartphone penetration increase in the number of gamers and increase in demand for entertainment Whereas, South Korea is also anticipated to exhibit the highest growth rate / CAGR over the forecast period 2020-2027. Factors such as the focus on E-sports and multiplayer online games would create lucrative growth prospects for the market across the Asia-Pacific region.
Major market players included in this report are Peak Games, GREE Inc, Microsoft, Sony Corp, Tencent, Activision Blizzard, Konami, NCSOFT, GungHo Online, and King Digital Entertainment.
The detailed segments and sub-segment of the market are explained below:
By Type: Puzzle, Action, Adventure, Arcade, Sports and others
By Platform: PCs, Consoles, Mobile Phone
By Gamer Type: Social Gamer, Serious Gamer, Core Gamers
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Bizwit Research & Consulting LLP