ALBANY, New York, October 13, 2014 /PRNewswire/ --
According to report published by Transparency Market Research based on "Global Gaming Market - Global Industry Analysis, Size, Growth, Share and Forecast 2011 - 2015", the global market was worth $70.5 billion in 2011 and is further expected to reach $117.9 billion in 2015, growing at a CAGR of 13.7% from 2011 to 2015.
After the world economy was affected due to some financial decline in 2008, the gaming market picked up rapid growth and expansion since 2009, and the boom in this industry was observed till 2011. This global market has grown because of emerging number of game users who consider gaming as an effective tool of entertainment. The range of such users is from the age group of 5 to 45 years. Whether at home or at a game store, playing interactive games has become one of the most popular ways of entertainment to engage with friends and pass the time. Also, with stunning special effects, and availability of 2D and 3D animation games, this market has grown increasingly impactful and sophisticated over the years.sd
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Through games, consumers desire to have an exciting world of interactive entertainment at their fingertips. This aspect has fueled the growth of major market players like Sony, Nintendo, and Microsoft. Some other new key participants include Disney Entertainment, Apple, Zynga, Viacom, Ubisoft, and EA sports. It is the consumer's interest in this entertainment world that has reflected into robust expansion of the market.
Considering the global gaming market in terms of geographical distribution, the market has been divided into four major regions, Europe, North America, Asia-Pacific and Rest of the World (RoW). According to this study report, Asia-Pacific region is the rapid growing geographical segment in the overall global market. The demand for games in this region is expected to increase till 2015, and will continue to rise in the upcoming years due to increasing number of internet users and advanced gaming features.
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Moreover, the market is distributed into hardware market and software market. The hardware market is made up of the physical instruments such as, PC, Laptops, Tablets consoles, Mobile, Gaming Hardware tools, and more. On the other hand, the software market comprises the new gaming software development. The software market holds maximum share in revenue generation as compared to the hardware market which is subsequently followed by the revenues due to the online gaming market. The online gaming is classified into mobile users and internet users, and the market revenue for the same has been estimated for the period 2011 to 2015, considering 2010 as the base year.
The market for games has a vast scope in the industry in years to come. Some of the notable drivers in the gaming industry are sophisticated gaming techniques, increased disposable incomes, availability of high speed internet connectivity, and efficient hardware compatibility. However, innovation, maturation, and fraudulent gaming activities prove to be the restraining factors in the growth of this market.
The report provides the global outlook of the Gaming market, its market revenue (2010-2015), market forecast for gaming hardware, software and online gaming in each regional market for the period (2011-2015), in terms of USD million, as well as discusses the overview and detailed market figures on the global front. It also identifies the driving and restraining factors of the market, providing extensive analysis of the industry, applications, current market trends, and different challenges to gain better understanding of the entire market structure.
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