On August 24th, Fortune Business Insights released its new study entitled “Gaming Market, 2021-2028”. In this report, it was revealed that the global gaming market is expected to be worth $545.98 billion by 2028, registering a CAGR of 13.2% between now and then.
“Online video games have become more prevalent in recent years. Most people find online games attractive and a modest way to find free time from their hectic schedules. Moreover, during the pandemic, the inclination toward gaming increased dramatically,” the report reads. “Many companies such as Nintendo and Tencent witnessed an increase in their sales during the first quarter. The former showcased a profit of 41%, as it sold many of its games digitally. The demand for online games will be persistent in upcoming years, and this market is anticipated to boom during the forecast period.”
The global gaming market is expected to experience tremendous growth despite the negative impact caused by the COVID-19 Pandemic. In fact, Fortune Business Insights said the global gaming market was valued at $203.12 billion in 2020.
(All information was provided by Globe Newswire)
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