On September 22nd, a new report was released by Fortune Business Insights. In this survey, it was revealed that the global gaming market is expected to be worth $545.98 billion by 2028. Based on these figures, the market is expected to grow at a compound annual growth rate of 13.20% between 2021 and 2028.
“Online video games have become more prevalent in recent years,” the article reads. “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. 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.”
Fortune Business Insights said that the global gaming market was valued at $203.12 billion in 2020. This means that the market is expected to grow by $342.86 billion from 2020 to 2028.
(All information was provided by Yahoo! Finance)