Technavio just released its gaming market industry report providing an analysis of the sector between 2020 and 2025. Based on this study, the global gaming market will grow by $125.65 billion during this forecast period registering a compound annual growth rate (CAGR) of 12%.
There are many different ways the global gaming market is segmented in this report. It includes type of game (casual, professional, etc.), device (mobile, console, PC, etc.), and region (APAC, MENA, etc.).
“The integration of blockchain technology in the gaming industry is enabling players to trade in-game virtual assets with other competing players and facilitate peer-to-peer transactions,” the report reads. “The technology is being adopted by several gaming companies and gaming console manufacturers. Microsoft recently announced its plan to roll out blockchain technology for Xbox. The integration of blockchain is expected to provide fast and secure payment networks and allow game developers to monetize their gaming services efficiently. The integration of blockchain technology will provide substantial growth opportunities for gaming companies during the forecast period, driving the growth of the gaming market size.”
56% of the market’s growth will come from the APAC region. China, Japan, and South Korea are expected to be some of the largest markets for gaming in the Asian-Pacific part of the world.
(All information was provided by PR Newswire)