On July 28th, Fortune Business Insights released a new survey providing an analysis of the global gaming market between 2021 and 2028. Based on this study, the global gaming market will be worth $545.98 billion by 2028, registering a compound annual growth (CAGR) of 13.20%.
This report divided the market into several genres including shooter games, action games, sports games, role-playing games, and so on. In 2020, the shooter game genre held the highest market share at 23.35%. That segment is expected to experience considerable growth during the aforementioned forecasting period.
As usual, the APAC region will hold the highest position in the market during the forecast period. In 2020, this region’s market was worth $86.96 billion.
“Online video games have become more prevalent in recent years,” the report 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.”
(All information was provided by GlobeNewswire)