Games Market: Gaming exceeds sales of music, film and sports in 2020

Games Market: Gaming exceeds sales of music, film and sports in 2020

Games Market

The gaming industry continues to advance and has now even exceeded sales in other entertainment areas such as music, films and sports year-on-year. The games market turned over almost 180 million US dollars last year.

This increased the result by 20%. Of course, the pandemic played a crucial role here. While other entertainment venues such as cinemas, concert halls or sports facilities had to remain closed for the time being, people were looking for distraction in everyday life by buying a console. Experts also expect further improvements in sales for the current year. Responsible for this are the next-gen consoles from Sony and Microsoft, which are difficult to get even months after the release. Almost half of gaming sales are again in the mobile sector. A total of $ 87.7 billion was recorded - a year-over-year increase of 24%.

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Source: MarketWatch

Global Video Games Market to Reach $293.2 Billion by 2027

FACTS AT A GLANCEEdition: 19; Released: May 2021Executive Engagements: 44627Companies: 1057– Players covered include Activision Blizzard, Inc.; Blizzard Entertainment, Inc.; King Digital Entertainment plc; Apple, Inc.; Atari SA; BANDAI NAMCO Holdings Inc.; Bluestack Systems, Inc; Capcom Co., Ltd.; Disney Entertainment; Electronic Arts, Inc.; EA Sports; PopCap Games, Inc.; Facebook, Inc.; Google LLC; iWin, Inc.; Konami Holdings Corporation; Konami Digital Entertainment Co. Ltd.; Konami Gaming, Inc.; Nintendo Co. Ltd.; Riot Games, Inc; Roblox Corporation; Rovio Entertainment Corporation; Sega Holdings Co., Ltd.; Sony Interactive Entertainment; Supercell; Square Enix Holdings Co. Ltd.; Square Enix Ltd; Take 2 Interactive Software, Inc.; Tencent Holdings Ltd.; Tetris Holding, LLC; Twitch; Ubisoft Entertainment SA; Unity Technologies; Valve Corporation; Xbox Game Studios; Zynga, Inc. and Others.Coverage: All major geographies and key segmentsSegments: Platform (Mobile Games, Console Games, PC Games, Other Platforms); Type (Offline, Online)Geographies: World; USA; Canada; Japan; China; Europe; France; Germany; Italy; UK; Spain; Russia; Rest of Europe; Asia-Pacific; Australia; India; South Korea; Rest of Asia-Pacific; Latin America; Argentina; Brazil; Mexico; Rest of Latin America; Middle East; Iran; Israel; Saudi Arabia; UAE; Rest of Middle East; Africa.

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ABSTRACT-Global Video Games Market to Reach $293.2 Billion by 2027Amid the COVID-19 crisis, the global market for Video Games estimated at US$156.8 Billion in the year 2020, is projected to reach a revised size of US$293.2 Billion by 2027, growing at a CAGR of 9.3% over the analysis period 2020-2027. Mobile Games, one of the segments analyzed in the report, is projected to record a 11.5% CAGR and reach US$153.5 Billion by the end of the analysis period. After an early analysis of the business implications of the pandemic and its induced economic crisis, growth in the Console Games segment is readjusted to a revised 9.2% CAGR for the next 7-year period.

The U.S. Market is Estimated at $36.4 Billion, While China is Forecast to Grow at 10.3% CAGRThe Video Games market in the U.S. is estimated at US$36.4 Billion in the year 2020. China, the world`s second largest economy, is forecast to reach a projected market size of US$82.4 Billion by the year 2027 trailing a CAGR of 10.3% over the analysis period 2020 to 2027. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 8.8% and 8.1% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 7.6% CAGR.

PC Games Segment to Record 5.1% CAGRIn the global PC Games segment, USA, Canada, Japan, China and Europe will drive the 5.2% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$26 Billion in the year 2020 will reach a projected size of US$37 Billion by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$34.6 Billion by the year 2027, while Latin America will expand at a 4.9% CAGR through the analysis period. More

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