A Breakthrough Innovation with New High-Growth Sectors in the Digital Gaming Market

Global Digital Gaming Market size was valued at?USD 198.43 Billion in 2021?and is projected to reach?USD 339.98 Billion by 2028, growing at a CAGR of?8.98%?from 2021 to 2028 according to a new report by Intellectual Market Insights Research.

Online gaming refers to the act of playing video games or other digital games over the internet, often with other players from around the world. Online gaming can be played on various platforms, including personal computers, gaming consoles, and mobile devices. Online gaming has become increasingly popular in recent years, with millions of players participating in various online games, such as massively multiplayer online games, first-person shooters, and sports simulations.

The integration of digital payment gateways onto real money gaming platforms has proven to be beneficial by making transactions quick and easy. The COVID-19 pandemic and subsequent government-imposed lockdowns forced people to stay indoors, leading to an increase in online gaming. These games became an important aspect of people's social lives in the virtual world. Further, as blockchain technology continues to evolve, it can provide a higher level of trust, which can be advantageous for real money gaming. Additionally, blockchain technology is opening up new revenue streams for real money gaming platforms through NFTs.

Get a Sample Copy of the Report: https://www.intellectualmarketinsights.com/download-sample/IMI-000378

Market Dynamics:

Drivers

Growth of Cloud Gaming

"Cloud gaming" is the practice of accessing faraway servers in data centers to play video games. The need to download and install games on a console or system is no longer necessary with cloud gaming. The delivery of data to a web browser or program running on the device that is receiving it, in contrast, depends on streaming services having a constant internet connection. Users must pay a monthly fee to use the sophisticated infrastructure used by cloud gaming businesses in order to broadcast content. The adoption of cloud technology has revolutionized the creation and usage of video and mobile games. With cloud gaming, players can use the newest games from anywhere, regardless of their hardware or location, as long as they have a reliable internet connection.

In contrast to game consoles, cloud-based games transfer the content execution from the console to the cloud. For example, Microsoft has altered to Xbox cloud gaming services from its Xbox consoles that utilize virtual Xbox boards on server farms, improving performance and facilitating streaming on larger devices. In a similar vein, in October 2020, Amazon unveiled Luna, a cloud gaming service, Luna reduces input lag in games by using a supplementary gamepad controller and a different Wi-Fi connection. In addition to this, there are rumors that Netflix would shift its attention to the gaming industry. Additionally, Google's Stadia merges its cloud architecture with the Google Cloud Platform (GCP). Consequently, this is likely to support the growth of the market within the estimated timeframe.

Restraint

Concerns with Identity Theft and Data Breaches

In order to create profiles of their potential targets, cybercriminals gather personal information. When playing online games with strangers, the chat function is one potential risk, as it enables communication with other players. Sensitive information like name, phone number, and home address can be obtained by criminals through the chat function. It is crucial to be cautious about the information shared during gaming.

Further, game publishers are vulnerable to attacks from hackers. If they manage to breach a publisher's systems, they can access various kinds of information ranging from source codes and games to the personal details stored in players' accounts. One of the well-known instances of such a breach was the one at Zynga, where hackers stole login information, such as usernames, passwords, and email addresses, of Draw Something and Words With Friends players. This breach compromised more than 172 million accounts and has been one of the largest data breaches ever recorded. As a result, these factors are likely to restrain the growth of the market during the forecast period.

Opportunities

Integration of 5G technology

When paired with?virtual reality?(VR) and?augmented reality?(AR), 5G can offer innovative mobile gaming solutions with real-time online capabilities. Cloud gaming is already expected to replace traditional gaming, and the arrival of 5G will provide consumers access to high-end console-like gaming experiences. The youthful population, rising smartphone adoption, and 5G will all contribute to mobile gaming becoming a billion-dollar industry.

Extended reality (XR) gaming experiences will be more realistic due to 5G's high bandwidth and low latency, which will also make multi-user experiences possible. Additionally, it will make it possible to organize sizable, platform-neutral events and social activities like in-game concerts where users may engage in fluid conversations with other gamers. High-quality mobile gaming will be made possible by 5G, which will also increase availability and levels the playing field for new gamers. These advancements are likely to create immense opportunities for the growth of the online gaming market in the years to come.

Digital Gaming Market Players Analysis:

·???????? Behaviour Interactive Inc., ?

·???????? Sony Corporation

·???????? GungHo Online Entertainment, Inc.

·???????? Microsoft Corporation

·???????? Tencent Holdings Ltd.

·???????? The Walt Disney Company

·???????? NEXON Co., Ltd

·???????? Sega Corporation

Growth Factors of Online Gaming Market

The year saw a rapid increase in e-sports participants and wide adoption of e-sports, which is likely to support the growth of the online gaming market during the forecast period. E-sports have enormous market demand and are propelling industry expansion in India and around the world. Video game competitions are known as?esports. E-sport competitions use popular multiplayer online games like Counter-Strike, Halo, and Call of Duty, and the winners receive cash or hardware.

The graphics and plot of many companies' games are being developed to appeal to players and be compatible with a variety of devices. The widespread adoption of smartphones has increased online gaming sales to their highest level. Consoles are being created by businesses so that players can have a better experience. Gamers may now find games from many publishers, including Arcade and Stadia, due to the cloud gaming service that online gaming businesses have launched.

Purchase this Report at ($ 2145): https://www.intellectualmarketinsights.com/checkout/IMI-000378?currency=2145

Report Highlights:

·???????? By Game Type, the sports games segment is expected to grow at a significant CAGR in the global online gaming market during the forecast period. This is owing to the advent of multiple sporting leagues across various economies along with the presence of various stars and the continuous interest of investors in this segment of the market.

·???????? By Business Model,?the play-to-earn segment is expected to grow at a considerable CAGR during the forecast period. This is one of the recent developments in the online gaming. This model offers financial benefits to every player that is been involved in the online gaming. The developers of the model offer the players with ownership of the NFTs i.e. in-game digital assets which is likely to support the growth of the segment in the years to come.

By Platform:

·???????? Flash

·???????? iOS

·???????? Android

·???????? Social Network

·???????? Others

By Subscription Model:

·???????? Premium

·???????? Paymium

·???????? Freemium?

·???????? Others

By Device:

·???????? Computers

·???????? Laptop

·???????? Smartphones

·???????? Tablet

·???????? Console Unit

·???????? Others

Regional Stance:

North America held a considerable revenue share in 2022. US held largest share in the region. This is attributable to the increase in regulated sports betting along with presence of significant players in the region. Further, the rising technological advancements to constantly improvise and evolve the games in this region are also likely to support the growth of the market across the region. Additionally, the increasing consumer spending is also expected to contribute to the regional growth of the market during the forecast period.

Asia Pacific is expected to grow at a fastest CAGR during the forecast period. The increasing adoption of advanced technologies such as blockchain along with the integration of 5G in the developing economies such as China and India is likely to contribute to the growth of the market in the region. Furthermore, the presence of large population of gamers coupled with increasing sponsorships and tournaments are also expected to support growth of the market in the region within the estimated timeframe.

Browse Full Report: https://www.intellectualmarketinsights.com/report/digital-gaming-market-size/imi-000378

About US:

IMIR? Market Research Pvt Ltd.

Intellectual Market Insights Research is a global market intelligence and consulting organization that provides syndicated research reports, customized research reports, and consulting services. We are known for our actionable insights and authentic reports in various domains including, Semiconductor, aerospace, Automation, Agriculture, Food & Beverages, Automotive, Chemicals and Materials, and virtually all domains and an exhaustive list of sub-domains under the sun. We create value for clients through our highly reliable and accurate reports.

IMIR has the distinguished objective of providing the optimal quality research and granular research to clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help answer your most important questions.

Follow Us: LinkedIn

Mr. Smit Patel

Phone: +1 412-730-2889

Email: [email protected]

Corporate Sales: [email protected]