Market Analysis

At the end of 2021, the global gaming market had reached an impressive US $184.6 billion in value. Looking forward, the IMARC Group anticipates the market value to reach US $314.8 billion by 2027. This projection is based on a CAGR of 9.2% for the years 2022-2027. With the ever present issue of COVID-19, we are continuously monitoring and evaluating both direct and indirect influences of this global affliction. These considerations are included in the report as a major market contributor.

Gaming, also known as video games or electronic games, refers to a computer application that is played with a certain set of rules. Games involve mental and sometimes physical stimulation. Games provide both entertainment and a way to relax for the players, and even for spectators. Gaming is a powerful vehicle used to assist children in developing various skills or aid educators in ways to facilitate classroom teaching. With the advent of advanced graphic engines and other new technologies - the gaming industry is going through a revolution!

Furthermore, the growth of blockchain games, developed on the free-to-play and play-to-earn models, is another trend that continues to gain traction in the gaming market. With the increasing popularity of esports, multiplayer video game competitions between pro and novice players, the gaming market is enjoying rapid growth across the globe!