According to Fact.MR, the global market for video games is expected to witness a sluggish growth during the forecast period, 2017-2022, and will reach a value of nearly US$ 140 Bn by the end of 2022.
Rockville, WA -- (SBWIRE) -- 07/12/2018 -- The global video games market is likely to flourish in the next few years, thanks to the rising number of people who are interested in looking for interactive gaming options. In addition to this, the rising popularity of video games among youngsters is predicted to accelerate the growth of the overall market in the next few years. Some of the key players in the market are entirely offering games for the console platforms, which is likely to enhance market growth. Some of the key types of games in the video games market are arcade, adventure, action, causal, children's entertainment, sport games, shooter, racing, roe-play, and strategy are some of the other important factors that are estimated to offer promising growth opportunities for the market players in the next few years.
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Rising Use of Social Networking Sites to Drive Video Games Market
The strong growth of the video games market in the last few years can be attributed to the increasing time that is being spent by people on social networking sites, such as Facebook. The development of lifestyle and the increasing disposable income are further projected to accelerate the growth of the overall market in the coming few years. In addition to this, the rising awareness among parents regarding the educative use of video games for their kids is another major factor that is projected to boost the growth of the overall market in the coming few years. On the other hand, the high cost of high-end video games is one of the major factors, which is expected to curtail the growth of the global market in the next few years. Moreover, the rising online piracy by making use of torrents and other related software are some of the other key factors that are estimated to restrict the growth of the market in the next few years.
Nevertheless, the key players operating in the global video games market are focusing on innovations and developments, which are projected to enhance the growth of the overall market in the next few years. In addition, the increasing marketing and advertising activities are also predicted to enhance the growth of the market and support the players in enhancing their market penetration across the globe.
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Increasing Use of Mobile Phone to Encourage Growth in North America and Europe
Among the key regional segments, North America and Europe are anticipated to witness healthy growth in the next few years. The increasing use of mobile phones and the rising popularity of gaming among youngsters are considered as the key factors that are projected to encourage the growth of the North America market in the next few years. Furthermore, Asia Pacific is estimated to register a steady growth in the next few years, thanks to the rising disposable income of consumers, especially in developing economies. Moreover, the increasing willingness of consumers to spend more on entertainment is projected to encourage the growth of the video games market in Asia Pacific in the next few years.
The global video games market is expected to observe a fast growth in the next few years and is projected to witness a high level of competition in the next few years. The leading players operating in the video games market across the globe are THQ Nordic (Nordic Games GmbH), Disney Interactive Studios, Supercell Oy, Konami Holdings Corporation, Nintendo Co. Ltd., Electronic Arts Inc., Sony Corporation, Zynga Inc., King Digital Entertainment Plc., Microsoft Corporation, Vivendi SA, Ubisoft Entertainment SA, Activision Blizzards Inc, NVIDIA Corporation, Sega Games Co., Ltd., and Take-Two Interactive Software Inc.
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