In a recent published report, Kenneth Research has updated the Market report for Digital Gaming Market for 2021 till 2030. Report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In the view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to be regain 25% by the end of 2021- Positive Growth in the economic demand and supply.
U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) average exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilst imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Digital Gaming Market Products.
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According to the statistics by the World Bank, the exports of ICT goods globally increased from 11.164% of total goods exports in 2017 to 11.53% of total goods exports in 2019. Additionally, exports of ICT services increased from 5.61% of service exports (BoP) in 2001 to 10.37% of service exports (BoP) in 2017.
“Final Report will add the analysis of the impact of COVID-19 on this industry.”
India is emerging to be a popular outsourcing destination for global gaming companies due to the high availability of skilled game developers and a rapid upsurge in the country’s gaming market. Increase in internet and smartphone penetration, improved digital payment infrastructure, applications available on various platforms like Android, iOS and Microsoft Windows, advancement in technologies, rising income level, and change in game preferences are the main reasons for this popularity.
Digital gaming includes different genres which can be played across single-player, multi-player and massively multi-player formats in devices like mobile, computer and through console devices. Currently, the Indian gaming industry is witnessing a paradigm shift from console gaming to mobile gaming mainly due to the growth and improvement of wireless connectivity in the country. Various mobile gaming companies are focusing on increasing adoption of Platform as a Service (PaaS) as this is expected to help companies in creating games in a short span of time.
Market segmentation
On the basis of technology, the Indian digital gaming market is segmented into mobile gaming, computer gaming and console gaming. Mobile gaming holds the largest share of the market. In India, strategic games like Clash of Clans, Call of Duty and Counter Strike are played mostly. On the basis of the number of game downloads, Supercell, Elex Technology, Gameloft, Octro and Zynga Game Network are the major mobile game providers in India.
Key growth factors
o With the global rise in smartphone ownership, India has the second highest smartphone users. It has been found that smartphone users in India spend four hours per day on gaming apps.
o Technology is playing a key role in the Indian digital gaming industry. Due to the recent advancements in technology, many of the latest new games are incredibly life-like and attractive to the users.
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The Market report answers the following questions:
Threats and key players
o In India, pirated games are easily available across various online sources as well as in CD/DVD formats, which enable the gamers to play their desired games for free or at low costs. It is considered to be one of the major issues faced by the game development companies.
o 99Games Online Pvt. Ltd., Creatiosoft Solutions Pvt. Ltd., Dhurva Interactive, Electronics Arts Games India Pvt. Ltd., Gameloft Software Pvt. Ltd. and Nazara Technologies Ltd. are some of the major players operating in the Indian digital gaming market
What is covered in the report?
1. Overview of the Indian digital gaming market
2. Historical, current and forecasted market size data for the Indian digital gaming market (2016 to 2023)
3. Qualitative analysis of the Indian digital gaming market and its segments (by technology- mobile gaming, console gaming and computer gaming, by types of games – strategy, casual, action, sports, simulation and others)
4. Qualitative analysis of the major drivers and challenges affecting the market
5. Analysis of the competitive landscape and profiles of major players operating in the market
Why buy?
1. Get a broad understanding of the digital gaming market in India, the dynamics of the market and current state of the sector
2. Strategize marketing, market-entry, market expansion and other business plans by understanding the factors driving growth in the market
3. Be informed regarding the key developments in the digital gaming market in India
4. Understand major competitors’ business strategies and market dynamics and respond accordingly to benefit from the market
What is the aim of the report?
- The market report presents the estimated market size of Digital Gaming Market by the end of forecast period. Additionally, the historical and current market size is also examined in the report.
- Based on various indicators, the Year on Year growth (%) and compound annual growth rate (CAGR) for the given forecast period is offered.
- An overview of the Market based on geographical scope, market segmentation and financial performance of key players is presented in the report.
- The report presents current trends in the industry and future scope of the Market in North America, Asia Pacific, Europe, Latin America and Middle East and Africa.
- The various parameters accelerating the growth of Market are incorporated in the research report.
- The report analyzes growth rate, market size and valuation of the Market during the forecast period.
What aspects regarding the regional analysis Market are included in this report?
- Geographical regions covered in the report include North America, Europe, Asia Pacific, Latin America and Middle East & Africa region.
- The report consists of detailed region-wise analysis of current and future market trends, providing information on product usage and consumption.
- The growth rate of the market in every region, including their countries over the forecast period is included in the market report.
Based on what factors are the key market players assessed in this report?
- The report offers detailed analysis of leading companies in the market across the globe.
- It provides details of the major vendors involved in the Market including Key Playes
- A comprehensive overview of each company including the company profile, generated revenue, pricing of goods and the manufactured products is incorporated in the report.
- The facts and figures about market competitors along with standpoints of leading market players are presented in the report.
- The recent developments, mergers and acquisitions related to mentioned key players are provided in the market report.
What is the key information extracted from the report?
- Extensive information on factors estimated to affect the Market growth and market share during the forecast period is presented in the report.
- The report offers the present scenario and future growth prospects Market in various geographical regions.
- The competitive landscape analysis on the market as well as the qualitative and quantitative information is delivered.
- The SWOT analysis is conducted along with Porter’s Five Force analysis.
- The in-depth analysis provides an insight into the Market, underlining the growth rate and opportunities offered in the business.
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