With constant internet growth and technological innovation, certain markets have begun to flourish. The online gaming universe is one such market. Also known as iGaming, which was mostly common with the younger generation, nowadays, attracts people across all different ages and genders.
The online gaming market is the one in which the associated players make their moves in real time scenario, sitting at different places, connected to a server. This makes the game interesting as it add up a new behavioral response to different players at different times as the players change almost every time.
Online Gaming Market: Drivers and Challenges
Some of the drivers for the online gaming market include its popularity among people, especially among youngsters, for entertainment purpose. Also, upgrades in the gaming interface and use of new technologies such as interaction abilities in the online gaming is fueling the growth of the market. Other factors which also contribute to the growth of online gaming market are the increased spending ability of the people, growth of smartphone market, growth of mobile devices and other hardware market which are compatible for online gaming like consoles, desktops, graphic cards etc., and high speed of internet provided by the Telecoms.
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One of the restraint for online gaming market are the regulations which revolve around the online gaming market. A particular set of online games which include gambling and money are highly regularized and are looked after by some regulatory bodies which is restricting the increase of user base for the online gaming market. One other restrain for the market is the tax allocated to the manufacturer of the games after the revenue generation, restricting the growth of the online gaming market.
Online Gaming Market: Segmentation
The online gaming market can be segmented on the basis of type, player age group and region.
On the basis of type, the online gaming market can be divided into;
- Mobile Games Pay-to-Play Games Free-to-Play Games Pay-in-Play Games
The segment tells about the types of online games which are available in the online gaming market.
On the basis of player age group, the online gaming market can be divided into;
- Below 10 Years 11-18 Years 19-24 Years 25-34 Years 35-44 Years 45 and Above Years
The segment tells about the age group of players in online gaming market.
Online Gaming Market: Key Players
Some of the key players of Online Gaming Market are: Peak Games, Gree, Electronics Arts, Bwin. Party Digital Entertainment, King Digital Entertainment, Arkadium, Playdom, Fun Technologies, Riot Games, NCSOFT, GungHo Online, Giant Interactive, Zynga, Wargaming, Tencent, Microsoft, Sony Corp., Activision Blizzard, Ubisoft, Sega, Konami, Valve and Others.
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Online Gaming Market: Regional Overview
On the basis of geography, Online Gaming market can be segmented across North America, Latin America, Western Europe, Eastern Europe, China, SEA and other APAC, Japan, and Middle East & Africa. Among various regions, the Online Gaming market in SEA and other APAC is expected to grow at a fast rate while the market will be dominated by North America in terms of value during the forecast period. North America region is expected to be followed by China and Japan.
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