The world video gaming industry is predicted to record 9% yearly growth through 2013, to exceed $76 billion, according to Business Insights. Mobile and online gaming formats will fuel the market, with customers taking advantage of wider, faster and more mobile internet access. Console gaming, the market’s current segment leader, will see its rate of sales decelerate.
Since the first video game was launched on the market around 45 years ago, the video game industry has taken a central place in entertainment culture for children and adults alike. Far from the solitary habit it may have been traditionally, online gaming involves communities and is based on interaction.
Key Market Segments
• Climbing world demand for Massively Multiplayer Online Games (MMOG) is expected to push the market to over $14 billion by 2015, according to Global Industry Analysts. Technological developments along with faster, wider-reaching broadband connectivity are driving the market.
• The world social gaming market almost hit the $1.5 billion mark in 2010, reports Business Insights. The market is expected to reach close to $4 billion by 2015, with the US a leading region generating sales of $1.2 billion, followed by Japan at $570 million. There are currently 600 million social gamers worldwide, with China representing close to 110 million, followed by the US at 95 million gamers. By 2015, it is predicted there will be close to 275 million gamers in China and 150 million in the US. Leading game companies include Playdom, CrowdStar, Synga, Digital Chocolate and EA.
• With consumers connecting to the internet with smartphones, gaming has become increasingly mobile. More than 27% of smartphone subscribers have installed one game or more, with close to 35% having installed at least five on their phones, according to Visiongain. Mobile game makers, and phone and electronic device makers have been collaborating to capitalize on the trend...