The global video games industry will rise at a considerable pace driven by the massive investments in the integration of advanced concepts by major companies across the world. The increasing use of concepts such as AI and VR will emerge in favor of the growth of the industry. The recent coronavirus outbreak has brought major businesses to a standstill. The rapid spread of the disease has urged governments to take strict measures. Due to travel bans, video game manufacturers are likely to take a huge hit in the coming years. The report includes the impact on Covid-19 pandemic on the global video games industry and discusses how major companies are coping with this.
Video games have been in constant demand since the early 90s. The integration of technologically advanced concepts in video games has contributed to the increasing adoption of the product across the world. Recent technological advances have yielded a few exceptional products in recent times.
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According to a research by Fortune Business Insights, titled “Video Game industry Size, Share & Industry Analysis, By Gamer Type (Extreme, Casual), By Device Type (Smart Phones, Tablets, Laptops, Consoles), By Platform Type (Online, Offline), By Age (Between 10 to 20, Between 21 to 35, Between 36 to 50, Between 51 to 65) and Regional Forecast, 2019-2026,” the industry will benefit from the ease of availability of low-cost cloud platforms.
The use of concepts such as virtual reality and have enabled games with a real-time experience. The increasing demand for video games has encouraged several large scale companies as well as attracted newer start-ups over the past few decades. Accounting to the increasing product demand, investments have been pouring in this sector and this factor has also been pivotal to the growth of the overall video games industry. Additionally, the increasing internet penetration, coupled with the availability of low cost cloud platforms will have a massive impact on the growth of the industry in the foreseeable future.
List of companies profiled in the report:
Nvidia Corp.
Valve Corp.
Microsoft Corp.
Nintendo Co. Ltd.
Sony Computers Entertainment Inc.
Mad Catz
PlayJam
BlueStacks
Sony Computers Entertainment Inc.
Tencent Corp
Google’s Completes Acquisition of Typhoons Studio; Makes a Statement of Intent in the Gaming Industry
The report encompasses several factors that have contributed to the growth of the overall industry in recent years. Among all factors, the increasing number of company mergers and acquisitions has made the highest impact on the growth of the industry. In December 2019, Google announced that it has completed the acquisition of a game development studio ‘Typhoon.’ Through this acquisition, Google has expressed its intent of penetrating in the gaming industry across the world. Google’s acquisition of Typhoon is a huge statement by the company and will come out as a mark of serious competition in the industry. Accounting to the wide consumer base of the company, Google’s latest acquisition will not just help the company but will have a massive impact on the growth of the overall video games industry in the foreseeable future.
Asia Pacific to Emerge Dominant; Evolving industrys in Countries such as India and China to Aid Growth
The report analyses the latest industry trends across five major regions, including North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. Among all regions, the industry in Asia Pacific is projected to emerge dominant in the coming years. The rising demand and adoption of video games in this region will bode well for the growth of the regional industry. The evolving industrys in regions such as India, China, and Japan will contribute to the growth of the industry. The presence of several large scale companies will provide impetus to growth. Moreover, high investments by major companies in this region, towards the integration of advanced concepts will also emerge in favor of the growth of the industry in this region. The industry in North America will also witness considerable growth in the coming years owing to the increasing adoption of cloud-based servers by large scale companies.
Industry Developments:
January 2020: Tancent has announced that it will be investing in ByteDance to enter into the core gaming.
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