The following companies as the key players in the global gaming market: Activision Blizzard, Electronic Arts, Microsoft, Nintendo, Sony Interactive Entertainment, Tencent, and Ubisoft Entertainment.
Other Prominent Vendors in the market are: BANDAI NAMCO Entertainment, ChangYou, DeNA, Disney, Facebook, Google, GungHo Online Entertainment, King Digital Entertainment (King), KONAMI, NCSOFT, NetEase, Nexon, Mixi, SEGA, SQUARE ENIX, Take-Two Interactive Software, Warner Bros. Entertainment, and Zynga.
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Commenting on the report, an analyst from Technavio’s team said: “The latest trend gaining momentum in the market is Emergence of cloud gaming. Cloud services like Netflix, Pandora, Spotify, and YouTube have become the predominant modes of video and music streaming to TVs, PCs, and tablets.
Large cloud-managed libraries of content allow users to stream this content at a time and place of their convenience. Cloud gaming technology similarly enables users to stream video games from the web.
Grid computing is used to stream the content to the gamers' devices using wired or wireless broadband connections.”
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According to the report, one of the major drivers for this market is Rise in smartphone and tablet use. The electronic gadget market is undergoing immense growth primarily in the consumer electronics sector with smartphones and tablets seeing rapid rise in demand.
As smartphones and tablets are being upgraded with advanced storage and processing capabilities, they are replacing other gadgets such as digital players, MP3 players, and smart televisions. As of 2016, 1,599 million units of smartphones were sold worldwide.
This was 60 million units higher than the number in 2015. Apple iPhone 7, Samsung Galaxy S8, and Google Pixel are among the best smartphones providing HD displays and advanced system-on-chip (SoC) features, which make them ideal for use in gaming.
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Further, the report states that one of the major factors hindering the growth of this market is Multi-platform functionality. The gaming industry is becoming increasingly competitive despite being new in the consumer market in relation to several other entertainment industries.
The industry has seen substantial growth in the number of publishers over the last few years, most of which are independent and pose significant challenges to established publishers such as Electronic Arts and Nintendo. The increasing competition has led to several games titles flooding the gaming market.
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The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors.
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