The analysts forecast global gaming market to grow at a CAGR of 6.94% during the period 2018-2022. One trend in the market is emergence of free-to-play gaming for console platform.
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Free-to-play business model is the one wherein the game is free to play for the gamers. However, the revenue is generated using in-app purchase which is used to upgrade the games or by ads shown in the game.
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Major key players in the global gaming market: Activision Blizzard, Electronic Arts, Microsoft, NetEase, Sony, and Tencent.
According to the gaming market report, one driver in the market is growing adoption of AR/VR gaming. VR and AR technologies are gaining acceptance worldwide.
The growing availability of headsets that support the technologies and the option to integrate these technologies in smartphones are key reasons for their rising popularity.
Further, the gaming market report states that one challenge in the market is high cost of latest game applications. The R&D cost involved in developing new and improved versions of games is generally very high.
This increases the cost of the latest game applications. Hence, vendors sell these games at premium prices to gamers in order to transfer the burden of high cost to them.
Report at www.reportsnreports.com/.aspx?name=1346589.
Key questions answered in this gaming market report:
What will the market size be in 2022 and what will the growth rate be?
What are the key market trends?
What is driving this market?
What are the challenges to market growth?
Who are the key vendors in this market space?