Digital gaming is not mere fad, fueled by the groundswell of interest among millennials and the like in consumer demographic, world over. Video games with the vast array of engaging hardware and immersive user interfaces have gained wide popularity among generation Y cohorts in recent years. Video games in various parts of the world gained popularity as a commodity for leisure and entertainment, not mere passive gaming. The evolution of the video games market is underpinned by several of these trends and will continue to gain strength from similar demand dynamics in the coming years as well. However, the demand for video games is cutting flak and the severe criticism stems from the fact that of late engagement with video games have assumed the proportion of addiction for gamers, especially in developed nations. The mounting concern of video game disorder having significant repercussions on social lives by adversely affecting their psychology and overall behavior has been a critical factor influencing the dynamics of the video games market. This can account for a lackluster growth of the market in the next few years.
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However, it can be years before that the allure of video games will subside, noticeably, thereby adversely impacting the demand. On the other hand, the video games market is likely to progressively benefit from the innovation in formats, advancements in games types, and constant technological advances in physical platforms and hardware used.
The global video games market has been witnessing attractive trajectories from the growing preference of various types of competitive video games that notably includes role-playing video games and sports games. Sport games or more popularly e-sports has paved way for a new phenomenon in the video games market. Although the fascination of youngsters with action games is relatively recent one, e-sports has expanded the horizon of it and the overall video games market. The demand for role playing games gathering steam among gamers in the video games market is also a recent one and the genre is likely to gather traction in the coming years. Aiming for variations in this genre will keep the demand lucrative and is likely to unlock several promising prospects in the video games market.
Over the past few years, hardware improvements has been key to the various growth trajectories of the video games market. These developments have notably been witnessed in the rapid advances in processing units used in the gaming. Coupled with advancements in computer graphic techniques, video games bring a feeling of more immersive experience for gamers. The advances have been so massive that experts opine that gaming technology is no longer a constraint but an enabler in the rapid growth of the video games market, globally.
The contours of the video games market, unarguably, is shaped by several technical innovations and hardware improvements in recent years. However, the undercurrent of the dynamics is increasingly influenced by the cultural impacts of video games trends on the gaming community. The ways in which gamers can relate to the characters of video games and control them at their whims have been a compelling proposition for the expansion of the video games market. The growing number of video games and the various political and personal genres they embody are key underpinnings to the growing diversity and representation in the gaming milieu.
Video games form a category of entertainment broadly consisting of interactive software and graphics supported by hardware that mediates the interaction of gamers with visual media via user interfaces. These games majorly fall under the category of software and supported by hardware components such as computer monitor, TV screens, gaming console, memory storage discs, handheld consoles, graphics card, and digital optical discs. The growing trend of technological convergence and constant improvements in the graphic designs and related hardware are factors supporting the rapid expansion of the video games market.
The study findings shines light on the key facets and aspects of the global video games trajectories. The analyses offer insights on several questions, including the following:
- Which will witness more rapid rise in demand – role-playing games or action-based or fighting games in the video games market?
- Which hardware for video games will see substantial technological advances in the coming years in video games market?
- Which platforms are likely to attract sizeable investments from players in the video games market?
- Which trends will account for the lucrative opportunities in North America and how are these different from that in Asia Pacific excluding Japan (APEJ)?
The report takes a closer look at the key elements that form the competitive landscape. The insights include factors that may influence the prevailing intensity of competition and strategies and tactical moves that may alter the scenario in the coming years. Some of the prominent companies in the video games market are Disney Interactive Studios, Vivendi SA, Supercell Oy, Ubisoft Entertainment SA, Electronic Arts Inc., Microsoft Corporation, Sony Corporation, NVIDIA Corporation, and Nintendo Co. Ltd.
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