A video game is an electronic game that involves interaction with a user interface to generate visual feedback on a two- or three-dimensional video display devices such as a touchscreen, virtual reality headset, or monitor/TV set. The electronic systems used to play video games are called platforms. Video games are developed and released for one or several platforms and may not be available on others. Since its origin, the video game market evolved enormously, with modern developments including virtual reality and artificial intelligence technology. The platforms used for video games are PC, Home Console, Handheld, Arcade, Web Browser, Mobile, Virtual Reality, Blockchain, and others. Video Game Market share in the Technology industry has increased at a fast rate over the years. You can find Video Game Market Size, Video Game Market Share, and other trends and statistics below and you can learn more about T4's strategy consulting services here.
The chart shows the Video Game Market Size from 2018 to 2022. In 2020, the size of the Video Game Industry was $165B and is projected to grow 8% in 2021. From 2018 to 2022 the Video Game Industry growth is projected to average 9% per year. These estimates were made before the Coronavirus (COVID-19) pandemic. The short term impact of COVID-19 on the Video Game market growth will likely be Beneficial because Social Distancing policies involve people staying at home and looking to gaming solutions, among other things, to entertain themselves and their families. The long term impact of COVID-19 on the Video Game market growth beyond the COVID-19 pandemic will likely be Beneficial because the gaming market will gain gamers and fans during the pandemic. Request help with obtaining the source for this data and learn more about T4's strategy consulting services here.
The chart shows Video Game Market Share in 2018. The Video Game Market is Highly Fragmented among many vendors. The leading Vendor in the Video Game Industry was Tencent with 14% market share in 2018, followed by Sony with 10.24% Video Game market share, Microsoft with 7.07% Video Game market share, Apple market share was 6.85%, Activision market share was 4.97%, Google market share was 4.69%, NetEase was 4.47%, EA was 3.82%, Nintendo was 3.1%. Get help with market research for the Video Game market, including the source for this Video Game Market Share chart and learn more about T4's strategy consulting services here.
Video Game market growth is driven by the increase in internet penetration, the development of technological innovations in the gaming industry, and the increase in the affordability to buy connected devices such as smartphones, smart TVs, consoles, tablets, and others. Rising internet penetration is driving the demand for the video gaming market. The increase in sales of connected devices, which have become more affordable to the consumer, is an important driver to the growth of the industry. Technological innovations in the gaming industry are also a key growth driver. Advances such as facial recognition, sound recognition, gesture control, realistic graphics, virtual reality (VR), and augmented reality (AR) have completely changed video games and are pushing the gaming market forward. As a result, Video Game Market share in the Technology sector has been increasing at a fast rate over the years.
Learn about T4's Consulting servicesThe Video Game Industry is a Mature market composed of a few large competitors and many small competitors. Tencent's market share was 14.2% of the Video Game market in 2018. Tencent is the world's largest video game company. Tencent was founded in 2003 to focus on online games. Tencent has major stakes in some of the world's biggest games: "League of Legends," "Fortnite," and "Call of Duty," among others. Sony's market share was 10.24% of the market in 2018. Sony introduced the first Playstation in 1994. Sony's market share in console games rapidly became 61% over the total. Sony extended the brand to the portable games market in 2004 with the PlayStation Portable (PSP) and introduced VR in 2014. Sony has 366 virtual reality patents or patent applications. Microsoft's market share was 7.07% of the Video Game market in 2018. Xbox Game Studios was established in March 2000 and has expanded to include games and other interactive entertainment for the namesake Xbox platforms, Windows Mobile and other mobile platforms, and web-based portals. Apple's market share was 6.85% of the Video Game market in 2018. Apple Arcade is a subscription service with more than 100 games. It isn't a cloud gaming platform, such as Google Stadia or Microsoft's Project xCloud, but it is similar to the Xbox Game Pass. You download games entirely to your device and can play them as often as you like. Activision market share was 5% of the Video Game market in 2018. Activision owns and produces some of the most popular games on consoles ("Call of Duty"), PC ("World of Warcraft," "Hearthstone''), and mobile devices ("Candy Crush"). Activision market share in the number of users may be the largest in the world. Activision oversees one of the largest active game user bases in the world, with "over half a billion highly engaged monthly active users in 196 countries.
T4's research team can help you learn more about the Video Game industry with market analysis, competitive analysis, commercial Due Diligence, and other market research needs. This includes deeper analysis on competitors in the Video Game market, including: Tencent, Sony, Microsoft, Apple, Activision Blizzard, Google, NetEase, EA, Nintendo, Bandai Namco, Ubisoft, ZeptoLab, Sega, CapCom, Square Enix Holdings; research into related topics such as Console Gaming, Mobile Games, eSports, Smartphones, Tablets, VR / AR, Gaming as a Service, Cloud Gaming; or additional support in the Video Games Sector or other Sectors. Learn more about T4's strategy consulting services here.
