Increasing popularity drives video games industry growth Posted: October 20, 2014 |
Mumbai, India – October 17, 2014 – There was a time when video games were considered the domain of geeks and loners who could not socialize. Not anymore. Video gaming industry is now oneof the fastest growing sectors in the entertainment business in particular, and the business world in general. Just a small instance might help to make the situation clearer. The movie, Dark Knight, earned USD 199.7 million worldwide in its opening weekend. The game, Call of Duty: Modern Warfare 2, earned USD 310 million in its first 24 hours from sales in UK and USA alone. Video gaming industry is booming, and its popularity is showing no signs of decreasing.
This report, Global Video Game Market 2014-2018 covers the present scenario and the growth prospects of the video games industry. It has a detailed analysis of the growth pattern of the market, and gives a comprehensive overview of the factors that are driving the market. There is extensive data about the key market players, and the regions that are opening up new opportunities. The report also focuses on the market size and areas in which it needs strengthening.
Key players in the market Video games industry has been in operation for quite some time now. While the older companies are trying to increase their market share, newer companies are entering into the foray almost every day in order to carve out a niche for themselves. Some of the big names in the industry are Activision Blizzard, Electronic Arts, Gameloft, Giant Interactive Group, Konami, Microsoft, NCSOFT, Nexon, Nintendo, Rovio Entertainment, Sony Computer Entertainment, Take-Two Interactive Software, and Ubisoft Entertainment. Companies like Namco Bandai Games, NetEase, Oberon Media, OGPlanet, Perfect World, Punch Entertainment, Redboss, Rockstar North, Rocksteady Studios, Sega, Shanda Interactive Entertainment, and Softnyx are also coming up fast.
Factors driving the growth The video games industry has broken the age barrier and people of all age groups are part of its consumer base. These days, video games are seen as a way of spending family time. Video games are taking the place that games like Monopoly, and Scotland Yard once held. The emergence of the mobile platforms has opened up a completely new market and this is another key factor accounting for the growth of the industry. Almost all the major games these days are released on multiple platforms like PlayStation, Xbox, Wii, PC, and smartphone operating systems like Android, iOS, and Windows. The diversification of markets is helping in tapping newer areas, thus bringing in more customers.
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