REDDING, California., February 2, 2023 /PRNewswire/ — According to a new market research report titled “Online Gambling Market by model (free-to-play, pay-to-play), genre, revenue source (media and broadcast rights, advertising and sponsorships, other), platform, streaming (live streaming, on-demand streaming), and geography – Global forecasts to 2030,’ the global online gambling market is expected to reach $431.87 billion by 2030, at a CAGR of 19.6% from 2023 to 2030.
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Online gaming can refer to games played over the internet or over a computer network. Online games can be played on dedicated video game consoles such as PlayStation, Xbox and Nintendo Switch. Increasing internet connectivity, increasing adoption of smartphones and the emergence of high-bandwidth network connectivity such as 5G have propelled the growth of the gaming market worldwide. Additionally, the creation of new monetization models, as well as in-game advertising and sponsorships are expected to bring significant growth opportunities to the players operating in this market.
The increasing use of smartphones for online gaming is expected to drive the market growth
Due to the proliferation of smartphones and their availability at affordable prices, consumers are increasingly using smartphones for online gaming. Smartphones have become one of the most user-friendly media for online gaming. The increasing use of smartphones and the integration of technologies such as AI, big data and cloud computing are transforming the online gaming industry. These technologies offer a better gaming experience with improved stability and graphics. The COVID-19 pandemic led to an increase in online gaming as people stayed home and spent a lot of time entertaining due to lockdowns and social distancing restrictions. Overall, the pandemic had a positive impact on the online gaming industry. In addition, the time spent playing online games on smartphones increased by 40% compared to before the pandemic.
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Online gaming on smartphones offers the following advantages:
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More flexible gaming compared to PCs or game consoles
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An immersive experience with technological advances in smartphones
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Health benefits such as reducing depression and stress
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AR integration
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Cheaper than owning a PC or game console.
To enable efficient analysis, Meticulous Research® has divided this market by model (free-to-play games and pay-to-play games), genre (action/adventure, sandbox, simulation and sports, role-playing game, player vs. player, multiplayer online battle arena, real-time strategy, shooter, racing, puzzle and party games, survival horror and other genres), source of income (advertising and sponsorship, game publisher fees, media and broadcasting rights, ticket sales and merchandise sales) . ), platform (mobile platforms [smartphone games and tablet games]personal computer [Boxed/downloadable PC games and browser PC games]console and other platforms), streaming (live streaming and on-demand streaming), and geography (North America, Europe, Asia Pacific, Latin Americaand the middle East & Africa).
Based on model, the global online gaming market is segmented into free-to-play games and pay-to-play games. In 2023, the free-to-play segment is expected to account for the largest share of the global online gambling market. The growth of this segment is due to increasing digital entertainment media, the increasing number of smartphone users and the increasing use of the Internet worldwide. However, the pay-to-play segment is expected to register the highest CAGR during the forecast period.
Based on genre, Global Online Gaming Market is divided into Action/Adventure, Sandbox, Simulation & Sports, Role-Playing, Player vs. Player, Multiplayer Online Battle Arena, RTS, Shooting, Racing, Puzzle & Party, Survival Horror and Other Genres . By 2023, the action-adventure segment is expected to take the largest share of the global online gaming market. The large market share of this segment is attributed to technologies such as VR and AR to improve the gaming experience. However, the shooters segment is forecast to register the highest CAGR during the forecast period.
In the meantime- “ Online Gaming Market – Global Opportunity Analysis and Industry Forecasts (2023-2030)
223—Tables
39 – Numbers
252 pages
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Based on the source of income, Global Online Gambling Market is segmented into Advertising & Sponsorships, Games Publisher Fees, Media & Broadcasting Rights, Ticket Sales, and Merchandise Sales. By 2023, the Advertising & Sponsorships segment is expected to account for the largest share of the global online gambling market. The large market share of this segment is mainly due to the rising number of video gamers, increasing collaboration between game publishers and advertisers, and increasing engagement with digital products since the COVID-19 pandemic. However, the game publisher fees segment is expected to register the highest CAGR during the forecast period.
Based on platform, The global online gaming market is segmented into mobile, PC, console and other platforms. In 2023, the mobile platforms segment is expected to account for the largest share of the global online gambling market. The growth of this segment is attributed to the growing number of mobile users, ease of access and increasing adoption of smartphones. The increasing monetization in the gaming industry through advertisements on smartphone games is contributing to the growth of the industry. Many tech companies are focusing on developing dedicated games for smartphones due to the growing user base across all age groups.
One of the success factors for leading players in the mobile gaming market is understanding the user’s choices, such as: B. Preferred game type, game duration, player gender and demographics. This data can easily be collected from mobile login credentials and used to improve user experience by suggesting relevant ads and games. These factors are expected to drive the growth of the mobile platforms segment over the forecast period.
Based on streaming, the global online gambling market is segmented into live streaming and on-demand streaming. In 2023, the live streaming segment is expected to account for the larger share of the global online gambling market. The large market share of this segment is attributed to the rising popularity of live streaming technology for better brand engagement and consumer reach, as well as the growing popularity of e-sports and video games. However, the on-demand streaming segment is projected to register the highest CAGR during the forecast period.
Based on geography, The global online gambling market is segmented into North America, Europe, Asia Pacific, Latin Americaand the middle East & Africa. In 2023, Asia Pacific is projected to have the largest share of the global online gambling market. Asia Pacific is the fastest growing gaming region in the world and offers endless opportunities for game developers, marketers and strategists. Aside from its massive user base spanning all ages, the region is home to various established industry players and is a hub for innovation and emerging trends. The growing number of smartphone users in Asia Pacific has led to the growth of the mobile games market. The improved accessibility of smartphones is expected to contribute significantly to the growth of this regional market during the forecast period.
Some of the major players in the global online gambling market are Microsoft Corporation (USA), Activision Blizzard, Inc. (USA), Apple Inc. (USA), Electronic Arts Inc. (USA), Nintendo Co., Ltd. (Japan), Capcom Co.,Ltd. (Japan), SEGA (USA), Rovio Entertainment Corporation (Finland), GungHo online entertainment (Japan), Ubisoft Entertainment (Japan), Sony Interactive Entertainment Inc. (Japan), SQUARE ENIX HOLDINGS CO., LTD. (Japan), Gameloft (France), iTechArt (USA), Amazon.Com, Inc. (USA) and Tencent Holdings GmbH (China).
Browse the detailed table of contents “ Online Gaming Market – Global Opportunity Analysis and Industry Forecasts (2023-2030)
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Scope of the report:
Online Gaming Market, by model
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Free to play games
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Pay to play games
Online gambling market, by genre
Online gambling market by revenue sources
Online gambling market, by platform
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mobile platforms
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pcs
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consoles
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Other platforms
Online gambling market after streaming
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live streaming
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On Demand Streaming
Online Gaming Market, by Geography
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North America
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Europe
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Asia Pacific
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Latin America
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middle East & Africa
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Related report:
Live Streaming Market – Global Opportunity Analysis and Industry Forecast (2021-2028)
https://www.meticulousresearch.com/product/live-streaming-market-5225
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