Technavio has shared its Global Online Gaming Market 2022-2026 report, stating an expected market growth of approximately $46 billion by the end of 2026. The growth momentum has also been determined at a CAGR of 12.27% for the same period.
Related: Technavio’s report predicts a $73.62 billion growth in the game industry until 2026
The market research and advisory firm underlined that the online gaming market is currently in a fragmented state. Product design and development, planning investments, acquisitions, and product expansions have been stated as the growth strategy of the companies competing in the market.
The data suggested that the free-to-play (freemium) model is essential for the market’s growth, allowing gamers to play for rewards such as virtual assets or in-game currencies. The business model also invites gamers to purchase in-game items in exchange for real money, permitting various monetization options.
Technavio noted that the increase in popularity of esports, market-beneficial partnerships, and acquisitions will cause the market to expand heavily. On the flip side, infrastructural requirements are expected to hinder the market’s progress.
Key players in the market have been marked as Activision Blizzard, Alphabet, Apple, ArcGames, and Bandai Namco. Technavio shared that major firms are conducting innovative solutions, products, services, and M&A activities in order to stay relevant and gain more space.
According to the report, the market has been categorized in two manners to facilitate data reading. Three game types have been determined, namely MMO, casual, and digital console, as Technavio highlighted that MMOs will account for the largest market share in the forecast period.
Secondly, the market is classified according to geography, and Technavio emphasized that the APAC region will contribute the most to the market’s growth, with a 51% forecast. The company goes into lots of detail about the market’s current situation and its recent future. You can access the free version of the report here.
