Concerns about fraud in the gaming industry are expected to restrain market growth. A sharp increase in health issues and problems associated with video games is expected to further restrain market growth.
Over the forecast period, the online gaming segment is expected to gain traction. The growing popularity of multiplayer games is fueling demand for online games, which enable in-game communication and enhance the overall experience. Social networking sites play a significant role in providing a virtual platform for the expansion of online games.
Market participants engaged in the development of gaming consoles are focusing their efforts on capitalizing on the opportunities presented by online games. For example, Microsoft Corporation’s Xbox Live and Sony Corporation’s PlayStation Network have both grown in popularity as a result of the online platform.
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Tencent Holdings Limited, based in China, has risen to become the market’s largest player through inorganic growth strategies such as the acquisition of Riot Games and Supercell Oy, developers of popular games such as League of Legends and Clash of Clans. The company’s expansion is a significant factor in China’s overall growth.
South Korea is expected to make a sizable contribution to regional growth as a result of its growing emphasis on e-sports and massively multiplayer online games. In South Korea, massively multiplayer online role-playing games have exploded in popularity.
Microsoft Corporation, Nintendo Co., Ltd., Rovio Entertainment Corporation, NVIDIA Corporation, Valve Corporation, PlayJam Ltd., Bluestack Systems, Inc., and Sony Corporation are key players in the market. These companies are primarily focused on the creation of compelling gaming content and the development of next-generation gaming consoles.
These players have developed popular gaming consoles such as the PlayStation 4 by Sony Corporation, the Xbox One by Microsoft Corporation, and the Wii U by Nintendo Co., Ltd. Market participants are primarily focused on product differentiation and innovation with the goal of expanding their market share.
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