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| Press Release

The video game market will register a CAGR of over 9% by 2023

New York, Jan. 17, 2020 (GLOBE NEWSWIRE) -- announces the release of the report "Global Video Game Market 2019-2023" -
Mobile gaming is the largest segment of the global video game market and will grow significantly during the forecast period. The continuously increasing availability of low-cost smartphones will further contribute to the growth of the video games market in emerging economies including China, India, and Mexico. Vendors are also venturing into mobile gaming platforms for providing online games and capitalizing on the mobile gaming phenomenon. Such rising improvements in Internet access will further foster the global video game market growth during the next few years. Analysts have predicted that the video game market will register a CAGR of over 9% by 2023.

Market Overview
The increasing popularity of eSports tournaments
One of the growth drivers of the global video game market is the increasing popularity of eSports tournaments. The growing popularity of eSports and the rising number of professional gamers are estimated to increase sales of gaming merchandise and accessories as well as video game software and hardware.
The growing cost of game development
One of the challenges in the growth of the global video game market is the growing cost of game development. The game publishers prefer catering to the needs of the gamers rather than risking money on new concepts. This increases the cost of game development. This factor may impede the growth of the market during the forecast period.
For the detailed list of factors that will drive and challenge the growth of the video game market during 2019-2023, view our report.

Competitive Landscape
The market appears to be fragmented with the presence of several market players. Many vendors in the market are increasingly maintaining the compatibility of their games across smartphones, laptops, tablets, and PCs. This market research report will help clients identify new growth opportunities and design unique growth strategies by providing a comprehensive analysis of the market’s competitive landscape and offering information on the products offered by companies.
Read the full report:

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