Further, pirated versions of popular games are increasingly made available in certain countries at a cheaper rate. Price of the video game depends on the type of game a consumer is interested in, and the device for which it is used.
Lenient anti-piracy laws in various countries may restrain market growth.
Increasing compatibility and hardware capacity of PC, laptops, tablets, smart-phones, and i-pads may further spur market development. Social networking sites such as Facebook have been crucial in promoting video games over the internet.
Increasing consumer disposable incomes and standards of living are also enhancing the video game market. Clearly there are dangers ahead for many companies as business models are changing, and once-profitable businesses are seeing their audiences depart for other types of gaming.
Growing number of adults playing video games as a source of entertainment, is further expected to fuel market expansion. Console games will add more social elements, too, and eventually social games outside of Facebook will become more popular. Successful companies will be the ones who stay flexible as conditions continue to change rapidly.
Pricing of the games largely depends on game play experience and quality content.
Sebastian believes tablets can be the next great market for games, given that the form factor is better than a smartphone for playing games. Increasing online piracy by using torrents and other software is anticipated to pose a challenge to market expansion.
Video games such as strategic, racing and pursuit, mission, mind games, social gaming, and team gaming are contributing significantly to market expansion. Customers prefer to pay premium amount to download quality games. He sees packaged software sales staying flat this year, with the growth in Xbox and PS3 sales being offset by the decline in Wii and handheld game sales.
Sebastian sees GameStop as a good holiday play given the large number of AAA titles coming out this quarter, and beyond that he picks Activision and Electronic Arts as the best performers for long-term investors, followed by Take Two.
The difficult business climate for traditional game companies means there are fewer clear winners to invest in right now.
Video games consist of online games, play-station, social gaming, and console games. Request a Free Sample The global video games market is expected to flourish owing to increasing number of consumers looking for interactive digital gaming world as a source of entertainment.
Developers are constantly under pressure to develop newer and better versions of already existing popular games. Additionally, constantly changing gaming needs may pose a challenge to market development. The nature of the game market is changing in the USA, according to studies cited by Sebastian.
For instance, only trial version of the video games is released for free whereas, full-version games require users to pay the price. This quarter will see strong sales with many big titles coming out, but that positive sales picture will only be enough to pull the sales out of the loss category for the year.
How to Write a Summary of an Article?California's computer and video game industry grew by a real annual rate of percent from to – compared to a period of negative growth for the state's overall. U.S. games industry forecast to grow 30 percent to $B by The U.S. video game industry will grow 30 percent from $15 billion That’s a compound annual growth rate of percent.
The statistic presents data on the growth of the global video game industry revenue between andbroken down by category. Forecast revenue from online game sales between and.
The U.S. video game industry revenue is expected to grow at a compound annual growth rate of percent from toaccording to a new report by PwC. based on historical and forecast. Game Industry Forecast Shows Solid Growth The global game industry will generate $60 billion in revenue forand is growing at 10% annually according to a new research report by industry analyst Colin Sebastian for RW Baird.
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