The global gaming market projected to grow beyond half trillion dollars by 2030

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The global gaming market is expected to grow beyond half trillion dollars by 2030. Report forecasts a compound annual growth rate for the industry exceeding 10%. The growth will be fueled by the rising popularity of mobile gaming, real money and casual genres, esports and live streaming of games. The advance of 5G networking will significantly lower issues such as gaming lag and improve user experience in cloud gaming. The issues related to mental health, addictions and obsessive gaming will act as a restraining factor for growth of the global market.

The study segments the global gaming market into console, mobile, and computer devices. The console segment had a market share of around 31.0% as per 2021 estimates and is projected to experience the fastest growth rate between 2022 and 2030. Asia Pacific had the clear dominance in 2021 generating around 50.00% of the gaming revenues. North America, with insights into the U.S., Canada and Europe, is the other region covered. The report also includes sections dedicated to the UK and Canada. It is expected to grow at the 11.5% CAGR over the forecast period.