2013-02-15 14:39:58 - Future Growth Led by Surging market of Online and Mobile Games
New Delhi: 15 February 2013: The US was the largest market for video games in CY’2012, with a majority share in the global video game industry, followed by Japan and China. Growing personal disposable incomes, penetration of broadband, increasing population of video game players, rise in the number of new games and increase in the time spent on video games are some of the factors for the growth of the US video games industry.
The video games market in the US has witnessed a decline in recent years on account of slower sales of video game hardware and software. Hardware sales have been adversely affected by the maturing current generation of video game consoles. The advent of relatively cheaper games
on the online and mobile platform has lead to significant changes in the traditional distribution of video game software through the US retail. However a surge in the social gaming population as well as increased adoption of smart phones and tablets has provided a much needed thrust to the video game sector in the US. The video game industry in the US is comprised of large hardware manufacturing entities, several independent software manufacturers and a gamut of small unorganized video game developers. The US video game industry revenues have increased from USD 13,300 million in CY’2006 at a CAGR of 8.5% during CY’2006-CY’2012.
According to the research report “The US video game industry future outlook to 2017 – Transition from Console to Online and Mobile Gaming”, the US video games market will grow at a considerable CAGR rate and will USD 40,540 million by 2017 due to the major push from online and mobile gaming in the US.
“While rising disposable incomes, soaring population of video game players and an increase in the time spent on gaming will result in increased spending on video games in the US, steep rise in penetration of broadband and mobile phones and a subsequent increase in the online gaming and mobile gaming, are expected to hamper the performance of the retail segment for video game hardware and software sales, according to the Research Analyst, Ken Research.
The report provides detailed overview on the video games market in the US and aids reader to identify the ongoing trends in the industry and anticipated growth in future depending upon changing industry dynamics in coming years. The report will help industry consultants, video game companies and other stakeholders to align their market centric strategies according to ongoing and expected trends in future.
For more information on the industry research report please refer to the below mentioned link: