Subscription-based gaming market is expected to reach $55.94

Portland, OR, Jul. 06, 2022 (GLOBE NEWSWIRE) — According to the report published by Allied Market Research, the global subscription-based gaming market was valued at $17.16 billion in 2021 and is expected to collect $55.94 billion by 2031, at a CAGR of 12.9% from 2022 to 2031. The report provides an in-depth analysis of the best investment pockets, the best winning strategies, drivers and opportunities, market size and estimates, competitive scenario and vacillating market trends.

The driving forces behind the growth of the global subscription-based gaming market include technological advancements in gaming sectors such as artificial intelligence (AI), augmented reality (AR) and 5G, the rise of unlimited data plans, increase in smartphone usage and the rise of internet penetration. However, an increase in the price of services offered by major suppliers to gain more profits hinders the market growth. Conversely, the rise of cloud gaming and the proliferation of SMEs in the gaming sector are expected to create lucrative growth opportunities in the industry.

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Covid-19 scenario –

  • The Covid-19 outbreak had a positive effect on the subscription-based gaming market, as strict laws introduced by the government forced people to stay at home, allowing them to spend more time on leisure activities such as gaming.
  • This availability of more free time gave way to widespread adoption of subscription games.

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The global subscription-based gaming market is analyzed on the basis of device type, game type, and region.

Based on device type, the smartphone segment accounted for nearly two-fifths of the total market in 2021 and is likely to prevail over the forecast period, 2022-2031. The same segment would show the fastest CAGR of 13.7% over the forecast period.

Based on game mode, the action segment contributed to more than a quarter of total market revenue in 2021 and is expected to lead the way in 2031. However, the adventure segment is said to grow at the fastest CAGR of 15.9% from 2022 to 2031.

Based on geography, Asia-Pacific had the largest share in 2021, capturing more than two-fifths of the global subscription-based gaming industry, and is likely to show prominent growth over the forecast period. Nevertheless, the market in LAMEA is expected to grow at the fastest CAGR of 14.5% in 2031. The other two regions discussed in the report are Europe and North America.

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Major market players analyzed in the Global Subscription Gaming Market Report include Amazon Luna, Blacknut, Google LLC, Microsoft Corporation, NVIDIA Corporation, Shadow, Sony Group Corporation, Tencent, Ubitus KK, and Vortex. These market players have adopted various strategies including partnership, expansion, collaboration, joint ventures and others to strengthen their position in the industry.

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Allied Market Research (AMR) is a full-service market research and business advisory division of Allied Analytics LLP, based in Portland, Oregon. Allied Market Research offers global enterprises as well as medium and small businesses an unparalleled quality of “Market Research Reports” and “Business Intelligence Solutions”. AMR has a focused vision to provide business insights and advice to help its clients make strategic business decisions and achieve sustainable growth in their respective market domain.

Pawan Kumar, the CEO of Allied Market Research, leads the organization to deliver high-quality data and insights. We have professional business relationships with various companies and this helps us to dig up market data that helps us generate accurate tables of research data and confirm pinpoint accuracy in our market forecasts. All data presented in the reports published by us has been extracted through primary interviews with top executives of leading companies in the respective field. Our secondary data procurement methodology includes in-depth online and offline research and discussion with expert professionals and industry analysts.


        

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