Global Gaming Market to Reach USD$635 Billion by 2022, Research Shows
According to an institutional market research in Dublin, Ireland, the global gaming market will rise by nearly 6% between 2016 and 2022; and by 2022, the revenue from the gaming market is expected to reach USD $635 billion.
“Increasing smartphone and tablet penetration, increased device capability and the confidence of users are driving the market growth”, the research concluded.
The report also pointed out that the Asia Pacific region will be the main growth zone. That is based on the fact that US investors have opened a number of large-scale venues in the Asia-Pacific region to develop the gaming industry, prompting the rapid development of the gaming market in the region.
Many countries are promoting the development of the gaming industry in an effort to beef up local tourism industry. In a different study by Morgan Stanley it showed that the global gaming market had a market capitalization of $423 billion in 2014, and the entertainment city industry contributed the most.