Allied Market Research published a new report, titled, “Subscription-based Gaming Market Size Growing at 12.9% CAGR Reach USD 55.94 Billion by 2031 .” The report offers an extensive analysis of key growth strategies, drivers, opportunities, key segments, Porter’s Five Forces analysis, and competitive landscape. This study is a helpful source of information for market players, investors, VPs, stakeholders, and new entrants to gain a thorough understanding of the industry and determine steps to be taken to gain competitive advantage.
The global subscription-based gaming market was valued at $17.16 billion in 2021, and is projected to reach $55.94 billion by 2031, growing at a CAGR of 12.9% from 2022 to 2031.
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Driving Factors
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 emergence of unlimited data plans, increase in use of smartphones and rise in internet penetration. However, increase in price of services offered by key vendors to gain more profit hinder the market growth. Conversely, emergence of cloud gaming and increase in number of SMEs in gaming sector are anticipated to create lucrative opportunities for growth in the industry.
Market Segmentation
The subscription-based gaming market is segmented into Device Type and Game Type.On the basis of game type, the market is segmented into action, shooting, sports, adventure, fighting, role-playing, racing and others. According to the device type, it is fragmented into smartphone, gaming consoles, PC and others. Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Key Players
Some of the key Subscription-based gaming industry players profiled in the report include Amazon Luna, Blacknut, Google LLC, Microsoft Corporation, NVIDIA Corporation, Shadow, Sony Group Corporation, Tencent, Ubitus K.K. and VORTEX (REMOTEMYAPP SP. Z O. O.).
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Based on geography, Asia-Pacific held the major share in 2021, capturing over two-fifths of the global subscription-based gaming industry, and is likely to show prominent growth during the forecast period. Nevertheless, the market across LAMEA would grow at the fastest CAGR of 14.5% throughout 2031. The other two regions discussed in the report include Europe and North America.
Based on device type, the smartphone segment accounted for of nearly two-fifths of the total market in 2021 and is likely to rule the roost throughout the forecast period, 2022-2031. The same segment would exhibit the fastest CAGR of 13.7% throughout the forecast period.
Based on game type, the action segment contributed to more than one-fourth of the total market revenue in 2021 and is expected to lead the trail by 2031. The adventure segment, however, would grow at the fastest CAGR of 15.9% from 2022 to 2031.
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COVID-19 Scenario
● The Covid-19 outbreak had a positive impact on the subscription-based gaming market as strict laws implemented by government authorities led people to stay at their homes, allowing them more time to spend on leisure activities such as gaming.
● This availability of more leisure time gave way to wide adoption of subscription games.
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