Video gaming is one of the fastest-growing sectors in the industry. Video gaming comprises different modes of gaming, including console gaming, mobile gaming, and PC gaming, out of which PC gaming accounts for 25% with a market value of $45 billion in 2021.
The video gaming industry was among the few businesses that thrived during the outbreak of the COVID-19 pandemic. It includes the creation, promotion, and monetization of video games.
PC gaming is a form of video game that involves the usage of Desktop and Laptop peripherals as a platform for gaming and entertainment purposes. The growth in PC gaming has seen a steady rise over recent years as the demand is not just limited to professional gamers but to normal users as well. This is because of the seamless experience that PC gaming offers to the users compared to other forms of gaming.
South Korea is the third biggest market in PC gaming, just behind the second-placed United States. The market size of PC gaming in South Korea reached $7.6 billion in 2021. The PC gaming market in South Korea grew by 25% in 2021, the highest among all the countries globally, as the demand for video gaming increased. The market grew as indoor game activities increased following the shutdown of outdoor games owing to the pandemic and people globally spent most of their time at home due to the lockdowns.
However, in the initial phase of the pandemic, the video gaming segment saw some supply disruption globally which lowered consumption even though there was demand from consumers. As a result of this, the growth for global PC gaming in 2021 was down marginally by 1%, from 13% in 2020 to 12% in 2021.
This influenced South Korea’s PC gaming market as well, with the market growing by 25% in 2021 as opposed to 34% in 2020. Overall, the PC gaming market in South Korea saw substantial growth of $3.3 billion during 2018-2021 with a CAGR of 21%.
South Korea saw the biggest growth in 2021 with an increase of over $1.5 billion in the market value from the previous year, showing the huge demand the region has for PC gaming.
South Korea is the third biggest market for PC gaming globally with a share of 17% and accounts for 28% in Asia-Pacific, showing its dominance and influence in the video gaming market. PC gaming in South Korea has seen great growth in the last five years and is narrowing its distance from the second-placed United States. Many companies in the gaming industry are bringing digitization and user-friendly engagement to their gaming platforms to enhance the user’s gaming experience.
Major players in the PC video gaming segment in South Korea include NCsoft Corp, Sony, and Nexon Co Ltd.
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