Video gaming is one of the fastest-growing sectors in the industry. This segment was among the few businesses that thrived during the outbreak of the COVID-19 pandemic. The video game industry includes the creation, promotion, and monetization of video games. Video gaming comprises different modes of gaming, including console gaming, mobile gaming, and PC gaming.
Moreover, the roll-out of 5G/High-speed internet services globally has aided the growth of the video gaming segment. Key markets from the Asia-Pacific Region include China, Japan, and South Korea.
The market size of video gaming in China reached a value of $43 billion in 2021. China has been consistently a market leader in the video gaming segment from the Asia-Pacific region with a share of 44% of the region’s market value.
The video gaming market in China grew by 5% in 2021 as the demand for video gaming 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.
Followed by this Japan ranks as the second largest player in the video gaming market from the region accounting 29% to the region’s market size in the video gaming segment.
Meanwhile, South Korea ranks at third spot in the video gaming from the Asia-Pacific region with a share of 16% to the region’s market share.
As it was one of the few industries which had a positive effect due to the pandemic and the video gaming industry was one such industry that saw a rise in consumption. The consumption of video gaming was further aided by growth in the increased internet penetration.
The major companies that have a strong presence in the video gaming market include Tencent, Nintendo, and Sony.
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