Planet Market Reports analyst forecast the Europe Games market to expand at a CAGR of 5.0% during the forecast period 2016-2024. Further, the market is anticipated to reach USD 34.9 billion by the end of forecast period.
Europe is one of the most lucrative markets for video game consumption in the world, ranking behind North America and Asia Pacific in terms of revenue share in global games market. Europe games market is majorly acquired by the Western Europe countries such Germany, U.K, France and Italy.
With more than 90% penetration of smartphones in Europe, more than 30% population of Europe plays games online on their smartphones. In United Kingdom, there are more than 2000 gaming firms ranging from micro-studios that are developing games for the escalating mobile market, to internationally respected independent studios and international publishers.
More than 60% of all registered gaming companies in Europe are registered in the last five years, boosted by the Smartphone revolution.
Covered in this Europe Games Market report
The report covers the present ground scenario and the future growth prospects of the Europe games market for 2016-2024 along with the total revenue of gaming industry in every country. We calculated the market size and revenue share on the basis of revenue generated per segment, region, and screen on a regional, and country level.
The revenue forecast is given on the basis of number of game publishers and current growth rate of the market.
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Europe Games Market Segmentation
By Component Type
• Gaming Consoles
• Gaming Peripherals
• Cloud Services
• Gaming Software
By Gaming Platform Type
• T.V Gaming Consoles
• Classic Games
• Casual Web Games
By Game Genre
- MMO Massively Multiplayer Online
• RPG Role Playing Games
• Other Educational.
By Distribution Channel
- Online Distribution Channel
• Offline Distribution Channel
Based on gaming platform, PC and TV gaming consoles accounted for the largest revenue share of 65% in Europe games market in 2016. Mobile gaming segment is the fastest growing segment, likely to expand at a CAGR of 9.6% over the forecast period i.e.2016-2024.
Europe Games Market Outlook 2016-2024, has been prepared based on an in-depth market analysis from industry experts. The report covers the competitive landscape and current position of major players in the Europe games market.
The report also includes porter’s five force model, SWOT analysis, company profiling, business strategies of market players and their business models. Europe games market report also recognizes value chain analysis to understand the cost differentiation to provide competitive advantage to the existing and new entry players.
Our Europe Games market report comprises of the following companies as the key players in the Europe games market: Activision Blizzard, Electronic Arts, Microsoft, Sony, Tencent Holdings, Ubisoft, Nintendo, Mojang, Apple, Nexon, Netmarble, NetEase, TakeTwo Interactive, Konami, DeNA, Disney, Interactive, Google and Bnadai Namco.
According to our Europe games market study on the basis of extensive primary and secondary research, one major trend in the market is virtual reality games. Virtual reality has gained huge popularity in last two years, since the launch of oculus and Google cardboard VR devices.
Development and availability of wide range of VR gaming content for smartphones has significantly driven the growth of Europe games market.
According to the report, major driver in Europe games market is the growing mobile gaming segment in the region with the popularity of game genres such as casual game, social gaming and free-to-play MMO games are driving this growth. The growing number of Smartphone users and with more than 90% internet penetration in Europe has bolstered demand for mobile games- and it has opened up completely new customers group.
Further, the report states that one challenge in Europe games market is the lack of government initiatives to support gaming industry. The lack of government initiatives and the inadequate offering of education in the field of gaming is the major concern among the gaming industry in Europe.
The government is failing to recognize the full potential of swiftly growing gaming industry and is likely to appear as the major challenge for the potential growth of Europe games market.
Geographically, Germany accounted for the highest revenue share in the region accounted for the 5% of global game sales in 2016. On the other hand U.K is the most lucrative and fastest growing games market in Europe with highest spending rates for digital game content, with 20% of population playing games online and accounted for the world’s second largest market for console gaming after France, with 71% of its 35 million gamers playing games on TV consoles.
Germany provides the huge growth opportunity to the gaming industry as it’s market consist of more than 40 million gamers and quite favorable conditions for the gaming companies to grow significantly.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors.
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Key questions answered in this Europe Games market report
- What is the total market size by 2024 and what would be the expected growth rate of sales?
• What is the total revenue per segment and region in 2015-16 and what would be the expected revenue per segment and region over the forecast period?
• What are the key market trends?
• What are the factors which are driving this market?
• What are the major barriers to market growth?
• Who are the key vendors in this market space?
• What are the market opportunities for the existing and entry level players?
• What are the recent developments and business strategy of the key players?
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Name: Jennifer Daniel
Organization: Planet Market Reports