Massive multiplayer online games (MMO), free-to-play games (F2P), and multiplayer games are becoming increasingly popular as a result of an increase in the number of people who prefer to play video games online. Growing preference for online gaming and increase in usage of social media.Market Dynamics Global Video Game Market Drivers It is anticipated that factors such as the widespread availability of smartphones, the rising rate of internet penetration, and the convenience of downloading games from the internet would all contribute to the expansion of the industry. These advancements are aimed at improving the real-time rendering of graphics. It is anticipated that developments in technology and ongoing innovations in both hardware and software will continue to fuel the growth of the market over the projected period. Alongside the expansion of the worldwide media and entertainment business comes the anticipated growth of the global video game industry. The International Trade Administration of the United States Department of Commerce estimates that the global market for media and entertainment reached $ 1.9 Trillion in 2016, and that figure increased to $ 2 Trillion the following year. One of the most popular types of entertainment nowadays is the video game, which gives its players the opportunity to engage in an immersive gaming experience. The global video game market size was valued at USD 189.3 billion in 2021 and is projected to reach USD 560.11 billion by 2030, registering a CAGR of 12.81% from 2022 to 2030.
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