Research and Markets: Video gaming market report 2013

1st August 2013 | By Mouseworld Now Correspondent |

New Delhi, India, August 1, 2013: Research and Markets has announced the addition of the “Video Gaming Market Report 2013″ report to their offering.

In 2012, the authors estimate that the value of the UK video gaming industry exhibited a decline of 6.3% in comparison with the previous year. This fall is attributable to the maturity of the current generation of home video gaming consoles, released in 2005 and 2006, which has led to stagnation in the market.

However, in 2012, Nintendo was the first of the major console manufacturers to release a new, eighth generation console, with the launch of the Wii U in November. Despite this, with no new gaming platforms from Sony or Xbox, the market for gaming hardware, software and accessories remained depressed.

In 2013, however, Sony and Xbox announced plans to release their entries into the eighth generation of console gaming, the PlayStation 4 (PS4) and Xbox One, both of which are expected to be launched in the final quarter of 2012. This, alongside full-year sales and an increasing number of software releases for the Wii U, is expected to boost demand in the market significantly in 2013 and beyond.

Other major growth segments in the video gaming industry in recent years have been casual gaming. These small, relatively simple and extremely cost-effective games are mainly aimed at mobile devices, and have been driven by the proliferation of smartphone ownership in the UK, and via the significant growth in the tablet computing sector. Such games, while cheap to play, are able to be sold to the mass market and have proven extremely popular among demographics not traditionally associated with the video gaming market.

Over the next 5 years, the video gaming industry is expected to experience a period of strong and prolonged growth. In 2013, growth is expected to be slight, boosted by the launch of the Xbox One and PS4 in the final months of the year. As software releases accelerate, and demand for the new consoles rise, growth in the market is expected to become increasingly significant from 2014. However, as the console market reaches saturation, growth could be become increasingly subdued by 2016 or 2017.


© Mouseworld Now News Service

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