Dig into wireless gaming for opportunity

SAN JOSE, US: The ongoing economic slowdown, the financial crisis, and lower consumer confidence, of late, have led to a steady deterioration in market fundamentals. Falling discretionary spends, rising levels of unemployment, and reduction in household wealth are poised to take their toll on the market in the upcoming years.

While traditional consoles and PC games plummet slightly, due to global recession and products maturation, online and wireless gaming will continue to expand and offer opportunities for a large number of publishers, developers, and investors, said a report.

A recent report by the Global Industry Analysts Inc., states that the world market for video games software is projected to reach $91.96 billion by the year 2015 fueled by continuous technology developments, up-gradation of gaming platforms, rising broadband penetration, and increasing uptake of massively multiplayer online games and wireless gaming.

Developing economies in Asia-Pacific and Latin America are poised to drive future growth in the marketplace, said a press release.

The multi-player gaming concept, also known as MMOG, has led to a widespread phenomenon of online gaming in Internet cafés, and conversely a strong market for online gaming.

Strong growth in the MMOG sector will stem from East Asia, Japan, and Europe. Ease of operation and fascinating features lend traction to the growth and popularity of online games.

Also, the ability to utilize wireless devices such as, personal digital assistants (PDAs), iPhones, and mobile phones as portable gaming devices has been driving the market for wireless/mobile gaming. The large base of mobile phone subscribers, especially in the developing markets, who have yet to transition into hardcore mobile game users, represent a huge untapped market.

According to the report, United States, and Europe collectively account for more than half of the world Video games software market estimated in 2009.

Console Video Games Software market represents a large but mature market, characterized by cyclical industry patterns and subject to superseding popularity of the relatively faster growing wireless and online platforms.

Increased usage of broadband services, growth in content development for internet-based games, and elevated gaming experience of online games are primary factors forecast to drive sales in online gaming market.

The report titled "Video Games": A Global Strategic Business Report", published by Global Industry Analysts, Inc., provides a comprehensive review of market trends, issues and challenges, product profile, recent developments, mergers, acquisitions, profiles of major players and other strategic industry activities.

Analysis is presented for major geographic markets such as US, Canada, Japan, France, Germany, Italy, the UK, Spain, Russia, Asia-Pacific, Middle East and Latin America. Analytics for the period 2001 through 2015 are provided in terms of product, added the release.