A Surge in the use of smartphones for Online Gaming is expected to drive Market Growth.
According to a new market research report titled ‘ Online Gaming Market by Model (Free-to-play, Pay-to-play), Genre, Revenue Stream (Media & Broadcasting Rights, Advertisement & Sponsorships, Others), Platform, Streaming (Live Streaming, On-demand Streaming) and Geography — Global Forecast to 20 30’ , the online gaming market is expected to register a CAGR of 19.6 % from 2023 to 2030 to reach $431.87 billion by 2030. Online gaming can be referred to the games played through the internet or over a computer network. Online games can be played on devices such as dedicated video game consoles like PlayStations, Xboxes, and Nintendo Switches. The rising internet connectivity, increasing adoption of smartphones, and the advent of high bandwidth network connectivity, such as 5G, have further increased the demand of the gaming market across the globe. In addition, new monetization models and in-game advertisements and sponsorships are expected to offer significant opportuniti...