The Europe Video Game Market would witness market growth of 11.6% CAGR during the forecast period (2022-2028).
Game producers are introducing several games throughout multiple genres, such as action, role play, simulation, and strategy, on social media to attract customers, discovered that many people use social media to locate their preferred video game. Video game and accessory sales are also being driven by the growing popularity of e-sports events and the growing number of professional players. Gaming's potential as an educational tool for developing cognitive learning is also being investigated. The idea of "gaming to learn" is still in its early stages, but it is gaining traction.
The increasing popularity of esports and increased awareness of video games are two significant factors driving the video game sector forward. Furthermore, the increasing number of tournaments and events with large rewards, as well as long-term investment efforts adopted by market players, are expected to provide new growth avenues for the esports market over the projection period.
More people across this region are pursuing esports as a professional career due to the rapidly expanding esports industry in multiple countries. Moreover, many universities and schools in this region offer specialized education courses as well as scholarships for top game or esports players.
According to the government, Esports has the potential to become a real national strength in the United Kingdom, capitalizing on world-class video games, entertainment, and sports sectors. The rapid increase in online esports audience numbers, as well as the growing number of esports events and investments in the UK, suggest that there is a strong platform to build on. During the Covid-19 shutdown, esports emerged as a source of entertainment and a method to connect with others.
It has been Europe that has played an important role in the growth of the esports industry. It is not surprising that Europe produced some of the earliest organizations that popularized esports, particularly in the West. ESL, perhaps the largest esports organization, originated in Germany.
The Germany market dominated the Europe Video Game Market by Country in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $20,403.1 million by 2028. The UK market is poised to grow at a CAGR of 10.6% during (2022 - 2028). Additionally, The France market would display a CAGR of 12.4% during (2022 - 2028).
Based on Type, the market is segmented into Offline and Online. Based on Device, the market is segmented into Mobile, Console, and Computer. Based on countries, the market is segmented into Germany, UK, France, Russia, Spain, Italy, and Rest of Europe.
Free Valuable Insights: The Global Video Game Market will Hit $413 Billion by 2028, at a CAGR of 11.8%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Electronic Arts, Inc., Nintendo Co., Ltd., Rovio Entertainment Corporation, Microsoft Corporation, Lucid Games Ltd., Tencent Holdings Ltd., Activision Blizzard, Inc., Sony Corporation, Apple, Inc., and The Walt Disney Company.
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