The video game industry is one of the fastest growing industries in the world, representing a massive 2.5 billion gamers across the globe. The revenue forecast of $152.1 billion for 2019 alone represents a 9.6% growth YoY - almost double the growth of the apparel industry, which has been growing steadily for decades. [1]
The three major divisions of this lucrative market are mobile games, console games and PC games-all of which are growing at different rates. 2018 showed mobile gaming outpacing the revenue of the two others, indicating an expected surge from tech companies in this sector.
Today at its latest iPhone event, Apple unveiled Apple Arcade, a subscription gaming service that will launch later this month. With this tech giant getting involved, it's only a matter of time before more competitors enter the market.
What companies are you watching in this space?
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