Online Action Games Market Size

Online Action Games Market Analysis

The online action games market is anticipated to grow at a CAGR of 8.94% over the forecast period. The growing use of smartphones and the internet is one of the primary aspects that fosters the growth of the online action games market. In recent times, online action games have become a key practice for young people to pass their leisure time, and hence a crucial factor that accelerates the market growth.

• Technological developments, such as virtual reality (VR), and ongoing innovations in hardware and software to improve the real-time rendering of visuals and graphics are anticipated to fuel market growth throughout the projected period. Moreover, the market is expected to grow due to the widespread use of smartphones, rising internet penetration, and the accessibility of online games through various platforms.
• The growing trend of professional gaming, the surge in internet penetration worldwide, and the rise of MMORPG and RPG games and free-to-play games in recent decades highly augment the overall demand for the online action games market.
• According to ESA's new data, the US gaming population was more than 227 million in 2021, who spend, on average, 13 hours playing each week. According to statistics, 67% of adults and about 76% of Americans under 18 play video games. Even 7% of those over 65 enjoy playing video games. In the United States, video game players are generally 31 years old. Furthermore, according to globalxetfs, 83 % of video game sales occur online.
• The surge in the number, especially children becoming avid video game players, frequently results in addiction. It interferes with their academic progress and increases social anxiety. These factors discourage parents from getting kids gaming systems. In April 2021, a reputable addiction recovery organization called "The Recovery Village" reported that over 2 billion individuals played video games worldwide, with 1-10% of those suffering from obsessive addiction disorders. Video game addiction can also lead to mental health problems, which makes parents reluctant to buy them for their children. This will probably hinder the expansion of the market.
• The COVID-19 pandemic increased the overall involvement of gamers, which is anticipated to have a beneficial effect on the online action games market. Online gaming is becoming increasingly popular as a kind of escape, especially in the countries like the United States and the United Kingdom, where many workers are furloughed but still paid and have nowhere else to spend their money. With limits put in place in America, Verizon claims that overall internet gaming traffic surged by 75% during the pandemic. Average daily user engagement on the role-playing game "Destiny 2" went up by 10% worldwide and up by 20% in regions hit the hardest by the coronavirus, according to video game producer Bungie.