Tuesday, November 3, 2020

Forecasted Growth of the Gaming Industry


Joe Masters received his juris doctor from Yale Law School in 2004. While attending Yale, Joe Masters led operations at TrentSoft in New Haven, Connecticut, as company president. In his role at TrentSoft he is responsible for various types of software development, including computer games like Mutant Chicken Races.


Already the most profitable sector of the entertainment industry by a large margin, The video game industry is poised for significant growth over the next few years, according to market experts. The industry was valued at $151.05 billion in 2019, with an expected growth rate of 12.9 percent between 2020 and 2027. Powered primarily by the PC gaming sector, the video game market is expected to exceed $300 billion by 2025.

By comparison, television and television streaming services, which represent gaming’s only competitor in entertainment, was valued at $105 billion in 2018. Avengers: Endgame, meanwhile, stands as the highest grossing motion picture of all time, with a global gross of $2.79 billion. Rockstar Games’ Grand Theft Auto V, in comparison, surpassed $1 billion in sales in just 3 days upon the game's release in 2013.

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