Autore: Mohit Patil

The global sports footwear market size was USD 93.57 billion in 2020 and is projected to grow from USD 97.42 billion in 2021 to USD 134.99 billion in 2028 at a CAGR of 4.8% during the 2021-2028 period. This information is given by Fortune Business Insights™ in a report titled, “Sports Footwear Market, 2023 – 2028.” 

List of Key Players Profiled in the Sports Footwear Market Report:

• Under Armour, Inc. (Baltimore, U.S.)
• Skechers, USA Inc. (Manhattan Beach, U.S.)
• Fila Holdings Corp (Seoul, South Korea)
• Converse (Boston, U.S.)
• Diadora S.p.A. (Caerano di San Marco, Italy)
• ASICS Corp. (Chuo City, Japan)
• Nike Inc. (Beaverton, U.S.)
• Adidas Group (Herzogenaurach, Germany)
• MIZUNO Corporation (Chiyoda City, Japan)
• Puma SE (Herzogenaurach, Germany)

Report Coverage-

The report involved four notable activities in projecting the current size of the sports shoes industry. Exhaustive secondary research was conducted to gather data about the parent market. Our next step included primary research to authenticate these sizing, assumptions, and findings with numerous industry experts. We have also used bottom-up and top-down approaches to calculate the market size.

Drivers & Restraints-

Rising Number of Gyms and Prevalence of Chronic Ailments to Accelerate Growth

The rising cases of various chronic diseases backed by the lack of exercise are anticipated to drive the sports footwear market growth in the near future. Also, surging health consciousness among people living in urban areas would aid growth. The International Health & Fitness Association, for instance, mentioned that the global fitness club membership reached 183 million in 2019. This proves that the development of robust sports infrastructures and gyms in emerging countries would contribute to growth. At the same time, the high demand for sports shoes with numerous innovative features, such as lightweight and increased functionality, would propel growth. However, the high costs of these shoes may hamper their demand.

Factors Affecting the Growth of the Sports Footwear Market:

• Increasing Sports Participation: The growth of the sports footwear market is closely linked to the rising participation in sports and fitness activities. As more people engage in sports and fitness, there is a greater demand for specialized footwear designed to enhance performance and provide comfort and support during physical activities.
• Changing Consumer Lifestyles: Changing consumer lifestyles, with a greater emphasis on health and wellness, have contributed to the growth of the sports footwear market. Consumers are increasingly adopting active lifestyles and prioritizing fitness activities, which drives the demand for sports footwear.
• Technological Advancements: Technological advancements in the sports footwear industry have significantly influenced its growth. Companies are constantly developing innovative materials, cushioning technologies, and designs to enhance performance, durability, and comfort. These advancements attract consumers seeking the latest features and improvements in sports footwear.
• Fashion and Style Trends: Sports footwear has become a fashion statement, with consumers seeking trendy and stylish designs. The influence of athletes, celebrities, and social media has contributed to the demand for sports footwear as a fashion accessory. Consumers often choose sports footwear that aligns with their personal style, which drives the market growth.
• E-commerce and Online Retailing: The growth of e-commerce and online retailing has played a significant role in expanding the sports footwear market. Online platforms provide a convenient and accessible way for consumers to explore a wide range of products, compare prices, and make purchases. The ease of online shopping has contributed to increased sales of sports footwear.
• Sports Sponsorships and Endorsements: Sports sponsorships and endorsements by athletes have a considerable impact on the sports footwear market. When popular athletes endorse specific brands or products, it creates brand visibility, trust, and a sense of aspiration among consumers. This can lead to increased sales and market growth for the endorsed footwear.
• Health and Fitness Awareness: Growing awareness about the importance of physical fitness and the health benefits of sports activities has positively influenced the sports footwear market. Consumers are increasingly conscious of the need for proper footwear to prevent injuries and improve performance during exercise or sports.
• Demographic Factors: Demographic factors such as population growth, urbanization, and the rise of middle-class populations in developing countries also contribute to the growth of the sports footwear market. As disposable incomes increase and more individuals seek an active lifestyle, the demand for sports footwear rises.
• Product Innovations and Customization: Continuous product innovations and customization options have played a crucial role in driving the growth of the sports footwear market. Consumers are looking for footwear that caters to their specific needs, such as specialized shoes for different sports activities or shoes designed for specific foot conditions.

Segments-

Men Segment Held more than 50% Share in 2020: Fortune Business Insights™

Based on gender, the market is trifurcated into kids, women, and men. Amongst these, the men segment generated more than 50% in terms of the sports footwear market share in 2020. This growth is attributable to the increasing participation of men, as compared to the other two genders. The U.S. Bureau of Labour Statistics mentioned that men spent around 5.7 hours in sports activities in the country in 2018. But, the count was around 4.9 hours for women.

Regional Insights-

Increasing Participation in Sports and Adventurous Activities to Help North America Growth

Geographically, North America procured USD 38.99 billion in 2020 in terms of revenue. This growth is attributable to the increasing participation of people residing in the region in multiple adventures and sports activities. In January 2020, for instance, the Outdoor Industry Association stated that approximately 50.5% of people participated in outdoor activities in 2018. On the other hand, Asia Pacific is estimated to be the fastest-growing region in the upcoming years because of the high consumer expenditure in sports type of footwear.

Competitive Landscape-

Key Players Focus on Introducing Innovative Products to Intensify Competition

The global market contains a large number of companies that are constantly striving to compete with their rivals. To do so, they are majorly participating in new product launches to attract more customers.

Below are the two significant industry developments:

• March 2020: Adidas introduced its ‘Faster Than’ campaign and developed a new line of shoes that would help runners achieve their goals. The new SL20 design is lightweight and features a unique Lightstrike midsole.

Browse Detailed Summary of Research Report:

https://www.fortunebusinessinsights.com/sports-footwear-market-102216

The global hand sanitizer market size was valued at USD 2.98 billion in 2020 and reached USD 2.79 billion in 2021. The market size is expected to reach USD 3.47 billion by 2028, exhibiting a CAGR of 3.1% during the forecast period. Innovators and business people across the globe are rehashing their plans of action considering the Covid pandemic. In the craft cocktail arena, breweries and distilleries are transitioning their focus from spirits to hand sanitizers. For example, in May 2020, Doctor Shultz's, collaborated with Ilthy, a dress brand for assembling and providing hand sanitizers and face masks.

Furthermore, increasing awareness regarding cleanliness practices and strong demand for the product for the development of personal care products may enhance industry growth. Fortune Business Insights™ provides this information in its report titled “Hand Sanitizer Market, 2021-2028”

List of major companies profiled in the hand sanitizer market are:

• Reckitt Benckiser Group Plc (U.K.)
• Gojo Industry Inc. (U.S.)
• Henkel AG & Company (Germany)
• Himalaya Global Holdings Ltd. (India)
• Unilever Plc. (U.K.)
• Bacardi Limited (Bermuda)
• CVS Health (U.S.)
• Best Sanitizer Inc. (U.S.)
• Proctor & Gamble (U.S.)
• SC Johnson & Son, Inc. (U.S.)

Report Coverage

The report provides a detailed analysis of the top segments and the latest trends in the market. It comprehensively discusses the driving and restraining factors and the impact of COVID-19 on the market. Additionally, it examines the regional developments and the strategies undertaken by the market's key players.

The hand sanitizer market is profoundly divided with the presence of an enormous number of territorial and nearby players. The market players face extraordinary rivalry, particularly from the top producers of this market as they have an enormous buyer base, solid memorability, and tremendous conveyance organizations. Organizations have been carrying out different development methodologies, for example, associations and new item dispatches, to remain ahead in the game.

Drivers and Restraints

Strong Government Support for the Promotion of Hygiene Products to Propel Industry Progress

Hand sanitizers are anti-infection solutions that eliminate germs and viruses efficiently. Strong governmental support for hygiene products’ promotion may enhance hand sanitizer adoption. For example, the World Health Organization (WHO) announced a campaign titled “Seconds Save Lives, Clean your Hands” to promote hand hygiene awareness among the people. Further, the rising infrastructural facilities such as specialty stores, shopping malls, and retail outlets are expected to enhance hand sanitizers' adoption. Further, the rising consumer preferences toward beauty and healthcare products may drive the hand sanitizer market growth.

However, the abundance of alternative products may hamper the industry’s growth.

Segmentation

Gel Segment to Hold Major Share Attributable to its Effective Germ Protection

By product form, the market is segmented into liquid, gel, and foam.

The gel segment is expected to grow rapidly due to its effective germ protection. Furthermore, its ability to easily spread on hands enhanced hand sanitizer sales. Moreover, quicker sanitization and drying property of gels may enhance segmental growth.

Alcohol-Based Sanitizers to Dominate Owing to Rapid Adoption in Hospitals

By type, the market is bifurcated into alcohol-free and alcohol-based sanitizers.

The alcohol-based sanitizer segment is expected to hold a dominant market share because of its extensive adoption in hospitals and effectiveness in germ elimination. Furthermore, the anti-microbial ability of alcohol-based sanitizers may incite industry growth

Supermarket/hypermarket Stores Segment to Dominate Owing to the Availability of a Wide Variety of Products

By distribution channel, the market is categorized into online retail, supermarkets/hypermarkets, pharmacy stores, and others.

The supermarkets/hypermarkets segment is expected to dominate owing to the availability of various products. Furthermore, the availability of discounts is expected to enhance product demand.

Hospital Segment to Dominate Attributable to Strong Demand for Sanitizers

By end-user, it is classified into households, hospitals, restaurants, schools, and others.

The hospital segment is expected to hold a dominant market share due to the strong demand for sanitizers to maintain a clean and hygienic environment. Moreover, the rising health concerns among staff and doctors in clinics and hospitals may elevate demand.

Regionally, it is clubbed into North America, Europe, Asia Pacific, South America, and the Middle East & Africa.

Regional Insights

Presence of Prominent Players to Propel Market Progress in North America

North America is expected to dominate the hand sanitizer market share because of the presence of prominent players. The market in North America stood at USD 1.38 billion in 2020 and is likely to gain a huge portion of the global market share in the upcoming years. Furthermore, rising sanitization practices and personal hygiene is expected to bolster industry growth.

In Europe, efficient medical facilities are expected to enhance hand sanitizer adoption. As per the State of the Health in the EU, Italy, France, Italy, and Spain have excellent medical facilities compared to other European countries. These factors may enhance the market growth.

In Asia Pacific, the strong adoption of personal care products is expected to boost market progress. As per the ‘China Consumer Market 2019’ report, personal care product sales increased nearly 8 times in 2019. In addition, rising government initiatives for developing programs associated with personal care products in India are expected to propel market growth.

Competitive Landscape

Major Players Launch Novel Products to Boost Brand Image

The prominent companies operating in the market announce novel products to boost brand image. For example, Cavinkare announced cost-effective products under the Nyle, Raaga, and CHIK brands in March 2020. This development aims to provide hygiene solutions to people suffering from disease-causing bacteria and viruses. This strategy may allow the company to enhance its brand image. Furthermore, companies adopt novel product launches, mergers, acquisitions, and expansions to strengthen their market position.

Key Industry Development

• April 2020- Nycil announced sanitizer products under its ‘germ protection for family’ category for business expansion during the pandemic.

Browse Detailed Summary of Research Report:

https://www.fortunebusinessinsights.com/hand-sanitizer-market-102710

According to Fortune Business Insights™, the global hand wash market size was USD 3.29 billion in 2020. The market is projected to grow from USD 2.74 billion in 2021 to USD 4.29 billion in 2028 at a CAGR of 6.6% in the 2023-2028 period. This crucial piece of information is presented by Fortune Business Insights™ in its report titled, “Hand Wash Market, 2023-2028.”

According to our analysts, the increasing occurrence of ailments such as diarrhea, intestinal sickness, and others, combined with the rising hygiene alertness among the global population, affects the demand for personal care products. Additionally, surging dust and environmental contamination concerns across the world give an escalation to the requirements for skin hygiene and sanitary products.

Fortune Business Insights™ lists out all the hand wash market companies that are presently striving to reduce the impact of Covid-19 pandemic on the market:

• Unilever PLC (U.K.)
• Avon Product, Inc. (U.K.)
• C. Johnson & Son, Inc. (U.S.)
• Amway Corporation (U.S.)
• Henkel AG & Co. KGaA (Germany)
• The Procter & Gamble Company (U.S.)
• Reckitt Benckiser Group PLC (U.K.)
• Vi-Jon, Inc. (U.S.)
• Godrej Group (India)
• 3M (U.S.)

Report Coverage

We provide our reports which are conducted with an all-inclusive examination approach that majorly emphasizes delivering precise material. Our scholars have applied a data triangulation method which further assists us in offering trustworthy estimations and testing the general market dynamics accurately. Further, our analysts have received admission to numerous international as well as regional funded registers for providing the up-to-date material so that the stakeholders and business professionals invest only in essential zones.

Drivers and Restraints

Rising Health Alertness among Individuals to Support Market Growth

The development of the worldwide economy has occasioned a varying lifestyle and an augmented standard of life and, therefore, the implementation of a health-alert attitude towards life. This bolsters the utilization of personal care products, such as hand wash, for health safeguarding resolutions.

Moreover, the huge existence of hospitals and clinical infrastructure is anticipated to enhance the demand for sanitary products, as numerous hygiene and personal care products are fundamentally utilized in hospitals to preserve hygiene and a bacteria-free surrounding. This is expected to boost the hand wash market growth during the forecast period.

Segmentation

Based on the product, the global market is classified into ordinary and waterless hand wash. The ordinary products segment dominates the market as these items deliver augmented hydration and bacterial protection to the skin.

On the basis of end-user, the market is divided into residential, commercial, and industrial.

In terms of sales channels, the market is branched into supermarket/hypermarkets, pharmacies, and online channels.

Geographically, the market is segregated into North America, Europe, Asia Pacific, South America, and the Middle East & Africa.

Regional Insights

North America to Remain at Forefront Stoked by Higher Cases of COVID-19

The North American market stood at USD 1.12 billion in 2020. North America held the maximum hand wash market share owing to the surging demand for palm washing products, especially due to an all-encompassing incidence of the COVID-19 outbreak in nations such as the U.S. and Canada.

The Asia Pacific is projected to hold the second-largest position in the market over the forecast period of 2021-2028. The mounting suburbanization pace in leading nations such as China and India would result in the implementation of improved and sanitized habits among people.

Europe is predicted to be the fastest-growing region during the forecast period on account of the existence of mega hand sanitizing production brands such as L’Oréal, Avon, Unilever, and others.

Rеаѕоnѕ to Get thіѕ Rероrt:

• A qualitative and quantitative market study based on segmentation that includes both economic and non-economic factors
• Data on market value for each section and sub-segment
• Indicates the region and market segment that is likely to expand the fastest and dominate the market.
• The consumption of the product/service in each region is highlighted, as are the factors affecting the market within each region.
• The competitive landscape includes the top players' market rankings, as well as new service/product launches, collaborations, company expansions, and acquisitions made by the companies profiled in the last few years.

Competitive Landscape

Novel Presentations and Procurements Set to Augment Market Growth

Chief players in the market frequently come up with competent tactics that involve collaborations and partnerships, procurements and mergers, product unveilings, and so on. These approaches elevate their position as dominating players and profit the other engaged companies as well.

Industry Development

• April 2020: Marico declared the unveiling of Mediker SafeLife hand wash in Bangladesh. This presentation is estimated to lead to the sale of the product at a promotional cost, plus the excess money earned in the upcoming six months will be offered to the Prime Minister Relief Fund to tackle the emergency crisis of coronavirus.

Browse Detailed Summary of Research Report:

https://www.fortunebusinessinsights.com/hand-wash-market-102846

The global private tutoring market size is expected to reach USD 171.93 billion by 2028, exhibiting a CAGR of 8.3% during the forecast period. The requisite for higher education in developing countries will subsequently improve the prospects of private tutoring, in a report, titled “Private Tutoring Market, 2023-2028.” The market size stood at USD 92.59 billion in 2020. 

The Private Tutoring Market Report covers potential improvement drivers as properly as the modern-day key of market share, penetration of a number of kinds, technologies, applications, and areas through forecast till 2028.

How will you analyze the competitional analysis between top key players included in the report?

With the aim of clearly revealing the competitive state of the industry, we concretely analyse not only the leading plyers that have a voice on a global scale, but also the regional small and medium-sized players that play key roles and have plenty of potential growth.

Who are some of the key players operating in the Private Tutoring Market and how high is the competition 2023?

• Educomp Solutions Ltd. (Gurgaon, India)
• Sylvan Learning, LLC (Baltimore, U.S.)
• Daekyo Co., Ltd. (Seoul, South Korea)
• Kumon Institute of Education Co., Ltd. (Tokyo, Japan)
• Kaplan Inc. (New York, U.S.)
• Action Tutoring (London, U.K.)
• Chegg, Inc. (Santa Clara, U.S.)
• Ambow Education Holding Ltd. (Beijing, China)
• TAL Education Group (Beijing, China)
• Mathnasium LLC (Los Angeles, U.S.)

What is a major information source?

Both Primary and Secondary data sources are being used while compiling the report.
Primary sources include extensive interviews of key opinion leaders and industry experts (such as experienced front-line staff, directors, CEOs, and marketing executives), downstream distributors, as well as end-users. Secondary sources include the research of the annual and financial reports of the top companies, public files, new journals, etc. We also cooperate with some third-party databases.

How Did We Conduct Our Research?

The report involved four notable activities in projecting the current market size. Exhaustive secondary research was conducted to gather data about the parent and peer markets. Our next step included primary research to authenticate these sizing, assumptions, and findings with numerous Private Tutoring industry experts. We have also used bottom-up and top-down approaches to calculate the market size.

Which are the driving factors of the Private Tutoring market?

The increasing competition among students has resulted in high demand for private tutoring, which will boost the market growth. The rising difficulty in level entrance exams by renowned schools or universities can create lucrative opportunities for this market. As per the Global Education Census Report 2018 published in November 2018 by Cambridge Assessment International Education, about 4 in 10 surveyed students (43%) had received private tuition outside the school worldwide, wherein in China, it accounted for more than 5 in 10 observed students (57%), followed by India (55%), and 1 in 10 students in the U.S. Furthermore, the increasing expectations of parents for high marks in academics from their children will accelerate the growth of the market. Besides, raising consciousness regarding learning in developing nations will simultaneously enable speedy expansion of the market.

Remote Teaching to Amplify Growth During Coronavirus

The temporary closure of education institutes due to the pandemic has adversely impacted the education industry. As per the article, ’The Impact of the Covid-19 Pandemic on Education Financing’, published in May 2020 by World Bank Group, the real growth in education spending per capita in all countries, as per downside forecast, was estimated to decline at a rate of -5.7% in 2020. However, the shift towards online education will consequently stabilize the market amid COVID-19. Besides, the growing popularity of online learning due to its convenience will boost the private tutoring market growth. 

Which segment is expected to lead the global Private Tutoring Market Market during the forecast period?

By Subjects 

• Academic
• Non-academic

By Application 

• Up-to K-12
• Post K-12

By Mode

• Offline
• Online

By Geography

• North America
• Europe
• Asia Pacific
• South America
• Middle East & Africa

Private Tutoring Market Research Scope:

• Global Private Tutoring Market size and growth projections (CAGR), 2021-2028
• COVID impact on the Private Tutoring industry with future scenarios
• Private Tutoring Market size, share, and outlook across 5 regions and 16 countries, 2021-2028
• Private Tutoring Market size, CAGR, and Market Share of key products, applications, and end-user verticals, 2021-2028
• Short and long-term Private Tutoring Market trends, drivers, restraints, and opportunities
• Porter's Five forces analysis, Technological developments in the Private Tutoring Market, Private Tutoring supply chain analysis
• Private Tutoring trade analysis, Private Tutoring Market price analysis, Private Tutoring supply/demand
• Profiles of Top leading companies in the industry overview, key strategies, financials, and products
• Latest Private Tutoring Market news and developments analysis

Which regions are dominating the Private Tutoring Market growth?

The market in Asia Pacific is expected to hold the largest private tutoring market share during the forecast period. The growth is attributed to coaching classes' popularity primarily in China, Japan, South Korea, and Southeast Asian nations. In May 2020, the press release of Yonhap News Agency reported the results of an annual survey conducted by the National Statistics Korea and the Ministry of Gender Equality and Family. It was reported that, in 2019, about ¾th of the students received private tutoring in South Korea, wherein students spent, on an average, 6.5 hours/week for this tutoring. Also, the increasing middle-class population is likely to spur business opportunities for the market in Asia Pacific.

Browse Detailed Summary of Research Report:

https://www.fortunebusinessinsights.com/private-tutoring-market-104753

The global halal cosmetics market size was USD 21.20 billion in 2020. The market is anticipated to grow from USD 33.3 billion in 2021 to USD 77.34 billion by 2028 at a CAGR of 12.7% in the 2023-2028 period. This information is provided by Fortune Business Insights™, in its report titled, “Halal Cosmetics Market, 2023-2028.”

According to our researchers, the surging consumer inclination for chemical-free, organic ingredient-grounded cosmetics, and personal care products is fueling the market growth. Moreover, important players remain to focus on R&D and innovation activities, which greatly enhance sales.

Fortune Business Insights™ lists out all the halal cosmetics market companies that are presently striving to reduce the impact of Covid-19 pandemic on the market:

• Ivy Beauty Corporation Sdn Bhd (Selangor, Malaysia)
• Iba Cosmetics (Ahmedabad, India)
• Talent Cosmetics (Seoul, Korea)
• Clara International Beauty Group (Selangor Darul Ehsan, Malaysia)
• Kao Corporation (Tokyo, Japan)
• Amara Halal Cosmetics (California, U.S.)
• INIKA Organic (Victoria, Australia)
• Elaheh Halal Cosmetics Inc (New York, U.S.)
• Flora & Noor (Kentucky, U.S.)
• Martha Tilaar Group (Jakarta, Indonesia)

Report Coverage

The report presents a holistic study of the disposable medical gloves market along with current trends and future anticipations to establish proximate investment gains. An in-depth analysis of any upcoming opportunities, threats, competitions or driving factors is also mentioned in the report. Step by step, a thorough regional analysis is offered. The COVID-19 impacts have been added to the report to help investors and business owners understand the threats better. The top players in the market are identified, and their strategies to bolster the market growth are shared in the report.

Driving Factors

Quality and Safety of Cosmetics Set to Support Market

Halal cosmetics are produced or obtained from halal ingredients, comprising oils, vitamins, organic solvents, proteins, plant, and botanical extractions, as well as antioxidants. They are created utilizing a complex combination of all these components under halal standards. Manufacturers carefully monitor the products to match the halal grade. The safety and quality of halal cosmetic principles are difficult in comparison with normal cosmetics products that are available in market for sale. This factor also contributes to the heightened popularity of halal-certified cosmetics worldwide. Therefore, this is estimated to boost the halal cosmetics market growth during the forthcoming era.

Segments

Based on product type, the market is segmented into skincare, haircare, makeup, and others. The skincare segment held a dominant share of the market in 2020.

Based on distribution channel, the market is categorized into store-based/offline and non-store-based/online.

Geographically, the market is segregated into North America, Europe, Asia Pacific, South America, and the Middle East & Africa.

Regional Insights

Russia appeared as a notable market in Europe in 2020 with 28.60% market share. The country is projected to preserve its considerable position through the forecast period.

The U.S. led the North America market in 2020. In recent years, it has been observed a substantial rise in the number of novel participants capitalizing on the business prospects in the country.

Asia Pacific held the most significant halal cosmetics market share in 2020 and is expected to witness sturdy growth over the forecast period.

Competitive Landscape

Inventive Product Launch Declarations by Vital Players to Bolster Market Growth

The fundamental players implement numerous tactics to boost their position in the market as dominating companies. One such fundamental tactic is procuring companies to boost the brand value among users. Another effective tactic is intermittently unveiling innovative products with a methodical review of the market and its target audience.

Industry Development

June 2021- Flora & Noor, a Muslim-possessed skin care brand presented novel halal sanctioned skin care products. The company presents toners, serums, cleaners, moisturizers, body scrubs as well as bath bombs, and all these products are vegan, cruelty-free, and halal approved.

Browse Detailed Summary of Research Report:

https://www.fortunebusinessinsights.com/halal-cosmetics-market-106602

The global cosmetics industry was valued at USD 277.67 billion in 2020 and is projected to grow from USD 287.94 billion in 2021 to USD 415.29 billion in 2028, exhibiting a CAGR of  5% during the 2021-2028 period.

In recent times, demand for makeup and skincare products has surged dramatically. Both men and women use it to enhance their overall appearance.  The industry offers a wide variety of products, such as hair care, face care, lip care, and others.  Additionally, the increasing demand for anti-aging creams and serums and the development of advanced tools and innovative packaging is attracting consumers. Besides, the new trend of personalized products for a specific person, based on their hair type, skin tone & texture, and eye color, is generating traction. The manufacturers are also trying to grab consumers' attraction by coming up with sustainable packaging and chemical-free products to cater to the demand of every individual.

List of Key Players Profiled in the Cosmetics Industry Report:

• The Estée Lauder Companies Inc. (New York, U.S.)
• Beiersdorf AG (Hamburg, Germany)
• Shiseido Co., Ltd. (Tokyo, Japan)
• Coty Inc. (New York, U.S.)
• Natura & Co. (São Paulo, Brazil)
• Kao Corporation (Tokyo, Japan)
• Johnson & Johnson Services, Inc. (New Jersey, U.S.)
• L’Oréal S.A. (Paris, France)
• Unilever (London, U.K.)
• Procter & Gamble Co. (Ohio, US)

Market Segmentation:

By category, the market is segmented into hair care, skincare, makeup, and others. By gender, it is bifurcated into men and women. By distribution channel, it is divided into specialty stores, hypermarkets/supermarkets, online channels, and others. Finally, based on region, the market is categorized into North America, Europe, Asia Pacific, and the rest of the world. 

Factors Affecting the Growth of the Cosmetics Market:

There are several factors that can affect the growth of the Cosmetics Market. Some of these factors include:

• Increasing Disposable Income: Rising disposable income levels among consumers, particularly in developing countries, have contributed to the growth of the cosmetics market. As people have more money to spend on non-essential items, they are willing to invest in cosmetics and personal care products.
• Changing Consumer Preferences: Consumer preferences have shifted towards a greater focus on personal grooming, beauty, and self-care. There is a growing demand for cosmetics that enhance physical appearance and cater to specific skin types or concerns. This change in preferences has fueled the growth of the cosmetics industry.
• Influence of Social Media and Influencers: The advent of social media platforms and the rise of beauty influencers have had a significant impact on the cosmetics market. Consumers now have access to a wide range of beauty-related content, product reviews, and tutorials. Social media platforms provide a platform for cosmetic brands to engage with their target audience and promote their products, leading to increased sales.
• Technological Advancements: Advancements in technology have revolutionized the cosmetics industry. Innovations such as improved formulations, advanced manufacturing processes, and product customization options have expanded the product offerings and improved the quality of cosmetics. Technological advancements also enable companies to market their products more effectively, reach a wider audience, and provide personalized recommendations.
• Growing Men's Grooming Segment: The men's grooming segment has witnessed substantial growth in recent years. Men are increasingly conscious of their appearance and are willing to invest in grooming products. Cosmetic companies have recognized this trend and have launched specific product lines targeting the male demographic, contributing to the overall growth of the cosmetics market.
• Increasing Awareness of Health and Wellness: There is a growing awareness among consumers about the importance of maintaining healthy skin and overall well-being. This has led to an increased demand for cosmetics that contain natural and organic ingredients, are free from harmful chemicals, and offer skincare benefits. The focus on wellness and sustainability has prompted cosmetic companies to develop and promote products that align with these values.
• Expansion of E-commerce: The rise of e-commerce has significantly impacted the cosmetics industry. Online platforms provide consumers with convenience, a wider product selection, and the ability to compare prices and reviews. E-commerce has opened up new market opportunities for cosmetic brands, especially small and niche players, enabling them to reach global consumers and compete with established brands.
• Urbanization and Globalization: Rapid urbanization and globalization have influenced the growth of the cosmetics market. As more people move to urban areas and experience exposure to global beauty trends, their demand for cosmetics increases. Cosmetics brands are expanding their presence in urban centers and leveraging global marketing strategies to cater to this growing consumer base.

These factors collectively contribute to the growth and evolution of the cosmetics market, making it a dynamic and competitive industry.

What does the Report Provide?

The market report provides a detailed analysis of several factors, such as the key drivers and restraints that will impact growth. Additionally, the report provides insights into the regional analysis that covers different regions, contributing to the growth of the market. It includes the competitive landscape that involves the leading companies and the adoption of strategies to introduce new products, announce partnerships, and collaborate to contribute to the market growth.

Driving Factors

Availability of Customized Beauty & Skincare Products to Drive Market Growth

In recent times, demand for personalized skincare, hair care is promoting manufacturers on introducing personalization and digitalization in cosmetic products to increase customers. For instance, in February 2020, L’Occitane Group announced the launch of its new range of personalized range called Duolab. The range has a countertop device that functions artificial intelligence (AI) technology. This device helps in finding out one’s skin condition to provide it a face care solution in the form of freshly blended cream. Therefore, increased awareness regarding grooming coupled with technological advancements is expected to support the cosmetics industry statistics 2020 growth in upcoming years.

Regional Insights

Asia Pacific to Dominate the Market Backed by Increasing Urbanization and Standard of Living

Asia Pacific is expected to dominate with market size of USD 102.55 billion in 2020. Increasing urbanization & standard of living, growing number of working women, and rising middle-class population are the key contributing factors for the growth of the market in this region.

North America on the other hand is expected to witness positive growth owing to the rising disposable income and high spending power of the population in the region. Additionally, an increasing number of beauty product stores in the region is also one of the major flourishing factors for the growth of the market during the forecast period. For instance, in February 2020, one of the largest cosmetics retail store Sephora announced its expansion plans, which included the opening of around 100 new stores across the North America region by 2020.

Competitive Landscape

Key Players to Focus on Partnerships and New Launches to Strengthen Market Growth

This market is consolidated by major companies striving to maintain their position by focusing on new launches, collaborations & partnerships, and acquisitions. Such strategies taken up by key players are expected to strengthen its market prospects.

Below are the industry developments:

• January 2020: Natura &Co announced the acquisition of Avon Products, Inc. Avon offers beauty and personal care products. Through this acquisition, Natura aims to expand its product portfolio.
• February 2021: Revlon made a partnership with MDR Brand Management to come up with new cosmetics products and increased consumer engagement across the EMEA, APAC, and America.

Browse Detailed Summary of Research Report:

https://www.fortunebusinessinsights.com/cosmetics-market-102614

The global video games market size was valued at USD 188.73 billion in 2021 and is projected to grow from USD 199.74 billion in 2022 to USD 307.19 billion by 2029, exhibiting a CAGR of 6.3% during the forecast period. Fortune Business Insights™ mentioned this in a report titled, “Video Games Market, 2023-2029.”

List of Key Players Profiled in the Video Games Market Report:

• Sony Group Corporation (Japan)
• Microsoft (U.S.)
• Nintendo (Japan)
• Tencent (China)
• Activision Blizzard (U.S.)
• Electronic arts (U.S.)
• Epic Games (U.S.)
• Take-two interactive (U.S.)
• Ubisoft (France)
• Bandai Namco Holdings Inc. (Japan)

Report Coverage-

The report provides an extensive overview of key drivers and challenges impacting market augmentation over the forecast timeframe. It studies the market thoroughly by fragmenting it into segments and regions. Growth rate and market share estimates of each segment and region are documented as well. Moreover, the report encompasses company profiles section that briefs readers about strategic moves made by leading players and enables them to make informed decisions.

Drivers & Restraints-

Increasing Integration of Advanced Technologies will Stimulate Industry Expansion

The growing integration of 3D, sound effects, high-definition graphics, Augmented Reality (AR), and Virtual Reality (VR) in games increases their appeal. Video games nowadays are very realistic due to their high-quality visual effects, sound effects, and detailing. A shift toward user centricity and personalization is further contributing to the global video games market growth.

On the other hand, rising concerns regarding growing aggression among teenagers due to the promotion of violence in games will act as a challenge for businesses operating in this domain.

Factors Affecting the Growth of the Video Games Market:

• Technological Advancements: Advancements in technology have significantly impacted the video games market. The introduction of high-performance gaming consoles, virtual reality (VR) devices, and powerful gaming PCs has enhanced the gaming experience and attracted a larger audience.
• Increased Access to Internet and Mobile Devices: The widespread availability of high-speed internet and the proliferation of smartphones and tablets have made gaming more accessible than ever before. Mobile gaming has particularly gained popularity, allowing people to play games on the go.
• Rising Disposable Income: As disposable incomes continue to rise globally, consumers have more spending power to invest in leisure activities like gaming. The affordability of gaming consoles, PCs, and games themselves has increased, making them accessible to a broader range of consumers.
• Growing Esports Industry: Esports, or competitive video gaming, has experienced tremendous growth in recent years. The rise of professional gaming tournaments and leagues has attracted a massive audience, driving the demand for video games and related merchandise.
• Expanding Demographic Reach: Video games are no longer limited to a specific age group or gender. The industry has successfully expanded its reach to include a diverse demographic, including children, teenagers, adults, and even older adults. This expansion of the target audience has led to increased market growth.
• Digital Distribution and Online Gaming: The availability of digital distribution platforms such as Steam, PlayStation Network, and Xbox Live has revolutionized the gaming industry. Players can now easily purchase and download games directly to their devices, eliminating the need for physical copies. Online multiplayer gaming has also become increasingly popular, creating social communities and driving engagement.
• Cross-Platform Gaming: The ability to play games across multiple platforms, such as consoles, PCs, and mobile devices, has further contributed to the growth of the video games market. Cross-platform compatibility allows players to connect and compete with friends, regardless of the devices they use.
• Gaming as a Social Activity: Gaming has evolved from being a solitary activity to a social experience. Online multiplayer games, streaming platforms like Twitch, and social media integration within games have fostered a sense of community among players. This social aspect has attracted more individuals to engage in gaming.
• Constant Game Innovation and Diversification: Game developers continuously introduce new and innovative titles, genres, and gameplay mechanics to keep the market dynamic. The introduction of virtual reality, augmented reality, and other immersive technologies has opened up new possibilities and attracted consumer interest.

These factors collectively contribute to the growth of the video games market, which is expected to continue expanding as technology advances and consumer preferences evolve.

Segments-

Increasing Penetration of Smartphones will Drive Market Growth

Based on device, the global market is split into smartphones, PC/laptop, and consoles. Among these, the smartphones segment held the largest video games market share. Increasing adoption of smartphones and easy access to 5G networks resulted in a rise in the number of gamers. Technological advancements in smartphones and availability of high speed internet have boosted mobile gaming, which will also aid market proliferation.

Technological Advancements and Tech Savvy Populace will Aid Market Proliferation

According to age group, the market is divided into generation X, generation Y, and generation Z. Generation Z is tech savvy as they grew up in an era of technological advancements, availability of high speed internet, and growing smart phone penetration.

Launch of Gaming Smartphones Will Propel the Market

As per platform type, the market is arrayed into online and offline. Among these, the online segment captured the largest share due to launch of new smartphones with advanced features, increasing digitization, and rapid internet penetration. The segment consists of various types of games such as first-Person Shooter Games (FPS), Multiplayer Online Battle Arena Games (MOBA), Real-Time Strategy Games (RTS), Battle Royale games, and others.

Geographically, the market is fragmented into North America, South America, Europe, Asia Pacific, and the Middle East & Africa.

Regional Insights-

Asia Pacific to Dominate Stoked by Presence of Leading Players

Asia Pacific is a leading contributor to market growth owing to the presence of leading companies in the region and rising internet and smartphone penetration. The growing usage of smartphones urges developers to focus on developing multiplayer video games such as PUBG and COD to meet the demand of expanding consumer base, which, in turn, propels market expansion.

North America is projected to grow rapidly owing to expanding gaming community, easy access to internet, and availability of devices with advanced technology.

Competitive Landscape-

Product Launches to Promote Market Augmentation

Leading companies often make strategic decisions such as partnerships, mergers & acquisitions, collaborations, and investments in research & developments to maximize profits. One such decision is to launch new products with advanced features to meet growing consumer requirements.

Key Industry Development-

• July 2022: Asus launched the new ROG Phone 6 Pro and ROG Phone 6 and expanded its gaming smartphone line. The phones have IPX4 rating, latest Snapdragon 8+ Gen 1 system-on-chip, 512 GB storage, and up to 18GB RAM.

Browse Detailed Summary of Research Report:

https://www.fortunebusinessinsights.com/video-game-market-102548

The global mosquito repellent market size was valued at USD 6.23 billion in 2021 and is projected to grow from USD 6.51 billion in 2022 to USD 9.30 billion by 2029, exhibiting a CAGR of 5.23% during the forecast period. The rising temperature on the earth due to growing greenhouse gases in the atmosphere has contributed to a rise in the mosquito population. This has elevated the need for products to repel mosquitoes, thus driving market augmentation. This information is provided by Fortune Business Insights™, in its report titled, “Mosquito Repellent Market, 2023-2029.”

Fortune Business Insights™ lists out all the mosquito repellent market companies that are presently striving to reduce the impact of Covid-19 pandemic on the market:

• 3M (U.S.)
• Coghlan’s Ltd. (Canada)
• Dabur (India)
• Godrej Consumer Products Ltd. (India)
• Homs LLC (U.S.)
• New Avon LLC. (U.S.)
• PIC Corporation (U.S.)
• Reckitt Benckiser Group Plc (U.K.)
• S.C. Johnson & Son, Inc. (U.S.)
• Spectrum Brands Holdings Inc. (U.S.)

Drivers and Restraints:

Increasing Occurrence of Insect-Borne Diseases to Propel Product Demand

Growing incidences of insect-borne diseases, such as dengue and malaria, will propel product demand, thus driving market growth. The number of dengue and malaria cases and deaths recorded are very high in rural and semi-urban areas. According to a report published by the World Health Organization, approximately 14 million new cases of malaria were reported in 2020. This will propel product demand and market augmentation in the coming years.

On the other hand, skin reactions, such as swelling, rashes, eye irritation, and itching, associated with the use pf mosquito repellents will act as challenges for businesses operating in this domain.

Segments:

Effective Actions of Coils as Compared to Other Alternatives to Drive Segment Expansion

Based on product type, the market is split into coil, spray, cream and oil, vaporizers, and others. Among these, the coil segment dominated the market in 2021 and is projected to grow significantly in the coming years. Mosquito coils provide immediate action to the surrounding and are also widely available in all places. This, in turn, propels the demand for coils contributing to segment growth.

Chemically Derived Repellents Segment to Lead Backed by their Efficiency 

As per raw material, the market is bifurcated into plant-based repellents and chemically derived repellents. Among these, the chemically derived repellents segment held the largest mosquito repellent market share in 2021. Chemically derived mosquito repellents are the most effective solutions when dealing with mosquitoes. They provide an immediate cure as they are made of concentrated chemicals.

Availability of a Range of Products Propels the Demand for the Supermarkets Segment

According to the distribution channel, the market is segregated into retail stores, supermarkets, online, and others. Among these, the supermarket's segment captured a significant share of the global market in 2021. Supermarkets offer a wide variety of products to consumers, which lets the customers verify the products and select from a range of product portfolio before purchasing.

Geographically, the market is segregated into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.

Regional Insights:

Asia Pacific to Dominate Backed by Rising Consumer Awareness Regarding Benefits of Mosquito Repellents

Asia Pacific held majority of the market share in 2021, owing to growing consumer awareness regarding the benefits of the product. The launch of new product variants and increasing consumer acceptance for these products will aid regional market augmentation. Moreover, the increasing awareness regarding the pros of using the product among slum dwellers will contribute to market augmentation in this region.

North America is projected to record significant growth in the forthcoming years backed by increased production volume of product and growing research & development activities by leading companies and governments. Thus, the surging demand for mosquito repellents and its availability will drive regional market expansion.

The South America market is slated to grow rapidly over the analysis timeframe stoked by the rise in insect borne diseases in the region due to changing weather conditions. Additionally, the construction of hypermarkets and supermarkets is also attracting consumers to buy insect repellent products of different types and contributing to regional market escalation.

Competitive Landscape:

Product Launches by Leading Players to Elevate Market Augmentation

Industry leaders often make tactical decisions such as collaborations, mergers & acquisitions, and partnerships. One such move is the launch of new products to expand product portfolio and meet ever-increasing consumer requirements. For instance, in August 2020, Bodyguard introduced a natural insect repellent cream that is DEET-free and 100% plant-based. Neem and aloe vera are added to the lotion to provide hydration along with protecting against mosquitoes.

Key Industry Development:

• June 2022: Reckitt Benckiser Group PLC partnered with Amazon to enhance channel optimization, brand protection, advertising, and resolve supply chain issues. The company has also signed Amazon’s Climate Pledge to become carbon neutral by 2040, 10 years before the global deadline.

Browse Detailed Summary of Research Report:

https://www.fortunebusinessinsights.com/mosquito-repellent-market-104417

The global baby care products market size was valued at USD 204.75 billion in 2021 and USD 215.13 billion in 2022. The market is expected to reach USD 331.92 billion by 2029 with a CAGR of 6.4% during the forecast period. Baby care products have been growing as they are the basic requirement for any baby. Increase in the number of new born babies has given rise in demand for baby oil, baby shampoo, baby powder, diapers, baby wipes, baby seat and safety products, baby food, baby apparel, and baby toys. Fortune Business Insights™ shares this information in its report titled “Baby Care Products Market, 2023-2029.”

Fortune Business Insights™ lists out all the baby care products market companies that are presently striving to reduce the impact of Covid-19 pandemic on the market:

• Johnson & Johnson (U.S.)
• Kimberly-Clark Corporation (U.S.)
• The Himalaya Drug Company (India)
• Procter & Gamble Company (P&G) (U.S.)
• Honasa Consumer Private Limited (Mamaearth) (India)
• Beiersdorf AG (Germany)
• Sebapharma GmbH & Co. KG (Germany)
• Nestlé S.A. (Switzerland)
• Unilever plc (U.K.)
• Essity AB (Sweden)

Report Coverage

The report provides a detailed analysis of the top segments and latest trends in the market. It comprehensively discusses the driving and restraining factors and the impact of COVID-19 on the market. Additionally, it examines the regional developments and the strategies undertaken by the market's key players.

Drivers and Restraints

Innovation in Baby Food Products to Drive Product Expansion

Innovations in baby care products, which include different blends of fats and proteins is anticipated to drive the baby care products market growth. Increase in demand for high quality infant food products that provide the required nutrition for babies is driving the market growth. In March 2021, Danone, a French company, launched formula milk which will be sold in pre-measured tab format in the U.K. The new formula milk tabs dissolve easily, making it simple and convenient for mothers to feed babies.

However, use of chemicals in baby products makes them unsafe to use on infants. Using such harmful products can lead to various health problems, which is projected to obstruct market growth.

Segments

Cosmetics & Toiletries to Lead Due to a Wide Range of Products

On the basis of product type, the market is divided into cosmetics & toiletries, baby food, baby safety & convenience, and others. Cosmetics & toiletries segment is anticipated to dominate as they are used frequently on baby’s skin. It includes various products such as shampoos, conditioners, soaps, and wipes. They offer various benefits such as rapid hydration and rejuvenated skin. These products are simple to use and offer an efficient way to deal with problems such as dryness, infections, and diaper rashes.

Infants Segment to Lead Due to Growing Demand for Premium Infant Products

Based on end-user, the market is segmented into toddlers and infants. Infants segment is the fastest growing segment as infants can get easily affected and exposed to bacteria. The growing demand for sustainable and premium infant products accelerated the market growth in 2021.

Offline Channel to Lead the Segment Due to Increasing Number of Supermarkets

Based on sales channel, the market is divided into online and offline. Offline segment is expected to have a major part due to rise in supermarkets, hypermarkets, and specialty stores in numerous regions in 2021. Online sales channel is also set to have significant growth due to rise in various e-commerce platforms.

Geographically, the market is segregated into North America, Europe, Asia Pacific, South America, and the Middle East & Africa.

Regional Insights

Asia Pacific to have Dominance in Market Share Due to Increasing Rate of Urbanization

Asia Pacific is expected to govern the baby care products market share as it reached the valuation of USD 67.32 billion in 2021. The region has two of the most populated countries in the world, India and China. Increasing rate of urbanization and rise in spending by the consumers have contributed to the development of the market in 2021.

North America is the second-fastest growing region in the market due to high adoption of baby care kits, including strollers, car seats, baby monitors, and safety gates. Parents in the U.S. focus on products that offer nutritional needs for their babies.

The Europe market is set to have significant growth due to a number of well-informed parents in countries such as Germany, Italy, the U.K., and France.

Competitive Landscape

Acquisition Strategies by Key Players to Develop Market Path

Key players have been focusing on collaboration and acquisition strategies enabling them to gain a competitive edge. In April 2022, ITC, an India-based brand, announced the acquisition of 10% of Blupin Technologies Pvt. Ltd. Later, the company owns the direct-to-consumer mother and baby platform Mylo. Through this acquisition, ITC desires to expand its presence in the baby care D2C market. Focus on growth strategies will help the consumers to gain and expand their consumer base.

Key Industry Development

• July 2022: Johnson & Johnson launched a new skin and hair care brand for babies called "Vivvi & Bloom". The brand is launching shampoo, body lotion, and body massage oil for babies and toddlers. The brand launched the products to meet the increasing need of millennial parents for their little ones.

Browse Detailed Summary of Research Report:

https://www.fortunebusinessinsights.com/baby-care-products-market-104267

The global video games market size was valued at USD 188.73 billion in 2021 and is projected to grow from USD 199.74 billion in 2022 to USD 307.19 billion by 2029, exhibiting a CAGR of 6.3% during the forecast period. Fortune Business Insights™ mentioned this in a report titled, “Video Games Market, 2023-2029.”

List of Key Players Profiled in the Video Games Market Report:

• Sony Group Corporation (Japan)
• Microsoft (U.S.)
• Nintendo (Japan)
• Tencent (China)
• Activision Blizzard (U.S.)
• Electronic arts (U.S.)
• Epic Games (U.S.)
• Take-two interactive (U.S.)
• Ubisoft (France)
• Bandai Namco Holdings Inc. (Japan)

Report Coverage-

The report provides an extensive overview of key drivers and challenges impacting market augmentation over the forecast timeframe. It studies the market thoroughly by fragmenting it into segments and regions. Growth rate and market share estimates of each segment and region are documented as well. Moreover, the report encompasses company profiles section that briefs readers about strategic moves made by leading players and enables them to make informed decisions.

Drivers & Restraints-

Increasing Integration of Advanced Technologies will Stimulate Industry Expansion

The growing integration of 3D, sound effects, high-definition graphics, Augmented Reality (AR), and Virtual Reality (VR) in games increases their appeal. Video games nowadays are very realistic due to their high-quality visual effects, sound effects, and detailing. A shift toward user centricity and personalization is further contributing to the global video games market growth.

On the other hand, rising concerns regarding growing aggression among teenagers due to the promotion of violence in games will act as a challenge for businesses operating in this domain.

Factors Affecting the Growth of the Video Games Market:

• Technological Advancements: Advancements in technology have significantly impacted the video games market. The introduction of high-performance gaming consoles, virtual reality (VR) devices, and powerful gaming PCs has enhanced the gaming experience and attracted a larger audience.
• Increased Access to Internet and Mobile Devices: The widespread availability of high-speed internet and the proliferation of smartphones and tablets have made gaming more accessible than ever before. Mobile gaming has particularly gained popularity, allowing people to play games on the go.
• Rising Disposable Income: As disposable incomes continue to rise globally, consumers have more spending power to invest in leisure activities like gaming. The affordability of gaming consoles, PCs, and games themselves has increased, making them accessible to a broader range of consumers.
• Growing Esports Industry: Esports, or competitive video gaming, has experienced tremendous growth in recent years. The rise of professional gaming tournaments and leagues has attracted a massive audience, driving the demand for video games and related merchandise.
• Expanding Demographic Reach: Video games are no longer limited to a specific age group or gender. The industry has successfully expanded its reach to include a diverse demographic, including children, teenagers, adults, and even older adults. This expansion of the target audience has led to increased market growth.
• Digital Distribution and Online Gaming: The availability of digital distribution platforms such as Steam, PlayStation Network, and Xbox Live has revolutionized the gaming industry. Players can now easily purchase and download games directly to their devices, eliminating the need for physical copies. Online multiplayer gaming has also become increasingly popular, creating social communities and driving engagement.
• Cross-Platform Gaming: The ability to play games across multiple platforms, such as consoles, PCs, and mobile devices, has further contributed to the growth of the video games market. Cross-platform compatibility allows players to connect and compete with friends, regardless of the devices they use.
• Gaming as a Social Activity: Gaming has evolved from being a solitary activity to a social experience. Online multiplayer games, streaming platforms like Twitch, and social media integration within games have fostered a sense of community among players. This social aspect has attracted more individuals to engage in gaming.
• Constant Game Innovation and Diversification: Game developers continuously introduce new and innovative titles, genres, and gameplay mechanics to keep the market dynamic. The introduction of virtual reality, augmented reality, and other immersive technologies has opened up new possibilities and attracted consumer interest.

These factors collectively contribute to the growth of the video games market, which is expected to continue expanding as technology advances and consumer preferences evolve.

Segments-

Increasing Penetration of Smartphones will Drive Market Growth

Based on device, the global market is split into smartphones, PC/laptop, and consoles. Among these, the smartphones segment held the largest video games market share. Increasing adoption of smartphones and easy access to 5G networks resulted in a rise in the number of gamers. Technological advancements in smartphones and availability of high speed internet have boosted mobile gaming, which will also aid market proliferation.

Technological Advancements and Tech Savvy Populace will Aid Market Proliferation

According to age group, the market is divided into generation X, generation Y, and generation Z. Generation Z is tech savvy as they grew up in an era of technological advancements, availability of high speed internet, and growing smart phone penetration.

Launch of Gaming Smartphones Will Propel the Market

As per platform type, the market is arrayed into online and offline. Among these, the online segment captured the largest share due to launch of new smartphones with advanced features, increasing digitization, and rapid internet penetration. The segment consists of various types of games such as first-Person Shooter Games (FPS), Multiplayer Online Battle Arena Games (MOBA), Real-Time Strategy Games (RTS), Battle Royale games, and others.

Geographically, the market is fragmented into North America, South America, Europe, Asia Pacific, and the Middle East & Africa.

Regional Insights-

Asia Pacific to Dominate Stoked by Presence of Leading Players

Asia Pacific is a leading contributor to market growth owing to the presence of leading companies in the region and rising internet and smartphone penetration. The growing usage of smartphones urges developers to focus on developing multiplayer video games such as PUBG and COD to meet the demand of expanding consumer base, which, in turn, propels market expansion.

North America is projected to grow rapidly owing to expanding gaming community, easy access to internet, and availability of devices with advanced technology.

Competitive Landscape-

Product Launches to Promote Market Augmentation

Leading companies often make strategic decisions such as partnerships, mergers & acquisitions, collaborations, and investments in research & developments to maximize profits. One such decision is to launch new products with advanced features to meet growing consumer requirements.

Key Industry Development-

• July 2022: Asus launched the new ROG Phone 6 Pro and ROG Phone 6 and expanded its gaming smartphone line. The phones have IPX4 rating, latest Snapdragon 8+ Gen 1 system-on-chip, 512 GB storage, and up to 18GB RAM.

Browse Detailed Summary of Research Report:

https://www.fortunebusinessinsights.com/video-game-market-102548