Cango Market Analysis Paper

700 Words3 Pages

Market Analysis Angela The gaming industry has been growing rapidly. With gaming done on specific consoles, computers, tablets, and mobile, a small specialized industry has quickly turned into a multi-billion-dollar market. For this reason, a full understanding and analysis of the online game market are essential to the success of CanGo’s organization. Our consulting team has fully analyzed and researched their organization’s market. Therefore, the purpose of this analysis is to give CanGo a detailed overview of the industry that will include information regarding the target market, geographic area, and size of the audience to include gender and age; along with trends and outlook of the gaming market. Online gaming is the new trend …show more content…

The segment also has the most people gaming with 2.1 billion, the majority of whom are gaming on smartphones. The console is the second-largest segment with revenues of $33.5 billion 2017. “Estimates that the video game market will increase from $109 billion in 2017 to 200 billion in 2020 (Intelligence, 2017). This makes video games the third-fastest-growing segment of the entertainment and media market after TV distribution (up 9.3% to $250.7 billion in 2011) and Internet advertising and access spending (up 13.4% to $331.6 billion in 2011).” (Scanlon, 2007) This is an enormous jump and places CanGo in a prime time for advancement availability and success. Which means that there will be a growth of almost 9 billion is projected in the video game market …show more content…

Throughout this analysis, it was found that the market size has grown in both revenue and popularity. Demographically the market is on a global scale. Globally, “a final growth at the closing of this year is expected to be at a 9% increase in comparison to 2016” (Intelligence, 2017). This supports their organization’s mission to expand globally due to the excelling video game market. With such a large market segment there is endless potential for CanGo to rise in the gaming industry.
Consumers are spending more time than ever on games, and this is especially true for the millennial generation. The reason for this is that games now cater to a much wider variety of interests. This includes gaming intensely or casually, viewing content created by peers, or provided by the professional gaming scene, creating unique content and sharing on-demand and live streaming.
Market Strategic

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