Video Games And Its Impact On The World

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In this era, video-games play an important role in leisure and entertaining time in every society. PlayStation arrived in 1990s, which was the start of modern videogame age and with the entrance and the development of new technology such as high speed internet, this entertaining segment becomes more and more accessible and favourable among customers. Today gaming affects billions of people around the globe and it will continue to grow. The UK games industry was worth close to £3.5bn in consumer spend in 2013, up 17% from 2012. The forecasted revenue of the industry and the daily time spent playing video games, make this industry a shining star. The forecasted revenue for video game console (1 out of 4 segments in videogame industry) will be 55.05 billion US dollars by 2018 (compared to 37.4 billion USD in 2012) (Anon., 2014)and the daily time spent playing video games per capita in the United States will be 28.3 minutes by 2015 (Anon., 2014). These numbers make this industry more attractive than its other entertaining competitors. In the Video-games Market the final product, “the gaming console” is directly associated with brands, as their content and quality generate a brand image. There are three major brands playing in this ground and no one dares to enter into the market because of the giant size of these brands, these titans are Microsoft (Xbox, ranked 198th in brand finance’s global 500 with a brand value of 6.47 billion USD) (Anon., 2014), Sony (PlayStation, ranked
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