III. Industry Analysis
The video game market has taken off in recent years. Though people have enjoyed video games for decades, the most noticeable increase in gaming interest was seen during the pandemic. Since everyone was stuck at home, they turned to home-based hobbies to spend their time. One of the most popular options was video games.
Now that the pandemic is over, people are looking for fun ways to gather with people after years of being stuck indoors. Gaming lounges offer this great opportunity as people can continue to enjoy video games but play with others in a comfortable lounge setting.
Gaming lounges and centers have become increasingly popular since the pandemic ended. We expect this trend to continue as the gaming market continues to expand. The gaming market is expected to grow at a compound annual growth rate of 8.94% over the next five years. This substantial growth is expected to positively affect related industries, such as the gaming lounge industry. With such substantial growth in the industry, we are confident that [Company Name] will succeed in the local market.
