Global Gaming market demand 2024, Forecast To 2033
4 Mar, 2024
The gaming market size has grown rapidly in recent years. It will grow from $256.41 billion in 2023 to$286.61 billion in 2024 at a compound annual growth rate (CAGR) of 11.8%. The growth in the historic period can be attributed to the expansion of gaming platforms, rise of esports, gaming communities, mobile gaming boom, gaming conventions and events. The gaming market size is expected to see rapid growth in the next few years. It will grow to $453.74 billion in 2028 at a compound annual growth rate (CAGR) of 12.2%. The growth in the forecast period can be attributed to innovations in game design, inclusion of casual gamers, sustainability and eco-friendly initiatives, social impact and diversity in gaming, government support and recognition. Major trends in the forecast period include the rise of cloud gaming, subscription gaming services, augmented reality (AR) and virtual reality (VR) experiences, user-generated content and game modding, mobile gaming dominance, next-gen consoles and hardware innovations.
Global Gaming Market Key Driver
The increase in proliferation of mobile phones is expected to propel the growth of the gaming market going forward. A mobile phone is a portable electronic gadget with a cellular network connection. Mobile phones help the gaming market to grow by providing boosters for enhanced performance, better display, and top-end specifications. For instance, in October 2021, according to The Economic Times, an Indian business newspaper, with a monthly average of 12 gigabytes (GB) per user, the rate of mobile data consumption in India was the highest in the world. Additionally, 25 million new smartphone users are being added to the country's population each quarter. Further in March 2023, according to a report published by Cybercrew, a UK-based developing and providing cybersecurity solutions for businesses of all sizes, the percentage of UK households using smartphones reached 91.43% in 2021. This percentage is projected to increase to 93.8% in 2026.. Therefore, the increasing proliferation of mobile phones is driving the growth of the gaming market. The gaming market experienced substantial growth in 2023, reaching a value of $XX billion, and this growth trajectory is expected to continue through 2024 and into 2028.
Get A Free Sample Of The Global Gaming Market ReportGlobal Gaming Market Segments
The global gaming market covered in this report is segmented –
1) By Game Type: Action, Shooter, Role-Playing, Sports, Other Game Types
2) By Device: Console, Mobile, Computer
3) By Purchase Type: Box/CD Game Purchase, In-App Purchase Based, Shareware, Freeware, Other Purchase Types
4) By Platform: Online, Offline
By Geography: The regions covered in the gaming market report are Asia-Pacific, Western Europe, Eastern Europe,North America, South America, Middle East, and Africa.
Asia-Pacific was the largest region in the gaming market in 2023. The regions covered in the gaming market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Major Gaming Industry Players
Microsoft Corporation, Nintendo Co. Ltd., Rovio Entertainment Corporation, Nvidia Corporation, Electronic Arts Inc., Sony Corporation, Apple Inc., Google LLC, Bandai Namco Entertainment Inc., Take-Two Interactive Software Inc., Nexon Company, Activision Blizzard Inc., Ubisoft Entertainment SA, Square Enix Holdings Co. Ltd., ZeptoLab OOO, Tencent Holdings Ltd., Sega Games Co. Ltd., Capcom Co. Ltd., NetEase Inc., Interactive Entertainment Beijing Kunlun Technology Co. Ltd., Bandai Namco Holdings Inc., Konami Holdings Corporation, Zynga Inc., GungHo Online Entertainment Inc., NCSoft Corporation, Kakao Games Corp., Smilegate Holdings Inc., Gravity Co. Ltd., Pearl Abyss Corp., Com2uS Corp., LINE Corporation, Wargaming Group Limited
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Gaming Market Overview
Gaming refers to the practice of playing games designed to educate something or assist in the resolution of a problem, as in a combat or corporate setting.
Gaming Global Market Report 2023 provides data on the global gaming market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The gaming market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.