Market Overview:
Gaming Market Size Was Valued at USD 226.2 Billion in 2022, and is Projected to Reach USD 434.4 Billion by 2030, Growing at a CAGR of 8.5% From 2023-2030.
The term "gaming" refers to the activity of playing video games on a computer, a mobile device, a gaming console, or through a combination of these and other mediums. Online gaming has been increasingly accessible to more people in recent years due to the rising popularity of high-speed internet connections, particularly in emerging economies. By releasing and rewriting codes for various consoles/platforms, such as PlayStation, Xbox, and Windows PC, merged into a standalone product offered to gamers through a cloud platform, game developers in emerging nations are always working to improve the gaming experience. Cloud gaming is an emerging technology across the industry that allows users to stream high-end games across hand-held devices, such as laptops, tablets, and mobiles, with fast network connectivity, eliminating the need for a dedicated gaming console/PC.
Top Key Players Covered In The Gaming Market:
- Apple Inc. (US)
- 37 Interactive Entertainment (China)
- Take-Two Interactive Software Inc. (US)
- NetEase Inc. (China)
- Sony Corporation (Japan)
- Google LLC (Alphabet Inc.) (US)
- Beijing Kunlun Technology Co. Ltd (China)
- Bandai Namco Entertainment Inc. (Japan)
- Nexon Company (Japan)
- Nintendo Co. Ltd (Japan), and Other Major Players.
Market Dynamics and Factors:
The concept of cloud gaming has become a reality thanks to recent developments in cutting-edge cloud technology. The multimedia gaming program is provided remotely in the cloud, and the scenes are then sent back to the player as a video sequence over the internet. For less powerful computing devices that are ordinarily unable to run high-quality games, this is an advantage. Industrial forerunners like OnLive and Gaikai experienced market success with sizable user numbers. In cloud gaming, all computation work including game scene rendering, game logic processing, video encoding, and video streaming is done by the crucial server, which houses all the games. Cloud gaming has gained a lot of momentum and is expected to be the game industry segment with the quickest growth in China.
The development of artificial intelligence (AI) has been identified as a key factor in enhancing the entire gaming experience. Multiplayer game formats are only one example of how stakeholders in the gaming industry have evolved their offers. Gamers have been drawn to use immersive and interactive gaming due to the requirement to have the AI decide on team building based on personalized decisions. Therefore, it is anticipated that real-time customization of gaming scenarios would become more widely used and have a significant impact on both how games are played and who plays them.
Gaming Market Report Highlight:
- By Type, the online segment is anticipated to lead the growth of the Gaming market in the forecasted timeframe. Technological trends like augmented reality (AR), virtual reality (VR), and mixed reality (MR) have inclined people toward gaming. The growing number of esports events and multiplayer gaming has transformed the online gaming segment.
- By Application, the men segment is expected to have the highest share of the Gaming market over the projected period. due to a large number of games available in the market, such as racing, sports, action, and others, designed to be more male-oriented than females. Hence, this plays a significant contribution to male dominance in the industry.
- By Device Type, the Mobile Phones segment is set to develop at the highest CAGR during the forecasted timeframe. This increasing demand for mobile games is a direct result of various technological advancements such as AR, VR, cloud gaming, and 5G. In the gaming industry, gaming hardware, such as consoles, is expected to hold significant demand in the market. This demand for console games is not only limited to hardcore gamers who spend a substantial amount of time gaming and generate a significant share of the gaming industry, globally.
- The Asia Pacific region is expected to have the highest share of the Gaming market over the projected period. China is one of the major countries in Asia-Pacific, which has a growing technological adoption. The country is home to one of the fastest internet bands and strong players like Tencent and NetEase, Tencent, and others. The country's growing exports and constant innovation practices in new games and consoles are major drivers of gaming in the country.
Key Industry Development:
- In January 2023, the biggest gaming news of 2023 was undoubtedly the closing of Microsoft's mammoth $68.7 billion acquisition of Activision Blizzard. This deal, initially announced in 2022, grants Microsoft ownership of iconic franchises like Call of Duty, Overwatch, and World of Warcraft, significantly boosting its position in the console and mobile gaming markets.
- In January 2023, Take-Two Interactive concluded its $12.7 billion acquisition of Zynga, the company behind FarmVille and Words with Friends. This deal solidifies Take-Two's position as a leader in mobile gaming and diversifies its portfolio within the casual games space.
Gaming Market Segmentation:
By Type
- Online
- Offline
By Application
- Men
- Women
By Device Type
- Mobile Phones
- Console
- Computer
- Tablets
- Others
For this report, Introspective Market Research has segmented the Gaming Market based on region:
Regional Outlook (Revenue in USD Million; Volume in Units, 2023-2030)
North America
- The U.S.
- Canada
- Mexico
Eastern Europe
- Russia
- Bulgaria
- The Czech Republic
- Hungary
- Poland
- Romania
- Rest of Eastern Europe
Western Europe
- Germany
- UK
- France
- Netherlands
- Italy
- Spain
- Rest of Western Europe
Asia Pacific
- China
- India
- Japan
- Singapore
- Australia
- New-Zealand
- Rest of APAC
Middle East & Africa
- Turkey
- Saudi Arabia
- Qatar
- UAE
- Israel
- South Africa
South America
- Brazil
- Argentina
- Rest of SA
