Gaming Market to Witness Remarkable Growth at CAGR of More than 10% During 2023-2030 | GlobalData Plc
GlobalData Plc, a leading market research firm, has released its latest analysis report on the global gaming market, highlighting the significant growth and emerging trends in the industry. With a comprehensive examination of key market drivers, challenges, and opportunities, the report provides valuable insights for industry stakeholders and investors.
The gaming market has experienced substantial growth in recent years, driven by technological advancements, evolving consumer preferences, and the rise of online gaming platforms. GlobalData’s thorough analysis delves into the core aspects shaping the gaming landscape and unveils key factors that are contributing to its remarkable growth.
| Market size in 2023 | US$ 250.45 billion |
| Market size in 2026 | US$ 470.22 billion |
| CAGR (2022-2030) | 10.10% |
| Forecast Period | 2022-2030 |
| Platform Segment | Smartphone, Console, PC, Tablet, Handheld Controllers, Head-mounted Displays |
| Type Segment | Video Games, Cloud Games |
| Gamer Type Segment | Casual Gamers, Avid Gamers, Lifestyle Gamers |
| Regional Segments | North America (U.S. and Canada), Europe (Germany, U.K., Italy, France, and Rest of Europe), Asia Pacific (China, Japan, India, Australia, South Korea, and Rest of Asia Pacific), South & Central America (Brazil, Mexico, Argentina, Colombia, Peru, and Rest of South & Central America), Middle East & Africa (Nigeria, Iran, Saudi Arabia, Morocco, and Rest of Middle East & Africa) |
| Leading Companies | Tencent Holdings Ltd, Sony Group Corp, Microsoft Corp, Nintendo Co Ltd, NetEase Inc, Sea Ltd, Activision Blizzard Inc, Bandai Namco Holdings Inc, Electronic Arts Inc, Take-Two Interactive Software Inc |
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Gaming Market Expanding Reach and Rising Revenue
According to GlobalData’s research, the gaming market has witnessed an unprecedented expansion, both in terms of reach and revenue. With the advent of innovative gaming consoles, virtual reality (VR) devices, and the increasing penetration of smartphones, the global gaming industry has experienced a significant boost. The widespread availability of high-speed internet and the growing popularity of esports have further fueled the industry’s growth trajectory. The gaming market size is estimated to be valued at $250.45 billion in 2023. An increase in the adoption of smartphones coupled with significant investments in the field of cloud gaming is likely to promote the gaming market to garner a CAGR of over 10% during the projected period.
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Gaming Market Trends
- The Proliferation of Mobile Gaming: One of the most notable trends identified by GlobalData is the proliferation of mobile gaming. With the increasing affordability of smartphones and the convenience they offer, mobile gaming has become a mainstream form of entertainment. The report highlights that the rapid adoption of mobile gaming is transforming the gaming landscape, with a significant shift from traditional gaming platforms to mobile devices.
- Online Gaming Platforms Revolutionize the Industry: GlobalData’s analysis also emphasizes the disruptive impact of online gaming platforms. The advent of cloud gaming, subscription-based models, and multiplayer online games has revolutionized the industry, providing gamers with immersive experiences, and enhancing connectivity among players worldwide. This paradigm shift has led to a surge in online gaming revenues and created new opportunities for game developers and publishers.
- Rising Demand for Virtual Reality (VR) Gaming: Virtual reality gaming has emerged as a prominent segment within the gaming market. GlobalData’s report highlights the growing demand for VR gaming experiences, as consumers seek more immersive and realistic gameplay. With advancements in VR technology, such as improved graphics, motion tracking, and haptic feedback, VR gaming is projected to witness substantial growth in the coming years.
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Gaming Market Segment Outlook
- Gaming Market – Revenue Opportunity Forecast, by Platform segments 2021-2030 (US$ million)
- Smartphone
- Console
- PC
- Tablet
- Handheld Controllers
- Head-mounted Displays
- Gaming Market – Revenue Opportunity Forecast, by Type segments 2021-2030 (US$ million)
- Video Games
- Cloud Games
- Gaming Market – Revenue Opportunity Forecast, by Gamer Type segments 2021-2030 (US$ million)
- Casual Gamer
- Avid Gamer
- Lifestyle Gamer
- Gaming Market – Revenue Opportunity Forecast by Regions, 2021-2030 (US$ million)
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- North America
- US
- Canada
- South & Central America
- Brazil
- Mexico
- Argentina
- Colombia
- Peru
- Rest of South & Central America
- Europe
- Germany
- United Kingdom
- France
- Italy
- Rest of Europe
- Middle East & Africa
- Nigeria
- Iran
- Saudi Arabia
- Morocco
- Rest of Middle East & Africa
- Asia Pacific
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Gaming Market Competitive Landscape and Market Outlook
The gaming market is highly competitive, with numerous companies vying for market share. GlobalData’s report profiles some of the major players in the industry, highlighting their strategies, product portfolios, and key developments. By understanding the competitive landscape, industry participants can gain a strategic advantage and make informed business decisions.
Looking ahead, GlobalData expects the gaming market to continue its upward trajectory, driven by technological advancements, increasing investment in gaming infrastructure, and the rising popularity of esports. The report concludes with a positive market outlook and provides recommendations for stakeholders to capitalize on emerging opportunities.
Top Gaming Market Players
- Tencent Holdings Ltd
- Sony Group Corp
- Microsoft Corp
- Nintendo Co Ltd
- NetEase Inc
- Sea Ltd
- Activision Blizzard Inc
- Bandai Namco Holdings Inc
- Electronic Arts Inc
- Take-Two Interactive Software Inc
Gain vendor-based gaming market sample PDF for effective decision making
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About GlobalData Plc
GlobalData is a leading provider of data, analytics, and insights on the world’s largest industries. In an increasingly fast-moving, complex, and uncertain world, it has never been harder for organizations and decision-makers to predict and navigate the future. GlobalData’s mission is to help our clients to decode the future and profit from faster, more informed decisions. As a leading information services company, thousands of clients rely on us for trusted, timely, and actionable intelligence. Our solutions are designed to provide a daily edge to professionals within corporations, financial institutions, professional services, and government agencies.
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Media Contacts Mark Jephcott Head of PR EMEA Email – [email protected] Tel – +44 (0) 20 7947 2960
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