Growth Opportunities in the Global Video Gaming Market

This study covers the global market for video gaming services. Gaming services allow users to play video games by interacting with an interface to get visual feedback. The scope of this study includes gaming solutions offered by providers, such as hardware gaming consoles and software (video games) offered in three types of platforms: consoles, PCs, and mobile devices.

This study covers both online and offline gaming experiences, both cloud gaming and streaming gaming services are part of the analysis. The global video gaming market showed high growth years prior to the COVID-19 pandemic (from 10 to 15% every year). With the global economy slowing down and the market reaching its natural limits, the analyst expects to see more modest yet steady mid-single-digit growth rates in the forecast period.

Revenue in the video gaming market is expected to bounce back from a decline in 2022 and stabilize growth to a compound annual growth rate (CAGR) of 4.5% from 2022 to 2029 in terms of revenue, driven by the recovery of disposable income and the increasing penetration of mobile devices.

The analyst expects the global video gaming market to grow from $206.6 billion in 2022 to $280.65 billion in 2029. The expansion of internet connections, the growing penetration of mobile devices, the rise of social gaming, the growth of esports, cloud gaming's spread, and extended reality (XR) development are some of the main drivers that will help the market grow.

Primary and secondary information, in conjunction with internal information databases, has been used to analyze the market and provide observations and conclusions in this study. The publisher expects that this analysis will provide video gaming companies with valuable insights to increase their footprint and penetration opportunities within the evolving video gaming market.