The global video game market is estimated to increase from US$ 230.86 billion in 2023 to US$ 563.44 billion in 2032 at CAGR of from 2024 to 2032, which is 10.42%. This has contributed to the massive growth which is hinged on higher adoption of smart phones, better gaming technologies, and the increase in the popularity tradition of esports and gaming.
Video games have become a passion for millions of people all over the world, and their popularity grows yearly - mainly because of the technological progress. The advances in technology specifically the smartphone have made mass gaming possible considering the aspect of place and time. The genre of the online mass gaming and esports has been produced productive and effective societal networks of players over the globe. Also, availability of the game streaming services and social media have helped in promoting gaming content and more players come into play. Therefore, video games have become a multibillion-dollar market as well as culturally, impacting entertainment, social and learning paradigms globally.
In February 2023, Microsoft and Nvidia have launched a 10-year agreement aimed at bringing Xbox PC titles to the NVIDIA GeForce NOW online gaming service. GeForce NOW lets gamers stream Xbox PC games on PCs, Chromebooks, macOS, smartphones, and more. It has over 25 million members across more than 100 countries. Additionally, after Microsoft acquires Activision, the collaboration will allow Activision Blizzard PC games to be streamed exclusively on GeForce NOW.
In October 2022, Marvel and Electronic Arts Inc. forged a long-term partnership to create at least three brand-new action-adventure video games for PC and consoles. These games will all have unique storylines that are situated in the Marvel universe. The first game is an action-adventure, single-player, third-person game focused around Iron Man that is presently being developed by Motive Studios.
2. Offline
2. Generation Y
3. Generation Z
2. Computer
3. Consoles
2. Key Persons
3. Recent Development & Strategies
4. Product Portfolio
5. Financial Insight
2. Apple Inc.
3. Disney
4. Electronic Arts Inc.
5. Lucid Games
6. Microsoft
7. Nintendo
8. Rovio Entertainment Corp.
9. Sony Interactive Entertainment Inc.
10. Tencent Holdings Ltd.
2. What is the Video Game industry growth rate?
3. Who are the key players in Video Game industry?
4. What are the factors driving the Video Game industry?
5. Which Region held the largest market share in the Video Game industry?
6. What segments are covered in the Video Game Market report?
Video Game Overview
Video games are a form of digital entertainment, which normally included both visual and audio installed. They guess they require skill, planning and solving of problems. They are common on games consoles, and also computers and even the smaller conveniently portable handy devices. It covers all the variety of the-genres, which attracts different audiences, - action and adventurous games, roleplaying games (RPGs), and graphics.Video games have become a passion for millions of people all over the world, and their popularity grows yearly - mainly because of the technological progress. The advances in technology specifically the smartphone have made mass gaming possible considering the aspect of place and time. The genre of the online mass gaming and esports has been produced productive and effective societal networks of players over the globe. Also, availability of the game streaming services and social media have helped in promoting gaming content and more players come into play. Therefore, video games have become a multibillion-dollar market as well as culturally, impacting entertainment, social and learning paradigms globally.
Growth Drivers for the Video Game Market
Technological Advancements
Technological advancements are a key factor in the growth of the video game market. Hardware innovations such as more powerful gaming consoles and high-performance PCs Improve graphics, speed, and overall user experience. Additionally, software development Including game engines and artificial intelligence. This helps make the game more complex and immersive. The rise of virtual reality (VR) and augmented reality (AR) games is changing the way players engage with games. Create a more interactive experience These technological advancements attract new gamers and maintain existing ones to provide a better gaming experience. August 2024 Black Myth : Wukong is a popular video game starring Chinese legend Sun Wukong and novel. The classic Journey to the West reached 1.4 million players shortly after release. The same goes for Steam's list of most played games.Increasing Mobile Gaming Popularity
The rise of mobile games has led to a huge expansion of the video game market. As smartphones become more widespread So many people can access the game anytime, anywhere. The convenience of mobile gaming appeals to casual gamers and younger audiences alike. Get users involved Mobile platforms often offer free game models with in-app purchases to make them more accessible and monetizable. Social media integration and multiplayer functionality promote competition and collaboration between players. It increases the adoption of mobile games and contributes to the market growth. By January 2024, global video game users are expected to reach approximately 3.32 billion users, reflecting the industry's enormous popularity and expected growth.Growth of Esports and Streaming Platforms
The rise of eSports and streaming platforms has transformed gaming into a spectator sport. This has led to significant market growth. Competitive games attract and support a large audience. Make video games more visible and legal Streaming platforms such as Twitch and YouTube Gaming allow players to share games and interact with the community. This creating a gaming culture high exposure attracts new players and generates revenue through advertising. Subscriptions and Marketing growing acceptance of eSports as a potential business model is driving more interest and investment in the video game market.Europe Video Game Industry
The European video game industry is experiencing significant growth driven by increasing consumer demand and technological advancements, key markets such as the UK, Germany and France are leading the way in game development and distribution which plays an important role in the expansion of this sector. The rise of mobile, esports and online gaming is sparking new interest and engagement among diverse audiences. European manufacturers are also focusing on innovative food and experiences, indulge this makes the industry a key player in the global arena.Germany Video Game Industry
The German video game industry is a dynamic industry that is recognized as one of the largest in Europe. This industry has a wide variety of games including action games Simulation game and role-playing games that attract a large audience. Home to leading game developers and publishers such as Ubisoft Blue Byte and Crytek, Germany is a key supporter of global game launches. The country hosts major gaming events such as Gamescom, which attract both industry experts and gamers. Additionally, the growing popularity of mobile games and esports drives innovation expand the player base and strengthen Germany's position as a key player in the global game. In August 2024, Gamescom released some amazing new news about the game. ""Borderlands"" ""Call of Duty"" and the following descriptions.Saudi Arabia Video Game Industry
Saudi Arabia's video game industry is growing rapidly. It reflects Saudi Arabia's increasing focus on entertainment and digital innovation. Under Vision 2030, local manufacturers are gaining recognition in the global market thanks to government policies that promote diversity in gaming. The growth of esports has only increased this growth. This is one of the most important issues and competitions that attract players and viewers. A young and tech-savvy population is also driving demand for mobile and online games. Meanwhile, Saudi Arabia continues to invest in game development and infrastructure. This industry is therefore ready to expand rapidly. By positioning the country as a new player in the global gaming industry. In November 2023, Manga Productions, part of the Mohammed bin Salman Misk Foundation, launched 'XP' in Riyadh in an organized manner. The event that launched the new video game community aims to connect with players across the country through a special gaming experience.Video Game Company Analysis
The major participants in the Video Game market includes Activision Blizzard, Apple Inc., Disney, Electronic Arts Inc., Lucid Games, Microsoft, Nintendo, Rovio Entertainment Corp., Sony Interactive Entertainment Inc., Tencent Holdings Ltd.Video Game Company News
In February 2023, the first round of funding for Newgen Gaming, which operates in the esports market under the Penta Esports brand, was $1 million provided by Core Games. Penta Esports provides esports athletes with opportunities across several titles and platforms through its involvement in a variety of verticals, such as leagues, content, and competitions.In February 2023, Microsoft and Nvidia have launched a 10-year agreement aimed at bringing Xbox PC titles to the NVIDIA GeForce NOW online gaming service. GeForce NOW lets gamers stream Xbox PC games on PCs, Chromebooks, macOS, smartphones, and more. It has over 25 million members across more than 100 countries. Additionally, after Microsoft acquires Activision, the collaboration will allow Activision Blizzard PC games to be streamed exclusively on GeForce NOW.
In October 2022, Marvel and Electronic Arts Inc. forged a long-term partnership to create at least three brand-new action-adventure video games for PC and consoles. These games will all have unique storylines that are situated in the Marvel universe. The first game is an action-adventure, single-player, third-person game focused around Iron Man that is presently being developed by Motive Studios.
Platform Type - Industry is divided into 2 viewpoints:
1. Online2. Offline
Age Group - Industry is divided into 3 viewpoints:
1. Generation X2. Generation Y
3. Generation Z
Device - Industry is divided into 3 viewpoints:
1. Smartphones2. Computer
3. Consoles
Countries: Industry is divided into 25 Countries
North America
- United States
- Canada
Europe
- France
- Germany
- Italy
- Spain
- United Kingdom
- Belgium
- Netherlands
- Turkey
Asia Pacific
- China
- Japan
- India
- Australia
- South Korea
- Thailand
- Malaysia
- Indonesia
- New Zealand
Latin America
- Brazil
- Mexico
- Argentina
Middle East & Africa
- South Africa
- Saudi Arabia
- UAE
All companies have been covered with 5 Viewpoints
1. Overview2. Key Persons
3. Recent Development & Strategies
4. Product Portfolio
5. Financial Insight
Company Analysis
1. Activision Blizzard2. Apple Inc.
3. Disney
4. Electronic Arts Inc.
5. Lucid Games
6. Microsoft
7. Nintendo
8. Rovio Entertainment Corp.
9. Sony Interactive Entertainment Inc.
10. Tencent Holdings Ltd.
Key Questions Answered in Report:
1. How big is the Video Game industry?2. What is the Video Game industry growth rate?
3. Who are the key players in Video Game industry?
4. What are the factors driving the Video Game industry?
5. Which Region held the largest market share in the Video Game industry?
6. What segments are covered in the Video Game Market report?
Table of Contents
1. Introduction2. Research & Methodology3. Executive Summary5. Global Video Game Market
4. Market Dynamics
6. Market Share Analysis
7. Platform Type
8. Age Group
9. Device
10. Country
11. Porter’s Five Analysis
12. SWOT Analysis
13. Company Analysis
Companies Mentioned
- Activision Blizzard
- Apple Inc.
- Disney
- Electronic Arts Inc.
- Lucid Games
- Microsoft
- Nintendo
- Rovio Entertainment Corp.
- Sony Interactive Entertainment Inc.
- Tencent Holdings Ltd.
Methodology
In this report, for analyzing the future trends for the studied market during the forecast period, the publisher has incorporated rigorous statistical and econometric methods, further scrutinized by secondary, primary sources and by in-house experts, supported through their extensive data intelligence repository. The market is studied holistically from both demand and supply-side perspectives. This is carried out to analyze both end-user and producer behavior patterns, in the review period, which affects price, demand and consumption trends. As the study demands to analyze the long-term nature of the market, the identification of factors influencing the market is based on the fundamentality of the study market.
Through secondary and primary researches, which largely include interviews with industry participants, reliable statistics, and regional intelligence, are identified and are transformed to quantitative data through data extraction, and further applied for inferential purposes. The publisher's in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. These analytical tools and models sanitize the data & statistics and enhance the accuracy of their recommendations and advice.
Primary Research
The primary purpose of this phase is to extract qualitative information regarding the market from the key industry leaders. The primary research efforts include reaching out to participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions. The publisher also established professional corporate relations with various companies that allow us greater flexibility for reaching out to industry participants and commentators for interviews and discussions, fulfilling the following functions:
- Validates and improves the data quality and strengthens research proceeds
- Further develop the analyst team’s market understanding and expertise
- Supplies authentic information about market size, share, growth, and forecast
The researcher's primary research interview and discussion panels are typically composed of the most experienced industry members. These participants include, however, are not limited to:
- Chief executives and VPs of leading corporations specific to the industry
- Product and sales managers or country heads; channel partners and top level distributors; banking, investment, and valuation experts
- Key opinion leaders (KOLs)
Secondary Research
The publisher refers to a broad array of industry sources for their secondary research, which typically includes, however, is not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Patent and regulatory databases for understanding of technical & legal developments
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic new articles, webcasts, and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecasts
LOADING...
Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 200 |
| Published | October 2024 |
| Forecast Period | 2023 - 2032 |
| Estimated Market Value ( USD | $ 230.86 Billion |
| Forecasted Market Value ( USD | $ 563.44 Billion |
| Compound Annual Growth Rate | 10.4% |
| Regions Covered | Global |
| No. of Companies Mentioned | 10 |
