Gaming Industry Overview

The global gaming market size was worth 202.64 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 10.2% from 2022 to 2030. Innovation and technological proliferation in both software and hardware are key factors fueling the market growth. Easy availability and access to games on the Internet and the growing implementation of internet services throughout the globe are expected to keep growth prospects upbeat in the forthcoming years.

The rising propensity to switch from physical to online games has encouraged industry players to emphasize hardware efficiency and compatibility. The innovation of 5G technology will minimize the current online gaming issues such as gaming lag by offering an improved cloud streaming experience as the 5G latency is substantially lower than 4G.

Gather more insights about the market drivers, restrains and growth of the Gaming Market

5G devices provide support to a significant number of devices at a time that will increase the numbers of gamers and will allow developers to deliver an enhanced gaming experience in the online gaming market. Multiplayer games, Free2Play (F2P), and massively multiplayer online (MMO) have continuously grown in popularity, a trend that is projected to extend over the coming years.

An increasing trend of esports, social gaming, cloud-based gaming, and roguelike gaming has a positive impact on growth. The availability of games across devices such as consoles, smartphones, portable gaming devices, computers, and tablets and key market players focusing on launching interactive games attract young generations for entertainment purposes.

For instance, In April 2020, Epic Games, Inc. experienced the participation of 12.3 million users for the in-game Fornite concert of Travis Scott. However, obsessive addiction issues and mental health issues caused by video games coupled with issues linked to fraud while gaming transactions are projected to negatively impact the growth of the market.

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Global Gaming Market Report Segmentation

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2018 to 2030. For this study, Grand View Research has segmented the global gaming market report based on device, type, and region:

Device Outlook (Revenue, USD Billion, 2018 - 2030)

• Console
• Mobile
• Computer

Type Outlook (Revenue, USD Billion, 2018 - 2030)

• Online
• Offline

Regional Outlook (Revenue, USD Billion, 2018 - 2030)

• North America
  • US
  • Canada
• Europe
  • UK
  • Germany
• Asia Pacific
  • China
  • Japan
  • South Korea
• Latin America
  • Brazil
• Middle East Africa (MEA)

Key Companies Market Share Insights

Key players operating in the industry include Nintendo; Microsoft Corporation; NVIDIA Corporation; Rovio Entertainment Corporation; PlayJam Ltd.; Valve Corporation.; Sony Corporation; and Bluestack Systems, Inc. these companies are focusing on launching more interactive games and incorporating augmented reality and virtual reality in gaming.

For instance, Meta Platforms, Inc. has announced a list of VR games during the Meta quest gaming showcase. Games such as Ghostbusters VR, Resident Evil 4, The Walking Dead, NFL Pro Era, Moss: Book II, and many more will be available on the Quest VR platform till next year.

Gaming consoles developed by leading market players including Xbox One by Microsoft Corporation, PlayStation 5 by Sony Corporation, and Nintendo Switch by Nintendo The key players are mostly focusing on delivering product innovation and differentiation to compete in the market. Some of the prominent players in the gaming market are.

Key Gaming Companies:

• Nintendo
• Microsoft Corporation
• NVIDIA Corporation
• Rovio Entertainment Corporation
• PlayJam Ltd.
• Valve Corporation.
• Sony Group Corporation
• Bluestack Systems, Inc.

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