Hyderabad, June 30, 2023 (GLOBE NEWSWIRE) -- According to a new market research report titled "Gaming Market Report (2023-2028)," the market is estimated at USD 245.10 billion in 2023. It is expected to register a CAGR of 8.94% during the forecast period.
Video gaming trends are experiencing a massive surge in terms of players and revenue. With continuous technological advancements, game developers are enhancing the experience of gamers. The rise of mobile gaming, the popularity of online multiplayer games, and the increasing use of virtual and augmented reality technologies are augmenting the gaming market.
Report Summary:
| Report Attribute | Details |
| Market Size (2023) | USD 245.10 billion |
| Market Size (2028) | USD 376.08 billion |
| CAGR (2023-2028) | 8.94% |
| Study Period | 2018-2028 |
| Fastest Growing Market | Asia-Pacific |
| Largest Market | Asia-Pacific |
| Forecast Units | Value (USD billion) |
| Report Scope | Market Dynamics, Revenue Forecast and Segmentation, Competitive Landscape and Recent Developments, Market Growth, Future Opportunities, and Trends |
| Key Market Drivers | Rising internet connectivity and increasing adoption of smartphones. |
| The advent of high bandwidth connectivity like 5G. | |
| Advancements in cloud technology. |
Who are the Top Companies in the Global Gaming Market?
The gaming market is buzzing, with prominent players competing for market share. They are building new technologies and platforms while also enhancing the current technologies to provide the best experience to gamers.
The most significant players in the global gaming market to look out for in 2023 are,
- Sony Corporation
- Microsoft Corporation
- Apple Inc.
- Google LLC (Alphabet Inc.)
- Bandai Namco Entertainment Inc.
- Take-Two Interactive Software Inc.
- Nexon Company
- Nintendo Co. Ltd
- Activision Blizzard Inc.
- Electronic Arts Inc.
- Ubisoft Entertainment SA
- Square Enix Holdings Co. Ltd
- ZeptoLab OOO
- Tencent Holdings Ltd
- Sega Games Co. Ltd
- Capcom Co. Ltd
- NetEase Inc.
- Interactive Entertainment
- Beijing Kunlun Technology Co. Ltd
Other Reports That Might Be of Your Interest:
- Cloud Gaming Market Report - The global cloud gaming market size is estimated at USD 1.68 billion in 2023. It is expected to reach USD 6.79 billion by 2028, with a CAGR of 32.14% during 2023-2028.
- Global Subscription-based Gaming Market Report - The global subscription-based gaming market size is estimated at USD 9.94 billion in 2023. It is expected to reach USD 15.90 billion by 2028, with a CAGR of 9.84% during 2023-2028.
Key Highlights from the Global Gaming Market Report:
The Growing Popularity of Mobile Gaming
- Mobile gaming continues to grow rapidly. In 2022, there were 2.7 billion mobile players worldwide, and the number of mobile game downloads reached a staggering 90 billion.
- RPG and hyper casual are leading genres. RPG games accounted for 31% of in-app purchase spending, while hyper casual games were the most downloaded genre, contributing to 29% of all mobile game downloads.
- Mobile gaming appeals to a diverse audience. Approximately 21% of Android apps and 25% of iOS apps downloaded are mobile games.
Asia-Pacific – The World’s Gaming Hotspot
- 52% of gamers worldwide are from Asia-Pacific, with China and Japan leading in front. China spends the most on mobile gaming, while Japan has the highest per capita spending.
- Restrictions on game time and license approval processes in China are being eased. The growing gaming population is expected to boost the gaming industry further in the region in the coming years.
What are the Latest Developments in the Global Gaming Market?
- In February 2023, Vi entered into e-sports in partnership with Gamerji.
- In September 2022, Fnatic and ASOS signed a three-year deal to bridge the worlds of fashion with gaming.
Mordor Intelligence has Segmented the Global Gaming Market Based on the Type of Game and Geography:
- By Gaming Type (Market Size and Forecast based on Value (USD billion), 2018-2028)
- Mobile Games
- Console Games
- Downloaded/Box PC Games
- Browser PC Games
- By Geography (Market Size and Forecast based on Value (USD billion), 2018-2028)
- North America
- United States
- Canada
- Europe
- Germany
- United Kingdom
- France
- Russia
- Spain
- Italy
- Rest of Europe
- Asia-Pacific
- China
- Japan
- South Korea
- Rest of Asia-Pacific
- Latin America
- Brazil
- Argentina
- Mexico
- Rest of Latin America
- Middle East & Africa
- United Arab Emirates
- Saudi Arabia
- Iran
- Egypt
- Rest of Middle East & Africa
- North America
In a nutshell, the Mordor Intelligence market research report is a must-read for start-ups, industry players, investors, researchers, consultants, business strategists, and all those who are looking to understand this industry. Get a glance at the Gaming Market Report (2023-2028).
Mordor Intelligence constantly tracks industry trends. Some relevant market reports from the analysts that might be of interest to you:
- Gaming Chair Market Report - The gaming chair market size is estimated at USD 1.34 billion in 2023. It is expected to reach USD 1.98 billion by 2028, with a CAGR of 8.15% during 2023-2028.
- Gaming Accessories Market Report - The gaming accessories market size is expected to grow from USD 10.72 billion in 2023 to USD 17.91 billion by 2028, at a CAGR of 10.80% during 2023-2028.
- Mobile Gaming Market Report - The mobile gaming market size is expected to grow from USD 141.71 billion in 2023 to USD 300.47 billion by 2028, at a CAGR of 16.22% during 2023-2028.
About Mordor Intelligence:
Mordor Intelligence is a market intelligence and advisory firm. At Mordor Intelligence, we believe in predicting butterfly effects that have the potential to change or significantly impact market dynamics.
Our market research reports are comprehensive and provide exclusive data, facts and figures, trends, and the competitive landscape of the industry.
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