Video Game Market Global Forecast Report by Platform Type (Online, Offline), Age Group (Generation X, Generation Y, Generation Z), Device (Smartphones, Computer, Consoles), Countries and Company Analysis 2024-2032
Buy NowVideo Game Market Size
The Video Game market is expected to reach US$ 230.86 Billion in 2023 to US$ 563.44 Billion by 2032, with a CAGR of 10.42 % from 2024 to 2032. The development of high bandwidth network access, the popularity of online gaming, and the constant need for 3D games are all factors contributing to the market's growth. Furthermore, the increased use of cellphones has increased accessibility, portability, and social aspects of video games. The introduction of smartphones that are more powerful and technologically advanced has further spurred the expansion of the sector.
Video Game Overview
Interactive digital entertainment in the form of video games can be enjoyed by users on consoles, PCs, and smartphones. To make them more realistic and enjoyable for each viewer, they incorporate distinct images, computer-generated (CG) sound, video effects, and narration. The market has grown even more as a result of the rapid technological advancements in this field, which include visuals, three-dimensional environments, and other features that boost game interaction.
Video game platforms can be found both online and offline. As a result, video games can be played both offline—without an internet connection—and online. The popularity of online games has increased as a result of the development of cloud-based gaming technology, in which players obtain necessary data and resource packs online while playing. While they can be played on any platform, offline games are often created for consoles and PCs. With portable devices like CDs, pen drives, and others, users can download and install resource packs and other necessary data without typically requiring an Internet connection.
Factors boosting the business is Generation Z's explosive thirst for video games. For example, RedMagic, a company well-known for making smartphones with cooling fans, presented "7," the global version of their 2022 flagship gaming smartphone, in February 2022. The flagship model has a Snapdragon 8 Gen 1 SoC, an AMOLED display, a cooling system, and a refresh rate of 165Hz.
| Report Features | Details |
|
Base Year |
2023 |
|
Forecast Years |
2024 - 2032 |
|
Historical Years |
2019 - 2023 |
|
Market Size in 2023 |
US$ 230.86 Billion |
|
Market Forecast in 2032 |
US$ 563.44 Billion |
|
Market Growth Rate (2024-2032) |
10.42% |
Growth Drivers for the Video Game Market
An increasing number of competitive multiplayer games are driving the market's expansion.
The industry has seen an exponential increase in people's interest in competitive multiplayer mobile games. Games like Call of Duty (COD) and Player Unknown's Battlegrounds (PUBG) are immensely popular, and esports has become a global phenomenon. Because these games are designed in a multiplayer style, players may communicate with each other and increase player engagement. In addition, players get a sense of accomplishment from the multiplayer version since they are competing against other users in real time. Character customization options and in-game purchases add to the overall increase in user engagement.
The introduction of Battle Royale games to smartphones has greatly expanded the market. One major reason for the growing number of gamers is the quick increase in smartphone penetration. The majority of smartphones on the market are equipped with CPUs capable of handling games with more complex graphics and visual effects. Furthermore, the increasing global adoption of high-speed internet is a major factor in the growing popularity of online multiplayer games. To meet the increasing demand for multiplayer games, Activision Blizzard Inc., for example, released Overwatch 2, the updated edition of the much-loved game, in October 2022 with both free-to-play and paid alternatives.
Growing usage of cloud
Throughout the projected time, the growing popularity of cloud gaming is anticipated to support the expansion of the video game industry, and this pattern is probably going to persist in the future. In addition to offering gamers cheap and entertaining entertainment, cloud gaming has many benefits for businesses in a variety of sectors.
As cloud gaming develops further, service providers are bringing new ideas to the table regarding use cases and monetization to draw in more users and highlight the possibilities of cloud computing. Cloud gaming is being adopted by even well-known game companies like Xbox and PlayStation to enhance their traditional hardware experiences.
In order to stay competitive, telecom carriers need to quickly acknowledge the advantages of cloud gaming and capitalize on its potential. Using 5G connectivity in conjunction with a cloud gaming service is a great way to draw players and satisfy the tastes of the younger generation. Furthermore, cloud gaming provides a perfect stage on which to demonstrate to end consumers the advantages of 5G.
Asia Pacific Video Game Industry
The substantial populations of China and India provide a large pool of players in the region. The public now has access to reasonably priced, cutting-edge gaming phones thanks to the creativity and innovations driven by the Chinese and Japanese mobile corporations. The market has seen favorable development for the region due to the large number of game creators and key businesses with their headquarters located in China. There is now a sizable market for video game creation thanks to the rise of the professional gaming scene. The expansion and development of the regional market is aided by the increasing number of professional players and streamers.
Chinese authorities granted licenses to the highest number of new video games of the year—89—in June, setting a record for the total number of licenses granted for the first half of the year—521. According to a list posted on the website of the National Press and Publication Administration (NPPA), the organization in charge of licensing video games, NetEase, the second-largest gaming company in China, has received permission to use its interactive open-world action-adventure game Where Winds Meet on mobile devices and personal computers.
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:
- Online
- Offline
Age Group- Industry is divided into 3 viewpoints:
- Generation X
- Generation Y
- Generation Z
Device- Industry is divided into 3 viewpoints:
- Smartphones
- Computer
- 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
- Overview
- Key Persons
- Recent Development & Strategies
- Product Portfolio
- Financial Insight
Company Analysis
- Activision Blizzard
- Apple Inc.
- Disney
- Electronic Arts Inc.
- Lucid Games
- Microsoft
- Nintendo
- Rovio Entertainment Corp.
- Sony Interactive Entertainment Inc.
- Tencent Holdings Ltd.
Report Details:
| Report Features | Details |
| Base Year |
2023 |
| Historical Period |
2019 - 2023 |
| Forecast Period |
2024 - 2032 |
| Market |
US$ Billion |
| Segment Covered |
Disease wise and Countries |
| Countries Covered |
North America
Europe
Asia Pacific
Latin America
Middle East & Africa
|
| Companies Covered |
|
| Customization Scope |
20% Free Customization |
| Post-Sale Analyst Support |
1 Year (52 Weeks) |
| Delivery Format |
PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on request) |
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1. Introduction
2. Research & Methodology
3. Executive Summary
4. Market Dynamics
4.1 Growth Drivers
4.2 Challenges
5. Global Video Game Market
6. Market Share Analysis
6.1 Platform Type
6.2 Age Group
6.3 Device
6.4 Country
7. Platform Type
7.1 Online
7.2 Offline
8. Age Group
8.1 Generation X
8.2 Generation Y
8.3 Generation Z
9. Device
9.1 Smartphones
9.2 Computer
9.3 Consoles
10. Country
10.1 North America
10.1.1 United States
10.1.2 Canada
10.2 Europe
10.2.1 France
10.2.2 Germany
10.2.3 Italy
10.2.4 Spain
10.2.5 United Kingdom
10.2.6 Belgium
10.2.7 Netherlands
10.2.8 Turkey
10.3 Asia Pacific
10.3.1 China
10.3.2 Japan
10.3.3 India
10.3.4 Australia
10.3.5 South Korea
10.3.6 Thailand
10.3.7 Malaysia
10.3.8 Indonesia
10.3.9 New Zealand
10.4 Latin America
10.4.1 Brazil
10.4.2 Mexico
10.4.3 Argentina
10.5 Middle East & Africa
10.5.1 South Africa
10.5.2 Saudi Arabia
10.5.3 UAE
11. Porter’s Five Analysis
11.1 Bargaining Power of Buyers
11.2 Bargaining Power of Suppliers
11.3 Degree of Rivalry
11.4 Threat of New Entrants
11.5 Threat of Substitutes
12. SWOT Analysis
12.1 Strength
12.2 Weakness
12.3 Opportunity
12.4 Threat
13. Company Analysis
13.1 Activision Blizzard
13.1.1 Overview
13.1.2 Key Persons
13.1.3 Recent Development & Strategies
13.1.4 Product Portfolio
13.1.5 Financial Insight
13.2 Apple Inc.
13.2.1 Overview
13.2.2 Key Persons
13.2.3 Recent Development & Strategies
13.2.4 Product Portfolio
13.2.5 Financial Insight
13.3 Disney
13.3.1 Overview
13.3.2 Key Persons
13.3.3 Recent Development & Strategies
13.3.4 Product Portfolio
13.3.5 Financial Insight
13.4 Electronic Arts Inc.
13.4.1 Overview
13.4.2 Key Persons
13.4.3 Recent Development & Strategies
13.4.4 Product Portfolio
13.4.5 Financial Insight
13.5 Lucid Games
13.5.1 Overview
13.5.2 Key Persons
13.5.3 Recent Development & Strategies
13.5.4 Product Portfolio
13.5.5 Financial Insight
13.6 Microsoft
13.6.1 Overview
13.6.2 Key Persons
13.6.3 Recent Development & Strategies
13.6.4 Product Portfolio
13.6.5 Financial Insight
13.7 Nintendo
13.7.1 Overview
13.7.2 Key Persons
13.7.3 Recent Development & Strategies
13.7.4 Product Portfolio
13.7.5 Financial Insight
13.8 Rovio Entertainment Corp.
13.8.1 Overview
13.8.2 Key Persons
13.8.3 Recent Development & Strategies
13.8.4 Product Portfolio
13.8.5 Financial Insight
13.9 Sony Interactive Entertainment Inc.
13.9.1 Overview
13.9.2 Key Persons
13.9.3 Recent Development & Strategies
13.9.4 Product Portfolio
13.9.5 Financial Insight
13.10 Tencent Holdings Ltd.
13.10.1 Overview
13.10.2 Key Persons
13.10.3 Recent Development & Strategies
13.10.4 Product Portfolio
13.10.4 Financial Insight
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