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Report Overview
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
Global Video Games Market Outlook
The global video games market size attained a value of USD 221.71 billion in 2023. The market is further expected to grow at a CAGR of 12.7% between 2024 and 2032, to reach a value of USD 651.54 billion by 2032.
| Global Video Games Market Report Summary | Description | Value |
| Base Year | USD Billion | 2023 |
| Historical Period | USD Billion | 2018-2023 |
| Forecast Period | USD Billion | 2024-2032 |
| Market Size 2023 | USD Billion | 221.71 |
| Market Size 2032 | USD Billion | 651.54 |
| CAGR 2018-2023 | Percentage | XX% |
| CAGR 2024-2032 | Percentage | 12.7% |
| CAGR 2024-2032 - Market by Region | Asia Pacific | 14.6% |
| CAGR 2024-2032 - Market by Country | India | 16.8% |
| CAGR 2024-2032 - Market by Country | China | 14.0% |
| CAGR 2024-2032 - Market by Device | Mobile | 14.2% |
| CAGR 2024-2032 - Market by Platform Type | Online | 16.9% |
| Market Share by Country 2023 | Germany | 4.2% |
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Key Trends in the Market
Video games refer to games that are played in a virtual interactive format, either online or offline. Typically, video games are played on an electronic device with a television or high-end display screen, which are connected to a graphic image controlling remote. A video game utilises audio/visual apparatus, is based on a set of rules and objectives, and can support single or multiple players.
- The growing number of professional and casual gamers for social interaction, entertainment, or generating a source of passive income, is driving the video games market growth. With the growing market for professional gaming, there is increasing demand for video games overall.
- Video games can positively health, mentally and physically by enhancing hand-eye coordination, increasing multi-tasking abilities, improving decision making, and overall better creative thinking. The various health benefits of video games are encouraging their adoption.
- The growing trend of mobile gaming is contributing towards the expansion of the market for video games. This can be attributed to the increasing adoption of smartphones and improvements in smartphone technology that support more advanced video games.
- Technical innovations by market players, such as the incorporation of augmented and virtual reality into video games are attracting a greater number of gamers. Other advancements in gaming technology include gesture control, facial recognition, voice recognition, high-definition displays, enhanced audio-video quality, and integrated 3D imaging and graphics, among others.
Video Games Market Analysis
Based on device, the market is segmented into consoles, mobile, and PC/laptop. On the basis of age group, the market is classified into Generation X, Generation Y, and Generation Z. By platform type, the video games market segmentation is online and offline. The regional markets for video games are divided into North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
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The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the key players in the global video games market, covering their competitive landscape and latest developments like mergers, acquisitions, investments and expansion plans.
- Sony Group Corporation
- Microsoft Corporation
- Nintendo Co., Ltd.
- Activision Blizzard, Inc.
- Electronic Arts Inc.
- Epic Games, Inc.
- Take-Two Interactive Software, Inc
- Rovio Entertainment Oyj
- Lucid Games Limited
- Tencent Holdings Ltd.
- Bandai Namco Holdings Inc.
- Others
Video Games Market Share by Platform Type
The online segment, based on platform type, accounts for a healthy portion of the market for video games, supported by the convenience and flexibility offered by online video game platforms. With a greater number of gamers globally, growing accessibility of internet services, and increasing gaming innovations to develop immersive and realistic online gaming experiences, online gaming is moving from a niche hobby to a mainstream activity. The growing number of video game live streamers and gaming content creators are attracting online gamers with entertaining commentary and impressive gaming skills which are building online gaming communities. Moreover, esports tournaments and competitive online gaming platforms are offering further opportunities for professional video gamers.
Video Games Market Share by Region
The Asia Pacific region holds a sizable share of the video games global market, supported by a young demographic, growing popularity of video games, increasing accessibility of video games, and rising disposable incomes. An increasing number of mobile online gamers in countries in the region such as China, South Korea, and India, are further supporting the market. Strong foothold of international game developers and resellers, such as Sony and Nintendo, across strong economies such as China, South Korea, and Japan, is further enhancing innovations and adding revenue in the market. Favourable demographics and expansion of the digital gaming sector across emerging economies are the major market drivers in the region.
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| CAGR 2024-2032 - Market by | Country |
| India | 16.8% |
| China | 14.0% |
| USA | 11.3% |
| Germany | 10.5% |
| Italy | 8.9% |
| Canada | XX% |
| UK | XX% |
| France | XX% |
| Japan | 8.7% |
| Australia | XX% |
| Saudi Arabia | XX% |
| Brazil | XX% |
| Mexico | XX% |
Competitive Landscape
Sony Group Corporation is a leading multinational conglomerate corporation which has a vast product portfolio including cameras, televisions, headphones, car audios, cloud services, media, storage, and cables, among others. The company is a dedicated innovator which has developed products such as televisions with cognitive intelligence, camera with image intelligences, and high-end gaming consoles. It was founded in 1946 and is headquartered in Tokyo, Japan.
Microsoft Corporation is a prominent technology corporation best known for offering operating systems, web browsers, smart devices, and software solutions. The company innovates in the field of artificial intelligence and app development, catering to the demands of various end use sectors. Microsoft was established in 1975 and is based out of Washington in the United States.
Nintendo Co., Ltd. is a renowned developer, manufacturer, and seller of electronic products designed for home entertainment. This video game company also develops hardware and software products, gaming consoles, and handheld smart electronic devices. Founded in 1889 and headquartered in Kyoto, Japan, Nintendo is dedicated towards developing computer-enhanced video-gaming platforms.
Other market players include Activision Blizzard, Inc., Electronic Arts Inc., Epic Games, Inc., Take-Two Interactive Software, Inc, Rovio Entertainment Oyj, Lucid Games Limited, Tencent Holdings Ltd., and Bandai Namco Holdings Inc., among others.
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
|
| Breakup by Device |
|
| Breakup by Age Group |
|
| Breakup by Platform Type |
|
| Breakup by Region |
|
| Market Dynamics |
|
| Competitive Landscape |
|
| Companies Covered |
|
Video Games Market Report Snapshots
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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Key Questions Answered in the Report
The market reached a value of USD 221.71 billion in 2023.
The market is estimated to grow at a CAGR of 12.7% between 2024 and 2032.
The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach a value of USD 651.54 billion by 2032.
The growing number of professional and casual gamers, development of immersive and realistic games, and increasing gaming console-purchasing due to rising disposable income are the major drivers of the market.
The key trends in the market include the penetration of modern technologies such as augmented and virtual reality, emerging online-gaming platforms, and growing number of live streamers.
Consoles, mobile, and PC/laptop are the different devices of video games in the market.
Generation X, Generation Y, and Generation Z are the different age groups of video games in the market.
Video games can improve cognitive development, stimulate brain cells, and helps improve the health of neural circuits.
Technologies such as augmented and virtual reality and cloud gaming helps video games by boosting graphics quality and enabling metaverse gaming.
Sony Group Corporation, Microsoft Corporation, Nintendo Co., Ltd., Activision Blizzard, Inc., Electronic Arts Inc., Epic Games, Inc., Take-Two Interactive Software, Inc, Rovio Entertainment Oyj, Lucid Games Limited, Tencent Holdings Ltd., and Bandai Namco Holdings Inc., among others, are the key players in the video games market, according to the report.
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