Gaming Market Size (2024 - 2029)

Gaming Industry Analysis

The Gaming Market size is estimated at USD 244.22 billion in 2024, and is expected to reach USD 397.21 billion by 2029, growing at a CAGR of 10.17% during the forecast period (2024-2029).

• The global gaming industry is experiencing increased demand due to rising internet connectivity, growing smartphone adoption, and the introduction of high-bandwidth networks like 5G. In addition, several operators have launched commercial 5G services with significant population penetration, opening new opportunities for mobile vendors to introduce 5G smartphones in the market.
• The continuous technological advancements in the gaming industry are also significantly propelling the industry's growth. They enhance the way games are created and improve users' overall gaming experience. Game developers in emerging economies continually strive to enhance the gaming experience. They achieve this by developing and optimizing codes for various platforms, including PlayStation, Xbox, and Windows PC. These efforts result in a unified product delivered to gamers via cloud platforms.
• According to NewGenApps, by 2025, the global user base of AR and VR games is estimated to increase to 216 million. According to a worldwide survey of technology company executives, startup founders, and investors, 59% of the respondents believe gaming will dominate the investment in developing VR (Virtual Reality) technology. In addition, as cryptocurrency continues to be a global phenomenon, various industries across the world are identifying ways to incorporate crypto into their products and services as game developers are inventing new methods to leverage cryptos for purchasing and trading in-game products, cosmetics, and unlocked characters.
• The gaming market share is significantly driven by the rising adoption of gaming platforms like E-sports. E-sports are witnessing a significant increase in market share in the current market scenario, thereby driving the overall gaming industry across the world. The entire e-sports market is anticipated to grow over the coming years. Most of the audience and players of E-sports are millennials. Thus, esports publishers target these customers by personalizing the gameplay experience and offering the game on different platforms through the console, PC, and mobile.
• The gaming industry is witnessing a surge in Non-Fungible Tokens (NFTs) and a growing adoption of the play-to-earn (P2E) model. These trends are reshaping game development, gameplay, and revenue streams, providing players and developers with fresh opportunities for interaction and income.
• According to gaming industry trends, the market is witnessing rising fraud cases, such as copyright infringement and fake gaming sites, among others. Emerging and evolving fraud trends are increasing account takeover attacks across industries, especially online gaming. Game hacking is further increasing, resulting in fraud related to customer accounts and personal identity thefts.

Gaming Industry Segmentation

The gaming industry is defined based on the revenues generated from the gaming types used across the world. The analysis is based on the market insights captured through primary and secondary. The market also covers the major factors impacting gaming industry growth in terms of drivers and restraints. 

The gaming market is segmented by gaming type (mobile games, console games, downloaded/box PC, and e-sports) and key geographies (North America [United States and Canada], Europe [Germany, the United Kingdom, France, Russia, Spain, Italy, and the Rest of Europe], Asia-Pacific [China, Japan, South Korea, India, Taiwan, Indonesia, Australia, and the Rest of Asia-Pacific], Latin America [Brazil, Argentina, Mexico, and the Rest of Latin America], and the Middle East and Africa [the United Arab Emirates, Saudi Arabia, Iran, Egypt, Turkey, Israel, and the Rest of the Middle East and Africa]). The gaming market share, spending and forecasts are provided in terms of value (USD), in addition to gamer demographics such as gender, gamer population, and genre.