Video gaming is no longer a hobby exclusively enjoyed by the young. As generations have grown up with video games a normal part of life, the video gaming market size has increased across the globe. As of 2022, it is estimated that the United States ranks first among the biggest gaming markets worldwide, with a revenue of 54.9 billion U.S. dollars. The video gaming market in China ranked second, generating an approximate 44 billion U.S. dollars in annual revenues.
Tencent – the driving force of the Chinese gaming market
China and the United States have been battling it out for the top spot of the biggest global gaming market for years. Shenzhen-headquartered Tencent, one of the biggest online companies worldwide, is also driving the gaming market in China. In 2022, Tencent generated approximately a third of its revenue through its online gaming segment, accumulating 170 billion yuan in the most recent year. The company also has several controlling stakes in a wide range of online and mobile gaming companies worldwide. As such, it comes as no surprise that gaming apps ranked first as single most popular app category based on availability in Chinese app stores. As of 2022, it is estimated that there were around 654 million mobile gamers in China.
The popularity of gaming in the United States
Considered as one of the mainstream forms of entertainment right now, gaming is an integral part of American culture. Current industry figures estimate that there are close to 175 million digital gamers in the United States. According to a survey conducted in 2022, 70 percent of adults in the United States played video games on at least one platform. Despite gaming already having a solid presence in everyday media consumption, the medium is only getting more popular: the coronavirus pandemic has led to non-gamers picking up the controllers, and pre-existing gamers in the United States also been spending more time and money on gaming activities.
Leading gaming markets worldwide in 2022, by gaming revenue
(in million U.S. dollars)
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Statista. (November 22, 2022). Leading gaming markets worldwide in 2022, by gaming revenue (in million U.S. dollars) [Graph]. In Statista. Retrieved November 29, 2023, from https://www.statista.com/forecasts/308454/gaming-revenue-countries
Statista. "Leading gaming markets worldwide in 2022, by gaming revenue (in million U.S. dollars)." Chart. November 22, 2022. Statista. Accessed November 29, 2023. https://www.statista.com/forecasts/308454/gaming-revenue-countries
Statista. (2022). Leading gaming markets worldwide in 2022, by gaming revenue (in million U.S. dollars). Statista. Statista Inc.. Accessed: November 29, 2023. https://www.statista.com/forecasts/308454/gaming-revenue-countries
Statista. "Leading Gaming Markets Worldwide in 2022, by Gaming Revenue (in Million U.S. Dollars)." Statista, Statista Inc., 22 Nov 2022, https://www.statista.com/forecasts/308454/gaming-revenue-countries
Statista, Leading gaming markets worldwide in 2022, by gaming revenue (in million U.S. dollars) Statista, https://www.statista.com/forecasts/308454/gaming-revenue-countries (last visited November 29, 2023)
Leading gaming markets worldwide in 2022, by gaming revenue (in million U.S. dollars) [Graph], Statista, November 22, 2022. [Online]. Available: https://www.statista.com/forecasts/308454/gaming-revenue-countries