Games - Worldwide

  • Worldwide
  • The Games market is poised to experience significant growth in the coming years.
  • According to projections, the market's revenue is expected to reach a staggering US$455.30bn by 2024.
  • This growth is anticipated to continue at an annual growth rate (CAGR 2024-2029) of 7.93%, resulting in an estimated market volume of US$666.70bn by 2029.
  • When compared globally, it is worth noting that in China is expected to generate the highest revenue in the Games market, with an estimated US$128.90bn in 2024.
  • Furthermore, the number of users in the Games market is projected to reach 2.7bn users by 2029.
  • In terms of user penetration, it is anticipated to be 29.9% in 2024 and is projected to increase to 34.0% by 2029.
  • Additionally, the average revenue per user (ARPU) is expected to amount to US$816.30.
  • These numbers demonstrate the immense potential and growth prospects of the Games market worldwide.
  • In the global games market, the United States remains the dominant player with its high consumer spending and strong presence of major game development companies.

Key regions: Europe, China, India, Japan, United States

 
Market
 
Region
 
Region comparison
 
Currency
 

Analyst Opinion

The games market is constantly evolving and several trends have emerged in recent years. Mobile gaming has become a dominant force, with more than half of the global gaming market revenue coming from mobile games. Cloud gaming is also gaining popularity as it allows users to stream games over the internet without the need for a powerful console or PC. Cross-platform gaming has become increasingly important, allowing players to play games on different devices and platforms, and improving the overall gaming experience. Esports, or competitive video gaming, is becoming more mainstream, attracting investment from professional sports teams and celebrities. Finally, Virtual Reality (VR) gaming is becoming more advanced and accessible, providing players with a more immersive and engaging experience. These trends are expected to continue shaping the games market in the coming years as the industry continues to innovate and evolve.

Technological advancements are opening up new possibilities for game developers to create more immersive and engaging experiences through cloud and VR gaming. The accessibility of games has increased with the rise of mobile and cross-platform gaming, allowing a wider audience to play games and driving growth in the market. The growing esports industry, attracting large tournaments and events, has led to increased investment in the industry and is driving further growth. Expansion into new markets, particularly in Asia and other emerging economies, has created new opportunities for game developers to reach new audiences. Social media integration is playing an increasingly important role in the games market, increasing engagement and fostering communities around games, and is therefore helping to drive growth. As technology continues to advance and new markets emerge, it is likely that the games market will see continued growth and innovation.

According to our forecast, the games market is expected to continue its growth trajectory in the coming years. The Compound Annual Growth Rate (CAGR) for the global gaming market is projected to be 7.7% from 2023 to 2027. This growth is expected to lead to a market revenue size of 532.97 billion USD by 2027, up from 396.13 billion USD in 2023.

Methodology

Data coverage:

The data encompasses B2C enterprises. Figures are based on the Games market, which is divided into Physically Sold Video Games and Digital Video Games. Physically Sold Video Games comprises revenues associated with in-person purchases of video games in retail stores. All monetary figures refer to consumer spending on digital goods or subscriptions in the respective market. This spending factors in discounts, margins, and taxes.

Modeling approach / market size:

The market size is determined through a bottom-up approach. We use annual financial reports of the market-leading companies and industry associations, third-party studies and reports, survey results from our primary research (e.g., Consumer Insights), as well as performance factors (e.g., user penetration, price per product, usage) to analyze the markets. To estimate the market size for each country individually, we use relevant key market indicators and data from country-specific industry associations, such as various macroeconomic indicators, historical developments, current trends, and reported performance indicators of key market players. In particular, we consider average prices and annual purchase frequencies.

Forecasts:

We apply a variety of forecasting techniques, depending on the behavior of the relevant market. For instance, the S-curve function and exponential trend smoothing are well suited for forecasting digital products and services due to the non-linear growth of technology adoption. The main drivers are GDP per capita, consumer spending per capita, and 4G coverage.

Additional notes:

The data is modeled using current exchange rates. The market is updated twice a year in case market dynamics change. The impact of the COVID-19 pandemic is considered at a country-specific level. The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated twice a year. In some cases, the data is updated on an ad hoc basis (e.g., when new, relevant data has been released or significant changes within the market have an impact on the projected development). Consumer Insights data is reweighted for representativeness.

Overview

  • Revenue
  • Analyst Opinion
  • Users
  • Key Players
  • Global Comparison
  • Methodology
  • Key Market Indicators
Please wait