Video Game Market Size, Share, Trends, Research, 2032

In addition, the higher accessibility will further surge the demand for online games. Furthermore, the higher affordability of smartphones significantly contributes to market growth. Italy is emerging as the fastest-growing gaming market in Europe, with a remarkable CAGR of 12.21% projected from 2024 to 2029, outpacing other major European markets. Italy’s gaming boom is further fueled by the rising popularity of mobile gaming, strategic partnerships between gaming operators and software providers, and a flourishing esports scene that’s attracting significant investments. Since those dark days, global video game industry revenues were set to exceed 200 billion U.S. dollars in 2022. The rate at which we are seeing the gaming industry boom each year could mean the estimate above is actually pretty modest.

Gaming Market Product Segment Analysis

What that means is that new games and the big games were driving a lot of the PC and console market in 2019. The global video game market size is projected to grow from $199.74 billion in 2022 to $307.19 billion by 2029, at a CAGR of 6.3% during the forecast period. In addition, technological advancements in Graphic Processor Units (GPU) have made performance smooth; thus, a combination of technologically advanced GPU and display offers a perfect ratio of performance and visuals. For instance, in November 2022, Advanced Micro Devices (AMD), an American multinational semiconductor company, announced the launch of its new next-generation graphic card, “RDNA 3”.

APAC is the world’s largest gaming region, home to 55% of all global players and three of the top four markets by consumer spending (mainland China, Japan, and South Korea). The $57.9 billion being spent on mobile games in 2021 represents two-thirds of all consumer spending in the region. Germany has the largest video games market in Europe, with revenues of $4.1 billion forecast for 2017.110 The annual Gamescom in Cologne is Europe’s largest video game expo. As I do every year around this time, I’ve put together a list of four predictions for where video games are going in 2025.

Most of the past year’s growth came from veteran players using newfound free time to play more. Within this group:

As positive as 2021 was, the following year saw the global market decrease instead of increase as pandemic restrictions receded in full. 2023 saw a slight improvement in value, but the year was marred by waves of layoffs throughout the industry, with headcounts collectively dropping by around 10,000. Nintendo themselves are recognized for having created some of the most positively-reviewed and best-selling video game series such as Mario, Donkey Kong, The Legend of Zelda, Metroid and Pokémon. Other well-known current and former developers from Germany include Ascaron, Blue Byte, Deck13, EA Phenomic, Piranha Bytes, Radon Labs, Related Designs, Spellbound Entertainment and Yager Development.

The launch is to stay ahead of the competition as Nvidia, which is its immediate competitor and a high-speed GPU manufacturer, started discussing its plan to launch RTX 4090 GPU. Large gaming companies are characterized by their substantial investments in research and development, focus on intellectual property (IP) creation, and ability to adapt to emerging technologies. Product innovation is a key driver of success, with companies continuously developing new games and enhancing existing franchises.

REPORT COVERAGE

With a focus on writing and editing features, he seeks out personal stories and in-depth histories from the corners of PC gaming and its niche communities. The most important key figures provide you with a compact summary of the topic of “Video gaming in the United States” and take you straight to the corresponding statistics. For now, as the industry ‘corrects’ itself following a period of excess, it should hope to return to stronger growth as the lockdown years fade into the distance.

Despite recent growth in audience and engagement, average spend per player in Latin America remains relatively low. Finding more effective ways to monetize new and existing players is the key to continued growth. Live streaming and esports are more popular in Latin America than in game industry any other region, including Asia. Developers should embrace this aspect of gaming culture and make it a key element of their expansion strategies. The game consoles computer graphics hardware was worth $12 Billion US dollars in 2020.

Mobile games have emerged as the largest and fastest-growing segment in the gaming market. This segment’s dominance is primarily driven by the widespread availability of smartphones and increasing internet penetration globally. The mobile game market has been further bolstered by rapid technological advancements, including the integration of Augmented Reality (AR), Virtual Reality (VR), and cloud gaming capabilities.