Press release
Online Gaming Market Worth $431.87 Billion by 2030
According to this latest publication from Meticulous Research®, the Online Gaming Market is projected to register a CAGR of 19.6% from 2023-2030, to reach $431.87 billion by 2030. The growth of this market is driven by the rise in popularity of online gaming, a surge in the use of smartphones for online gaming, and the gradual establishment of internet infrastructure in developing countries. However, a lack of standards and regulations restrains the growth of this market. In addition, the creation of new monetization models and in-game advertisements and sponsorships are expected to offer significant opportunities for the growth of this market.
The online gaming market is segmented by model, genre, revenue stream, platform, and streaming. The study also evaluates industry competitors and analyzes the market at the region/country level.
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Based on model, the global online gaming market is segmented into free-to-play games and pay-to-play games. In 2023, the free-to-play segment is expected to account for the larger share of the global online gaming market. The growth of this segment is attributed to increasing digital entertainment media, the rise in the number of smartphone users and the increasing usage of the internet across the globe. However, the pay-to-play segment is expected to register the highest CAGR during the forecasted period.
Based on genre, the global online gaming market is segmented into action/adventure, sandbox, simulation and sports, role-playing, player vs. player, multiplayer online battle arena, real-time strategy, shooters, racing, puzzlers and party games, survival horror and other genres. In 2023, the action-adventure segment is expected to account for the largest share of the global online gaming market. The large market share of this segment is attributed to technologies like VR and AR to improve the gaming experience. However, the shooters segment is projected to register the highest CAGR during the forecast period.
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Based on revenue stream, the global online gaming market is segmented into advertisements & sponsorships, game publisher fees, media & broadcasting rights, ticket sales and merchandise sales. In 2023, the advertisement & sponsorships segment is expected to account for the largest share of the global online gaming market. The large market share of this segment is mainly attributed to the rising number of video gamers, increasing collaborations between game publishers and advertisers, and increasing engagement in digital products since the COVID-19 pandemic. However, the game publisher fees segment is expected to register the highest CAGR during the forecast period.
Based on platform, the global online gaming market is segmented into mobile platforms, PCs, consoles, and other platforms. In 2023, the mobile platforms segment is expected to account for the largest share of the global online gaming market and is slated to register the highest CAGR during the forecast period. The rise in the growing penetration of high-performance smartphones; availability of high-speed internet connectivity; development of free-to-play online games; and the growing availability of phones with better screen resolution, refresh rate, and touch sampling rate boost the segment growth.
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Based on streaming, the global online gaming market is segmented into live streaming and on-demand streaming. In 2023, the live streaming segment is expected to account for the larger share of the global online gaming market. The large market share of this segment is attributed to the rising popularity of live-streaming technology for better brand engagement and reach to consumers and the growing popularity of e-sports and video games. However, the on-demand streaming segment is slated to register the highest CAGR during the forecast period.
Based on geography, the online gaming market is segmented into North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa (MEA). In 2023, the Asia-Pacific region is expected to account for the largest share of the online gaming market. The large market share of Asia Pacific is mainly attributed to the high focus of gaming companies on game development in China, Japan, South Korea, and India and the deployment of multiple tactics and strategies by China's game developers to attract users and integrate social media networks with games.
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Key Players
The key players operating in the online gaming market are Microsoft Corporation (U.S.), Activision Blizzard, Inc. (U.S.), Apple Inc. (U.S.), Electronic Arts Inc. (U.S.), Nintendo Co., Ltd. (Japan), Capcom Co., Ltd. (Japan), SEGA (U.S.), Rovio Entertainment Corporation (Finland), GungHo Online Entertainment (Japan), Ubisoft Entertainment (Japan), Sony Interactive Entertainment Inc. (Japan), SQUARE ENIX HOLDINGS CO., LTD. (Japan), Gameloft (France), iTechArt (U.S.), Amazon.Com, Inc. (U.S.), and Tencent Holdings Ltd. (China).
Key questions answered in the report-
• Which are the high-growth market segments based on model, genre, revenue stream, platform and streaming?
• What was the historical market for online gaming?
• What are the market forecasts and estimates for the period 2023-2030?
• What are the major drivers, restraints, and opportunities in the online gaming market?
• Who are the major players, and what shares do they hold in the online gaming market?
• How is the competitive landscape in the online gaming market?
• What are the recent developments in the online gaming market?
• What are the different strategies adopted by the major players in the online gaming market?
• What are the key geographic trends, and which are the high-growth countries?
• Who are the local emerging players in the global online gaming market, and how do they compete with the other players?
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Edge Computing Market: https://www.meticulousresearch.com/product/edge-computing-market-5061
Live Streaming Market: https://www.meticulousresearch.com/product/live-streaming-market-5225
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