Press release
Steady Expansion Forecast for Gaming Market, Projected to Reach $550.19 Billion by 2029
Gaming Market
Gaming Market Size Valuation Forecast: What Will the Market Be Worth by 2025?
The expansion of the gaming sector has been considerable in the last few years. The market is projected to increase from a size of $310.97 billion in 2024 to $343.22 billion in 2025, reflecting a compound annual growth rate (CAGR) of 10.4%. This growth trend during the historical period is a result of the proliferation of gaming platforms, the emergence of esports and gaming communities, the surge in mobile gaming, and the prevalence of gaming conventions and events.
Gaming Market Size Forecast: What's the Projected Valuation by 2029?
Forecasts suggest that the gaming industry is set to experience significant expansion in the coming years, with the market size predicted to reach $550.19 billion by 2029. This represents a compound annual growth rate (CAGR) of 12.5%. This growth during the forecast interval can be attributed to factors such as innovative game development, increased participation of casual gamers, commitment towards environmental sustainability, gaming's societal impact and diversity, and governmental support and acknowledgment. Key emerging trends during the forecast interval include the growth of cloud gaming, gaming subscription services, augmented reality (AR) and virtual reality (VR) experiences, user-created gaming content and game modification, the dominance of mobile gaming, and the advent of next-generation gaming consoles and technological advances in hardware.
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What Are the Drivers Transforming the Gaming Market?
The growth of the gaming market is expected to be driven by the widespread use of mobile phones. A mobile phone, being a portable electronic device with a cellular network connection, contributes significantly to the growth of the gaming industry by offering improved performance, superior display, and high-end specifications. As an example, a report published by Cybercrew, a UK firm specializing in cybersecurity solutions for businesses of various sizes, in March 2023 stated that mobile phone usage in UK households had reached 91.43% in 2021. This figure is expected to rise to 93.8% by 2026. So, the surge in mobile phone usage is a key factor propelling the growth of the gaming industry.
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What Long-Term Trends Will Define the Future of the Gaming Market?
Key players in the gaming market, such as EA Sports, are enhancing their portfolio by creating novel games like F1 22, leveraging the growing interest in Formula One. EA Sports F1 22 serves as the official video game for the Formula One World Championship and is available on platforms including Microsoft Windows, PlayStation 4, PlayStation 5, Xbox One, and Xbox Series X/S. For example, in June 2022, Codemasters and Electronic Arts Inc., American video game firms, introduced EA Sports F1 22, the exclusive game for the 2022 Formula One World Championship. The game encapsulates all official teams, drivers, and circuits of the 2022 season, in addition to featuring a renewed career mode, diverse multiplayer modes, and a fresh element named F1 Life.
Which Segments in the Gaming Market Offer the Most Profit Potential?
The gaming market covered in this report is segmented -
1) By Game Type: Action, Shooter, Role-Playing, Sports, Other Game Types
2) By Device: Console, Mobile, Computer
3) By Purchase Type: Box Or CD Game Purchase, In-App Purchase Based, Shareware, Freeware, Other Purchase Types
4) By Platform: Online, Offline
Subsegments:
1) By Action: Platformers, Fighting Games, Adventure Games
2) By Shooter: First-Person Shooters, Third-Person Shooters, Battle Royale Games
3) By Role-Playing: Traditional RPGs, Action RPGs, Massively Multiplayer Online RPGs
4) By Sports: Simulation Sports, Arcade Sports, Racing Games
5) By Other Game Types: Puzzle Games, Strategy Games, Simulation Games, Casual Games
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Which Firms Dominate the Gaming Market by Market Share and Revenue in 2025?
Major companies operating in the gaming market are Microsoft Corporation, Nintendo Co. Ltd., Rovio Entertainment Corporation, Nvidia Corporation, Electronic Arts Inc., Sony Corporation, Apple Inc., Google LLC, Bandai Namco Entertainment Inc., Take-Two Interactive Software Inc., Nexon Company, Activision Blizzard Inc., Ubisoft Entertainment SA, Square Enix Holdings Co. Ltd., ZeptoLab OOO, Tencent Holdings Ltd., Sega Games Co. Ltd., Capcom Co. Ltd., NetEase Inc., Interactive Entertainment Beijing Kunlun Technology Co. Ltd., Konami Holdings Corporation, Zynga Inc., GungHo Online Entertainment Inc., NCSoft Corporation, Kakao Games Corp., Smilegate Holdings Inc., Gravity Co. Ltd., Pearl Abyss Corp., Com2uS Corp., LINE Corporation, Wargaming Group Limited
Which Regions Offer the Highest Growth Potential in the Gaming Market?
Asia-Pacific was the largest region in the gaming market in 2024. The regions covered in the gaming market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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