Blockchain Gaming Market
Growth Factors of Blockchain Gaming Market
The blockchain gaming market size was reached at a value of USD 128.62 billion in 2022, and the market is now projected to grow from USD 154.46 billion in 2023 to USD 614.91 billion by 2030 exhibiting a CAGR of 23.87% during the forecast period of 2023-2030.
Government has put restrictions on social gatherings, events and moving out from home which make the people homesick. This led to a significant increase in activity compared to typical on blockchain-based gaming sites. During the epidemic, the social distancing protocol urged everyone to use the internet for amusement, remote work, and basic necessities. A surge in community interactions around knowledge sharing and gaining additional revenue through cryptocurrency gaming has been noted in response to the unexpected interest in blockchain gaming. Numerous companies are encountering hurdles due to covid pandemic as the outbreak situation has curtailed production and supply chain which has hindered the market switched to treating covid patients as priority over the other procedures which led the blockchain gaming market growth.
NFTs have grown in popularity as a fresh approach for content producers to monetize their works, providing players with an additional means of earning money through the collection and exchange of in-game objects. Gamers will have more ownership and profitable earning options when blockchain technology adopt NFTs. This contributes to the economic returns on the time they spend playing games, which supports the market's expansion.
Expanding need for decentralized games to enhance gaming experience drives market expansion during projected period. The advent of decentralized gaming brought about a change in the gaming industry thanks to blockchain technology. This novel idea transforms how players engage with virtual environments and provides a number of advantages.
Comprehensive Analysis of Blockchain Gaming Market
The blockchain gaming market and information & communication technology industry is rising at an exponential rate due to its market segmentation. This market expansion effectively provides a detailed regional assessment considering the dominant supply and demand forces that impact the technology benefit management industry. These segmentations are methodically segregated by games type and by end users. The games type segmentations include, Role Playing Games (RPG), Multiplayer Games, and Collectible Games, By Technology segmentations include Web-based, Android, and iOS.
The North America region lead the blockchain gaming market by benefitting a market size of USD 30.70 billion in 2023 due to NFTs' widespread adoption among users.
The top players in the market play a crucial role in the information & communication technology industry assuring industrial prospectus growth and setting market standards. These players include, Dapper Labs Inc. (Canada), Sky Mavis (Singapore), Animoca Brands Corporation Limited. (China), Illuvium (U.S.), WAX (China), Immutable (U.S.), The Sandbox (China), Mythical Inc. (U.S.), Splinterlands (U.S.), Wemade Co., Ltd. (South Korea) these market players provide a level-playing competitive environment.
In October 2023, Animoca Brands declared that it has acquired Azarus, a provider of Web3 streaming platforms. Through the acquisition, Animoca Brands was able to better utilize Azarus' cutting-edge technology by improving Web3 games' streaming capabilities.
Segmentation Table
ATTRIBUTE DETAILS
Study Period 2017-2030
Base Year 2022
Estimated Year 2023
Forecast Period 2023-2030
Historical Period 2017-2021
Growth Rate CAGR of 21.8% from 2023 to 2030
Unit Value (USD billion)
Segmentation By Game Type
Role Playing Games (RPG)
Multiplayer Games
Collectible Games
By Technology
Web-based
Android
iOS
By Region
North America (By Game Type, Technology, and Country)
Europe (By Game Type, Technology, and Country)
- U.K.
- Germany
- France
- Italy
- Spain
- Russia
- Benelux
- Nordics
- Rest of Europe
Asia Pacific (By Game Type, Technology, and Country)
- China
- India
- Japan
- South Korea
- ASEAN
- Oceania
- Rest of Asia Pacific
Middle East & Africa (By Game Type, Technology, and Country)
- Turkey
- Israel
- GCC
- North Africa
- South Africa
- Rest of the Middle East & Africa
South America (By Game Type, Technology, and Country)Brazil
- Argentina
- Rest of South America
Please Note: It will take 5-6 business days to complete the report upon order confirmation.