Video Game Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032
Growth Factors of Video Game Market
The video game market size was valued at USD 188.73 billion in 2021, and the market is now projected to grow from USD 199.74 billion in 2022 to USD 307.19 billion by 2029, exhibiting a CAGR of 6.3% during the forecast period of 2022-2029.
Worldwide health and economic constancy were harshly impacted as the innovative strain of COVID-19 emerged. Social distancing norms and strict lockdowns were executed. Additionally, offices, schools, and other happenings which may lead to social meetings were banned. This enforced people to spend more time at home thus growing the demand for video games. However, market demand kept changing according to pandemic harshness and government regulations on social activities.
The rising incorporation of 3D, high-definition graphics, sound effects, Virtual Reality (VR), and Augmented Reality (AR) in games has made them more vividly sound and high-functioning. They are more tempting and thus can grab the consideration of a large customer base. Video games have become more accurate in terms of representation. High-quality visual effects, describing, and sound effects make them appear more natural. The developers are dedicated on developing games with more realistic graphics due to the improvement in technology from 8-bit resolution to 64-bit resolution. The technological improvements have been constant and prompt in game progress and have brought a shift toward personalization and user-centricity.
The market has witnessed an exponential upsurge in the preference of individuals toward competitive multiplayer mobile games. Esports has become a world-wide miracle, and games such as Player Unknown's Battlegrounds (PUBG), and Call of Duty (COD) are highly prevalent. These games follow a multiplayer game format, providing gamers with the capability to interrelate with their equivalents thus contributing to advanced engagement. Additionally, the multiplayer form delivers a sense of accomplishment to performers as they contest with other participants in instantaneous which enhances the video game market growth.
Comprehensive Analysis of Video Game Market
The market can be segmented in various ways, depending on the focus of analysis such as by device, by age group and by platform type. Based on device, the market is classified into smartphones, PC/laptop, and consoles. Based on age group, the market is classified into Generation X, generation Y, and Generation Z. Based on platform type, the market is classified into online and offline.
North America region is dominating the video game market share due to rising technological developments in consoles and other devices.
The key players are enthusiastically contributing in planned events that are targeted at maintaining durable market position and growing market share by merger, partnerships and others. These players include Sony Group Corporation (Japan), Microsoft (U.S.), Nintendo (Japan), Tencent (China), Activision Blizzard (U.S.), Electronic arts (U.S.), Epic Games (U.S.), Take-two interactive (U.S.), Ubisoft (France), Bandai Namco Holdings Inc. (Japan) these market players spending severely on research and development in order to arise with more new technology so that they can maintain and improve their existing market.
In March 2022, OnePlus launched its new flagship phone, the OnePlus 10 Pro, with progressive features such as 150W SuperVOOC fast charging, HyperBoost Gaming Engine, and others for aiming gamers.
Segmentation Table
ATTRIBUTE
DETAILS
Study Period
2018-2029
Base Year
2021
Forecast Period
2022-2029
Historical Period
2018-2020
Unit
Value (USD Billion)
By Device
Smartphones
PC/Laptop
Consoles
By Age Group
Generation X
Generation Y
Generation Z
By Platform Type
Online
Offline
By Region
North America (By Device, Age Group, Platform, and Country)
U.S. (By Device)
Canada (By Device)
Mexico (By Device)
Europe (By Device, Age Group, Platform, and Country)
Germany (By Device)
U.K. (By Device)
France (By Device)
Italy (By Device)
Spain (By Device)
Rest of Europe (By Device)
Asia Pacific (By Device, Age Group, Platform, and Country)
China (By Device)
India (By Device)
Japan (By Device)
Australia (By Device)
Rest of Asia Pacific (By Device)
South America (By Device, Age Group, Platform, and Country
Brazil (By Device)
Argentina (By Device)
Rest of South America (By Device)
Middle East and Africa (By Device, Age Group, Platform, and Country)
South Africa (By Device)
UAE (By Device)
Rest of Middle East & Africa (By Device)Please Note: It will take 5-6 business days to complete the report upon order confirmation.
- 1. Introduction
- 1.1. Research Scope
- 1.2. Market Segmentation
- 1.3. Research Methodology
- 1.4. Definitions and Assumptions
- 2. Executive Summary
- 3. Market Dynamics
- 3.1. Market Drivers
- 3.2. Market Restraints
- 3.3. Market Opportunities
- 3.4. Market Trends
- 4. Key Insights
- 4.1. Overview of the Parent/Related Markets
- 4.2. Regulatory Landscape
- 4.3. Industry SWOT Analysis
- 4.4. Recent Industry Developments - Policies, Partnerships, New Product Launches, and Mergers & Acquisitions
- 4.5. Impact of COVID on the Video Games Market
- 4.5.1. Impact of COVID-19
- 4.5.2. Supply Chain Challenges
- 4.5.3. Potential Opportunities due to COVID-19
- 5. Global Video Games Market Analysis, Insights and Forecast, 2018-2029
- 5.1. Key Findings / Summary
- 5.2. Market Size Estimates and Forecast
- 5.2.1. By Device
- 5.2.1.1. Smart Phones
- 5.2.1.2. PC/Laptop
- 5.2.1.3. Consoles
- 5.2.2. By Age Group
- 5.2.2.1. Generation X
- 5.2.2.2. Generation Y
- 5.2.2.3. Generation Z
- 5.2.3. By Platform Type
- 5.2.3.1. Online
- 5.2.3.2. Offline
- 5.2.4. By Region (Value)
- 5.2.4.1. North America
- 5.2.4.2. Europe
- 5.2.4.3. Asia Pacific
- 5.2.4.4. South America
- 5.2.4.5. Middle East & Africa
- 6. North America Video Games Market Analysis, Insights and Forecast, 2018-2029
- 6.1. Key Findings / Summary
- 6.2. Market Size Estimates and Forecast
- 6.2.1. By Device
- 6.2.1.1. Smart Phones
- 6.2.1.2. PC/Laptop
- 6.2.1.3. Consoles
- 6.2.2. By Age Group
- 6.2.2.1. Generation X
- 6.2.2.2. Generation Y
- 6.2.2.3. Generation Z
- 6.2.3. By Platform Type
- 6.2.3.1. Online
- 6.2.3.2. Offline
- 6.2.4. By Country (Value)
- 6.2.4.1. U.S
- 6.2.4.1.1. By Device
- 6.2.4.1.1.1. Smart Phones
- 6.2.4.1.1.2. PC/Laptop
- 6.2.4.1.1.3. Consoles
- 6.2.4.2. Canada
- 6.2.4.2.1. By Device
- 6.2.4.2.1.1. Smart Phones
- 6.2.4.2.1.2. PC/Laptop
- 6.2.4.2.1.3. Consoles
- 6.2.4.3. Mexico
- 6.2.4.3.1. By Device
- 6.2.4.3.1.1. Smart Phones
- 6.2.4.3.1.2. PC/Laptop
- 6.2.4.3.1.3. Consoles
- 7. Europe Video Games Market Analysis, Insights and Forecast, 2018-2029
- 7.1. Key Findings / Summary
- 7.2. Market Size Estimates and Forecast
- 7.2.1. By Device
- 7.2.1.1. Smart Phones
- 7.2.1.2. PC/Laptop
- 7.2.1.3. Consoles
- 7.2.2. By Age Group
- 7.2.2.1. Generation X
- 7.2.2.2. Generation Y
- 7.2.2.3. Generation Z
- 7.2.3. By Platform Type
- 7.2.3.1. Online
- 7.2.3.2. Offline
- 7.2.4. By Country (Value)
- 7.2.4.1. U.K.
- 7.2.4.1.1. By Device
- 7.2.4.1.1.1. Smart Phones
- 7.2.4.1.1.2. PC/Laptop
- 7.2.4.1.1.3. Consoles
- 7.2.4.2. France
- 7.2.4.2.1. By Device
- 7.2.4.2.1.1. Smart Phones
- 7.2.4.2.1.2. PC/Laptop
- 7.2.4.2.1.3. Consoles
- 7.2.4.3. Germany
- 7.2.4.3.1. By Device
- 7.2.4.3.1.1. Smart Phones
- 7.2.4.3.1.2. PC/Laptop
- 7.2.4.3.1.3. Consoles
- 7.2.4.4. Italy
- 7.2.4.4.1. By Device
- 7.2.4.4.1.1. Smart Phones
- 7.2.4.4.1.2. PC/Laptop
- 7.2.4.4.1.3. Consoles
- 7.2.4.5. Spain
- 7.2.4.5.1. By Device
- 7.2.4.5.1.1. Smart Phones
- 7.2.4.5.1.2. PC/Laptop
- 7.2.4.5.1.3. Consoles
- 7.2.4.6. Rest of Europe
- 7.2.4.6.1. By Device
- 7.2.4.6.1.1. Smart Phones
- 7.2.4.6.1.2. PC/Laptop
- 7.2.4.6.1.3. Consoles
- 8. Asia Pacific Video Games Market Analysis, Insights and Forecast, 2018-2029
- 8.1. Key Findings / Summary
- 8.2. Market Size Estimates and Forecast
- 8.2.1. By Device
- 8.2.1.1. Smart Phones
- 8.2.1.2. PC/Laptop
- 8.2.1.3. Consoles
- 8.2.2. By Age Group
- 8.2.2.1. Generation X
- 8.2.2.2. Generation Y
- 8.2.2.3. Generation Z
- 8.2.3. By Platform Type
- 8.2.3.1. Online
- 8.2.3.2. Offline
- 8.2.4. By Country (Value)
- 8.2.4.1. China
- 8.2.4.1.1. By Device
- 8.2.4.1.1.1. Smart Phones
- 8.2.4.1.1.2. PC/Laptop
- 8.2.4.1.1.3. Consoles
- 8.2.4.2. Japan
- 8.2.4.2.1. By Device
- 8.2.4.2.1.1. Smart Phones
- 8.2.4.2.1.2. PC/Laptop
- 8.2.4.2.1.3. Consoles
- 8.2.4.3. India
- 8.2.4.3.1. By Device
- 8.2.4.3.1.1. Smart Phones
- 8.2.4.3.1.2. PC/Laptop
- 8.2.4.3.1.3. Consoles
- 8.2.4.4. Australia
- 8.2.4.4.1. By Device
- 8.2.4.4.1.1. Smart Phones
- 8.2.4.4.1.2. PC/Laptop
- 8.2.4.4.1.3. Consoles
- 8.2.4.5. Rest of Asia Pacific
- 8.2.4.5.1. By Device
- 8.2.4.5.1.1. Smart Phones
- 8.2.4.5.1.2. PC/Laptop
- 8.2.4.5.1.3. Consoles
- 9. South America Video Games Market Analysis, Insights and Forecast, 2018-2029
- 9.1. Key Findings / Summary
- 9.2. Market Size Estimates and Forecast
- 9.2.1. By Device
- 9.2.1.1. Smart Phones
- 9.2.1.2. PC/Laptop
- 9.2.1.3. Consoles
- 9.2.2. By Age Group
- 9.2.2.1. Generation X
- 9.2.2.2. Generation Y
- 9.2.2.3. Generation Z
- 9.2.3. By Platform Type
- 9.2.3.1. Online
- 9.2.3.2. Offline
- 9.2.4. By Country (Value)
- 9.2.4.1. Brazil
- 9.2.4.1.1. By Device
- 9.2.4.1.1.1. Smart Phones
- 9.2.4.1.1.2. PC/Laptop
- 9.2.4.1.1.3. Consoles
- 9.2.4.2. Argentina
- 9.2.4.2.1. By Device
- 9.2.4.2.1.1. Smart Phones
- 9.2.4.2.1.2. PC/Laptop
- 9.2.4.2.1.3. Consoles
- 9.2.4.3. Rest of South America
- 9.2.4.3.1. By Device
- 9.2.4.3.1.1. Smart Phones
- 9.2.4.3.1.2. PC/Laptop
- 9.2.4.3.1.3. Consoles
- 10. Middle East & Africa Video Games Market Analysis, Insights and Forecast, 2018-2029
- 10.1. Key Findings / Summary
- 10.2. Market Size Estimates and Forecast
- 10.2.1. By Device
- 10.2.1.1. Smart Phones
- 10.2.1.2. PC/Laptop
- 10.2.1.3. Consoles
- 10.2.2. By Age Group
- 10.2.2.1. Generation X
- 10.2.2.2. Generation Y
- 10.2.2.3. Generation Z
- 10.2.3. By Platform Type
- 10.2.3.1. Online
- 10.2.3.2. Offline
- 10.2.4. By Country (Value)
- 10.2.4.1. South Africa
- 10.2.4.1.1. By Device)
- 10.2.4.1.1.1. Smart Phones
- 10.2.4.1.1.2. PC/Laptop
- 10.2.4.1.1.3. Consoles
- 10.2.4.2. UAE
- 10.2.4.2.1. By Device
- 10.2.4.2.1.1. Smart Phones
- 10.2.4.2.1.2. PC/Laptop
- 10.2.4.2.1.3. Consoles
- 10.2.4.3. Rest of Middle East & Africa
- 10.2.4.3.1. By Device
- 10.2.4.3.1.1. Smart Phones
- 10.2.4.3.1.2. PC/Laptop
- 10.2.4.3.1.3. Consoles
- 11. Competitive Matrix
- 11.1. Business Strategies Adopted by Leading Players
- 11.2. Global Video Games Market Revenue Share/Ranking Analysis, By Key Manufacturer
- 12. Company Profiles
- 13. 12.1 Sony Group Corporation
- 13.1.
- 13.1.1. Overview
- 13.1.2. Description
- 13.1.3. Product Portfolio
- 13.1.4. Financials (Data as available in public domain and/or on paid databases)
- 13.1.5. Recent Developments
- 13.2. Microsoft
- 13.2.1. Overview
- 13.2.2. Description
- 13.2.3. Product Portfolio
- 13.2.4. Financials (Data as available in public domain and/or on paid databases)
- 13.2.5. Recent Developments
- 13.3. Nintendo
- 13.3.1. Overview
- 13.3.2. Description
- 13.3.3. Product Portfolio
- 13.3.4. Financials (Data as available in public domain and/or on paid databases)
- 13.3.5. Recent Developments
- 13.4. Tencent
- 13.4.1. Overview
- 13.4.2. Description
- 13.4.3. Product Portfolio
- 13.4.4. Financials (Data as available in public domain and/or on paid databases)
- 13.4.5. Recent Developments
- 13.5. Activision Blizzard
- 13.5.1. Overview
- 13.5.2. Description
- 13.5.3. Product Portfolio
- 13.5.4. Financials (Data as available in public domain and/or on paid databases)
- 13.5.5. Recent Developments
- 13.6. Electronic arts
- 13.6.1. Overview
- 13.6.2. Description
- 13.6.3. Product Portfolio
- 13.6.4. Financials (Data as available in public domain and/or on paid databases)
- 13.6.5. Recent Developments
- 13.7. Epic Games
- 13.7.1. Overview
- 13.7.2. Description
- 13.7.3. Product Portfolio
- 13.7.4. Financials (Data as available in public domain and/or on paid databases)
- 13.7.5. Recent Developments
- 13.8. Take-two interactive
- 13.8.1. Overview
- 13.8.2. Description
- 13.8.3. Product Portfolio
- 13.8.4. Financials (Data as available in public domain and/or on paid databases)
- 13.8.5. Recent Developments
- 13.9. Ubisoft
- 13.9.1. Overview
- 13.9.2. Description
- 13.9.3. Product Portfolio
- 13.9.4. Financials (Data as available in public domain and/or on paid databases)
- 13.9.5. Recent Developments
- 13.10. Bandai Namco Holdings Inc.
- 13.10.1. Overview
- 13.10.2. Description
- 13.10.3. Product Portfolio
- 13.10.4. Financials (Data as available in public domain and/or on paid databases)
- 13.10.5. Recent Developments
- 14. Strategic Recommendations
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