Europe Digital Gaming Market 2023

Europe Digital Gaming Market 2023

The gaming market revenue is predicted to maintain continuous growth between 2022 and 2025, backed by government initiatives, especially in Europe, to boost growth further: new yStats.com report.

The growth of digital gaming globally and especially in Europe soars in the backdrop of initiatives taken by the European Union

The gaming market revenue worldwide is seen to be rising and reached a value close to EUR 180 billion as of 2022. Furthermore, the gaming market revenue is forecasted to grow at a CAGR of nearly +5% between 2022 and 2025, reaching a value in the billions of euros, as revealed by the new yStats.com report. The boom of the overall gaming market shaped consumer expectations, and brands and gaming companies invested in better gaming processors, improved graphics, advanced games, and gaming hardware, among others, leading to more satisfaction for gamers. The European digital gaming market is no exception to these changes within the digital gaming market and is also booming in terms of revenue and viewership, making it one of the fast-growing regions when it comes to gaming. Moreover, Europe accounted for the third-largest share of total gaming revenue after Asia-Pacific and North America, generating estimated revenue of close to EUR 30 billion as of 2022. In terms of the number of gaming players too, Europe constituted a share of more than one-tenth of the total gaming players as of 2022. To further boost the digital gaming market, the European Union has laid down some initiatives in which it aims to invest more than EUR 15 million, as per a source cited in the new yStats.com report. Apart from this, the European Video Game Society project was introduced in January 2022 to evaluate policies and approaches supporting the gaming industry in Europe.

Mobile gaming is yet another emerging trend transforming the digital gaming market in Europe

The mobile gaming market has accelerated following the shift of several digital gamers towards mobile gaming and the rising use of mobile devices as preferred gaming platforms across nations in Europe. The popularity of mobile gaming has gained traction among various companies such as Netflix, Google, and Amazon, among others, with Netflix introducing Netflix Gaming as an initiative to set its foot in the digital gaming market in Europe, as revealed by the new yStats.com report. Western Europe is emerging as a hub of mobile gaming, with the region ranking 3rd in terms of mobile gaming revenue after Eastern Asia and North America. Furthermore, gamers in countries such as the UK, Germany, and France are leaning towards using smartphones and mobile devices as their most preferred gaming platforms. While more than half of surveyed gamers in Germany used smartphones for playing games, nearly half of them indicated they were using consoles such as Nintendo, Xbox, and PlayStation as of 2022. However, in terms of age groups, smartphones, laptops, and tablets were the top three most preferred gaming platforms among gamers in the age range of 16-29 years, while gamers belonging to the age group of 65+ were seen to be using desktop and consoles the most as of July 2022. With more than two-thirds of surveyed internet users in France claiming to play games at least occasionally as of September 2022, smartphones and consoles were the most preferred gaming platforms for gamers during the same period, according to the new yStats.com report.