Latest Developments in Gaming Market

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The gaming market is witnessing significant growth due to advancements in processor technology and emergence of new technologies such as augmented reality (AR), virtual reality (VR), cloud and others. Games such as Counter-Strike, Fortnite, PUBG, Dota 2 and League of Legends with high-definition graphics and good gameplay are finding popularity among gamers globally.   

Gaming Market


According to GlobalData’s latest published report, the global gaming market size was USD 197,153.8 million in 2021 and is expected to grow at a CAGR of 10.1% to reach USD 470,222.7 million by 2030. The gaming market is mainly driven by increasing smartphone penetration, adoption of 5G technology and the emergence of COVID-19 as a global pandemic that forced people to stay indoors. 

Gaming Market


Also, rising popularity of esports events globally is contributing to the growth of the gaming market. Esports events are drawing spectators, gamers in large numbers and are attracting new people to try gaming. For example, the 2021 Free Fire World Series held in Singapore had peak viewership of around 5.4 million. The League of Legends World Championship held in 2022 had a peak viewership of over 4 million and 174 million of collective hours watched. 


Due to the ongoing Russian invasion of Ukraine, game companies such as Activision Blizzard Inc, Nintendo Co Ltd., Electronic Arts Inc, Take-Two Interactive Software Inc suspended sales in Russia. Some of these suspensions were due to operational reasons while some of them were in solidarity with the Ukrainian people. 

Some of the major players in the gaming market include Activision Blizzard Inc, Bandai Namco Holdings Inc, Electronic Arts Inc and Take-Two Interactive Software Inc. Video game companies are focusing on expansion mainly through acquisitions. For example, in March 2022, Tencent Holdings Inc acquired Japanese gaming studio Wake Up for $44 million. In August 2022, Sony Group Corp and Tencent Holdings Inc announced an investment of $260 million in FromSoftware Inc, a Japanese game development company. Companies such as NetEase Inc, Nintendo Co Ltd., and Activision Blizzard Inc acquired new game development studios with an aim to launch new games.  

Need more information? GlobalData's new report covers each of these companies in much more detail, providing an analysis of the following: 

  • Major competitors  
  • Key strategic initiatives 
  • Market Dynamics including Venture Financing, Mergers & Acquisitions deals, Social Media Analytics, and Patent Analytics 
  • The comprehensive report provides global market size estimates, revenue numbers, and coverage of key issues and market drivers. 

For more insights on the Gaming market, Download a FREE sample 

 



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