Global Video Game Market Size To Exceed USD 924.8 Billion By 2032 | CAGR of 13.8%

Global Video Game Market Size To Exceed USD 924.8 Billion By 2032

According to a research report published by Spherical Insights & Consulting, the Global Video Game Market Size is to grow from USD 253.6 billion in 2022 to USD 924.8 billion by 2032, at a Compound Annual Growth Rate (CAGR) of 13.8% during the projected period.

Browse key industry insights spread across 200 pages with 120 market data tables and figures & charts from the report on the "Global Video Game Market Size, Share, and COVID-19 Impact Analysis, By Device (Console, Mobile, Computer, Cloud Gaming, Virtual Reality, Others), By Type (Online, Offline), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2022 – 2032." Get Detailed Report Description Here: https://www.sphericalinsights.com/reports/video-game-market

A video game, often known as a computer game, is a sort of electronic game that may be played with the help of an input device such as a gamepad, keyboard, or controller. Video games can be used for entertainment and leisure, as well as competitions and education. Some video games are designed to help users improve their fine motor skills and eye-hand coordination. Consumers are more likely to buy a new game if it offers them something fresh, which is one of the most important aspects of the video game market. As a result, consoles and other video game hardware have advanced at an unprecedented rate. The video game market is predicted to rise as a result of factors such as shifting consumer preferences from traditional to online games, increased use of internet services in parallel with the ease of accessibility and affordability of online games, and technological innovation and development. Rising urbanization, changing demographics, increased portability, social contact, and accessibility, as well as changed perceptions and society's openness to embrace gaming, all contributed to a significant increase in the number of gamers. Furthermore, the rising popularity of web-based gaming and the rising number of esports events are expected to drive demand over the projection period.

The mobile segment is dominating the market with the largest revenue share over the forecast period.

On the basis of device, the global video game market is segmented into the console, mobile, computer, cloud gaming, virtual reality, and others. Among these, the mobile segment is dominating the market with the largest revenue share of 43.6% over the forecast period. The increased popularity of smartphones, combined with rising global internet usage, creates significant opportunities for mobile gaming. Furthermore, the growing popularity of mobile gaming among the younger generation is projected to give the mobile device category with an economically viable possibility.

The online segment accounted for the largest revenue share of more than 54.2% over the forecast period.

On the basis of type, the global video game market is segmented into online and offline. Among these, the online segment is dominating the market with the largest revenue share of 54.2% over the forecast period. The expansion of the online recreational gaming business, as well as the increasing number of players of massively multiplayer online (MMO) and free-to-play (F2P) games, are all contributing to the growth of this market.

Asia Pacific dominates the market with the largest market share over the forecast period.

Asia Pacific is dominating the market with more than 41.7% market share over the forecast period. The region's massive population, combined with quick growth in mobile video games and competitive gaming, propels it to the heart of the worldwide video game market. Asia Pacific is a diverse region with a huge population and many cultures, making it a significant contributor to the worldwide video game market. Mobile gaming has grown in China, India, and Southeast Asia, thanks primarily to the increased availability of smartphones and mobile internet. On the other hand, North America is predicted to expand the fastest during the forecast period. North America, which mostly consists of the United States and Canada, is a well-established market with a long history of video game creation and distribution. While North America has always lagged behind Asia in terms of esports, leagues such as the LCS (League of Legends Championship Series) have received significant attention. During the forecast period, the Europe market is expected to rise at a significant CAGR.

Major vendors in the Global Video Game Market include Electronic Arts Inc., Disney, Google LLC, Lucid Games, Epic Games, Microsoft Corp., Nintendo, Tencent Holdings Ltd., Ubisoft Entertainment SA, Activision Blizzard, Apple Inc., THQ Nordic GmbH, Sega Corporation, Rovio Entertainment Corporation, Sony Inc., King Digital Entertainment Plc., and among others.

Key Target Audience

• Market Players
• Investors
• End-users
• Government Authorities 
• Consulting And Research Firm
• Venture capitalists
• Value-Added Resellers (VARs)

Recent Developments

• On April 2023, Atari®, one of the world's most recognizable consumer brands and makers of interactive entertainment, announced the purchase of more than 100 PC and console titles from the 1980s and 1990s. The collection includes games from the Bubsy, Hardball, Demolition Racer, and 1942: Pacific Air War series, as well as the F-117A and F-14 air combat series. Atari plans to enhance the digital and physical distribution of historic titles, develop new games based on the IP, and investigate brand and merchandise collaborations.

Market Segment

This study forecasts revenue at global, regional, and country levels from 2020 to 2032. Spherical Insights has segmented the Global Video Game Market based on the below-mentioned segments:

Video Game Market, Device Analysis

• Console
• Mobile
• Computer
• Cloud Gaming
• Virtual Reality
• Others

Video Game Market, Type Analysis

• Online
• Offline

Video Game Market, Regional Analysis

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • Uk
  • France
  • Italy
  • Spain
  • Russia
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Rest of Asia Pacific
• South America
  • Brazil
  • Argentina
  • Rest of South America
• Middle East & Africa
  • UAE
  • Saudi Arabia
  • Qatar
  • South Africa
  • Rest of Middle East & Africa

About the Spherical Insights & Consulting

Spherical Insights & Consulting is a market research and consulting firm which provides actionable market research study, quantitative forecasting and trends analysis provides forward-looking insight especially designed for decision makers and aids ROI.

Which is catering to different industry such as financial sectors, industrial sectors, government organizations, universities, non-profits and corporations. The company's mission is to work with businesses to achieve business objectives and maintain strategic improvements. 

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