Global Video Gaming Market Report 2023: Market to Grow by Over $70 Billion by 2029

DUBLIN, July 20, 2023 /PRNewswire/ -- The "Growth Opportunities in the Global Video Gaming Market" report has been added to ResearchAndMarkets.com's offering.

The analyst expects the global video gaming market to grow from $206.6 billion in 2022 to $280.65 billion in 2029.

Revenue in the video gaming market is expected to bounce back from a decline in 2022 and stabilize growth to a compound annual growth rate (CAGR) of 4.5% from 2022 to 2029 in terms of revenue, driven by the recovery of disposable income and the increasing penetration of mobile devices.

This study covers the global market for video gaming services. Gaming services allow users to play video games by interacting with an interface to get visual feedback. The scope of this study includes gaming solutions offered by providers, such as hardware gaming consoles and software (video games) offered in three types of platforms: consoles, PCs, and mobile devices.

This study covers both online and offline gaming experiences, both cloud gaming and streaming gaming services are part of the analysis. The global video gaming market showed high growth years prior to the COVID-19 pandemic (from 10 to 15% every year). With the global economy slowing down and the market reaching its natural limits, the analyst expects to see more modest yet steady mid-single-digit growth rates in the forecast period.

The expansion of internet connections, the growing penetration of mobile devices, the rise of social gaming, the growth of esports, cloud gaming's spread, and extended reality (XR) development are some of the main drivers that will help the market grow.

Primary and secondary information, in conjunction with internal information databases, has been used to analyze the market and provide observations and conclusions in this study. The publisher expects that this analysis will provide video gaming companies with valuable insights to increase their footprint and penetration opportunities within the evolving video gaming market.

Key Topics Covered:

Strategic Imperatives

• Why is it Increasingly Difficult to Grow?
• The Strategic Imperative 
• The Impact of the Top 3 Strategic Imperatives on the Global Video Gaming Industry
• Growth Opportunities Fuel the Growth Pipeline Engine

Growth Opportunity Analysis

• Offering Games on Top of Digital Media Platforms
• Boosting In-Game Cosmetics
• Developing XR Games
• Leveraging Generative AI to Accelerate Innovation
• Investing in Cloud Gaming
• Expanding In-game Advertising in Console and PC Games
• Growing Esports Participation
• Incorporating Wider Range of Identities

Report Scope

• Scope of Analysis
• Definitions
• Market Segmentation by Platform
• Key Competitors
• Growth Metrics
• Growth Drivers
• Growth Driver Analysis
• Growth Restraints
• Growth Restraint Analysis
• Forecast Assumptions
• Revenue Forecast - Video Gaming Market
• Revenue Forecast - Mobile Gaming
• Revenue Forecast - PC Gaming
• Revenue Forecast - Console Gaming
• Revenue Forecast by Technology Type - Console Gaming
• Revenue Forecast by Platform - Mobile/PC/Console
• Percent Revenue by Region - Video Gaming
• Revenue Forecast Analysis
• Revenue Analysis by Region
• Pricing Trends and Forecast Analysis
• Competitive Environment
• Key Participants in the Video Gaming Landscape

For more information about this report visit https://www.researchandmarkets.com/r/pwt55p

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SOURCE Research and Markets