Online Gaming Market to Reach $431.87 Billion By 2030 - Market Size, Share, Forecasts, & Trends Analysis Report with COVID-19 Impact by Meticulous Research®

REDDING, Calif., Feb. 2, 2023 /PRNewswire/ -- According to a new market research report titled, 'Online Gaming Market by Model (Free-to-play, Pay-to-play), Genre, Revenue Stream (Media & Broadcasting Rights, Advertisement & Sponsorships, Others), Platform, Streaming (Live Streaming, On-demand Streaming), and Geography - Global Forecasts to 2030,' the global online gaming market is projected to reach $431.87 billion by 2030, at a CAGR of 19.6% from 2023 to 2030.

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Online gaming can be referred to the games played through the internet or over a computer network. Online games can be played on dedicated video game consoles such as PlayStation, Xbox, and Nintendo Switch. The rising internet connectivity, increasing adoption of smartphones, and the advent of high bandwidth network connectivity, such as 5G, have driven the growth of the gaming market globally. Furthermore, the creation of new monetization models and in-game advertisements and sponsorships are expected to offer significant growth opportunities for players operating in this market.

Increasing use of Smartphones for Online Gaming is expected to Drive the Market Growth

Consumers are increasingly using smartphones for online gaming due to the increasing smartphone penetration and availability at affordable prices. Smartphones have emerged as one of the most user-friendly mediums for online gaming. The growing use of smartphones and the integration of technologies such as AI, big data, and cloud computing are transforming the online gaming industry. These technologies provide a better gaming experience with improved stability and graphics. The COVID-19 pandemic drove an increase in online gaming, as people stayed home and spent much time on entertainment due to the lockdowns and social distancing restrictions. Overall, the pandemic had a positive impact on the online gaming industry. In addition, there was a 40% increase in the time spent on online games using smartphones compared to pre-pandemic levels.

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Online gaming on smartphones offers the following advantages:

• More flexible gaming compared to PCs or gaming consoles
• An immersive experience with technological advances in smartphones
• Health benefits, such as reducing depression and stress
• AR Integration
• Cheaper than owning a PC or gaming console.

To provide efficient analysis, Meticulous Research® has segmented this market based on model (free-to-play games and pay-to-play games), genre (action/adventure, sandbox, simulation and sports, role-playing, player vs. player, multiplayer online battle arena, real-time strategy, shooters, racing, puzzlers and party games, survival horror, and other genres), revenue stream (advertisements & sponsorships, game publisher fees, media & broadcasting rights, ticket sales and merchandise sales), platform (mobile platforms [smartphone games and tablet games], PC [Boxed/downloadable PC games and browser PC games], console, and other platforms), streaming (live streaming and on-demand streaming), and geography (North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa).

Based on model, the global online gaming market is segmented into free-to-play games and pay-to-play games. In 2023, the free-to-play segment is expected to account for the largest share of the global online gaming market. The growth of this segment is attributed to increasing digital entertainment media, the rise in the number of smartphone users and the increasing usage of the internet across the globe. However, the pay-to-play segment is expected to register the highest CAGR during the forecasted period.

Based on genre, the global online gaming market is segmented into action/adventure, sandbox, simulation and sports, role-playing, player vs. player, multiplayer online battle arena, real-time strategy, shooters, racing, puzzlers and party games, survival horror and other genres. In 2023, the action-adventure segment is expected to account for the largest share of the global online gaming market. The large market share of this segment is attributed to technologies like VR and AR to improve the gaming experience. However, the shooters segment is projected to register the highest CAGR during the forecast period.

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Based on revenue stream, the global online gaming market is segmented into advertisements & sponsorships, game publisher fees, media & broadcasting rights, ticket sales and merchandise sales. In 2023, the advertisement & sponsorships segment is expected to account for the largest share of the global online gaming market. The large market share of this segment is mainly attributed to the rising number of video gamers, increasing collaborations between game publishers and advertisers, and increasing engagement in digital products since the COVID-19 pandemic. However, the game publisher fees segment is expected to register the highest CAGR during the forecast period.

Based on platform, the global online gaming market is segmented into mobile platforms, PCs, consoles, and other platforms. In 2023, the mobile platforms segment is expected to account for the largest share of the global online gaming market. The growth of this segment is attributed to the rising mobile user base, ease of access, and growing penetration of smartphones. The increasing monetization in the gaming industry through advertisements posted on smartphone games contributes to the industry's growth. Many tech companies are focusing on developing games specific to smartphones due to the increasing user base across all age groups.

One of the determinants of success for leading market players in mobile gaming is understanding the user's choices, such as preferred game type, gameplay duration, the gender of the player, and demography. This data can be easily captured from mobile login details and used to improve user experience by suggesting relevant ads and games. These factors are expected to drive the growth of the mobile platforms segment during the forecast period.

Based on streaming, the global online gaming market is segmented into live streaming and on-demand streaming. In 2023, the live streaming segment is expected to account for the larger share of the global online gaming market. The large market share of this segment is attributed to the rising popularity of live-streaming technology for better brand engagement and reach to consumers and the growing popularity of e-sports and video games. However, the on-demand streaming segment is slated to register the highest CAGR during the forecast period.

Based on geography, the global online gaming market is segmented into North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. In 2023, Asia-Pacific is expected to account for the largest share of the global online gaming market. Asia-Pacific is the fastest-growing gaming region globally, offering endless opportunities to game developers, marketers, and strategists. Aside from its enormous user base spanning all age groups, the region is home to various established industry players and is a hub for innovation and new trends. The increasing number of smartphone users in Asia-Pacific has resulted in the growth of the mobile gaming market. The increased accessibility offered by smartphones is expected to contribute significantly to the growth of this regional market during the forecast period.

Some of the key players operating in the global online gaming market are Microsoft Corporation (U.S.), Activision Blizzard, Inc. (U.S.), Apple Inc. (U.S.), Electronic Arts Inc. (U.S.), Nintendo Co., Ltd. (Japan), Capcom Co., Ltd. (Japan), SEGA (U.S.), Rovio Entertainment Corporation (Finland), GungHo Online Entertainment (Japan), Ubisoft Entertainment (Japan), Sony Interactive Entertainment Inc. (Japan), SQUARE ENIX HOLDINGS CO., LTD. (Japan), Gameloft (France), iTechArt (U.S.), Amazon.Com, Inc. (U.S.), and Tencent Holdings Ltd. (China).

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Scope of the report:

Online Gaming Market, by Model               

• Free-to-play Games
• Pay-to-play Games

Online Gaming Market, by Genre

• Action/Adventure
• Sandbox
• Simulation and Sports
• Role-playing
• Player VS. Player
• Multiplayer Online Battle Arena
• Real-time Strategy
• Shooters
• Racing
• Puzzlers and Party Games
• Survival Horror
• Other Genres

Online Gaming Market, by Revenue Stream

• Advertisements & Sponsorships
• Game Publisher Fees
• Media & Broadcasting Rights
• Ticket Sales
• Merchandise Sales

Online Gaming Market, by Platform

• Mobile Platforms
• Tablet Games
• Smartphone Games
• PCs
• Browser PC Games
• Boxed/Downloadable PC Games
• Consoles
• Other Platforms

Online Gaming Market, by Streaming        

• Live Streaming
• On-demand streaming

Online Gaming Market, by Geography

• North America
• U.S.
• Canada
• Europe
• U.K.
• Germany
• France
• Italy
• Spain
• Netherlands
• Denmark
• Rest of Europe
• Asia-Pacific
• China
• Japan
• India
• Singapore
• Malaysia
• South Korea
• Taiwan
• Thailand
• Vietnam
• Philippines
• Rest of Asia-Pacific
• Latin America
• Middle East & Africa

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Related Report:

Live Streaming Market- Global Opportunity Analysis and Industry Forecast (2021-2028)

https://www.meticulousresearch.com/product/live-streaming-market-5225

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