The gaming industry is on a trajectory of substantial revenue growth, projected to reach over $222 billion by the end of 2023 and $583 billion by 2030. The market is also expected to attract between 3.7 and 3.9 billion players, with a market size of $305 billion by 2027. By 2023, the projected user penetration rate is 33%, increasing to 36% by 2027, with an average revenue per user (ARPU) of $88 in the video games segment. As of this year, the global gaming population stands at 3.2 billion players.
The mobile gaming segment accounts for the largest share of the market, with a projected market volume of $172.5 billion in 2023. The United States is expected to lead the global gaming market with $57 billion in revenue, followed closely by China, with Canada showing great strides as an upcoming country in the industry. However, while the number of players seeking to play for real money in Canadian online casinos keeps growing, caution is paramount, and safe gaming practices must be maintained. Players can consult gaming experts at https://www.maplecasino.ca/real-money/ to identify the best real-money casinos offering user-friendly services.
The gaming industry generates revenue through two primary sources: hardware and software. Hardware includes consoles, controllers, processors, and other accessories, while software refers to the games themselves. Developers in emerging economies are continually improving games by releasing and rewriting codes for various consoles, including Windows PC, PlayStation, and Xbox, to enhance the gaming experience.
In 2021, the pandemic led to an increase in non-gamers playing games, and existing gamers spent more time and money on gaming activities, leading to a gaming industry value of over $178 billion. China’s mobile gaming segment accounts for over 80% of the country’s gaming revenue, generating $41.24 billion and driving the market’s growth.
Tencent Holdings leads the industry with $8.3 billion in revenue, primarily due to the popularity of Player Unknown’s Battlegrounds (PubG) and Fortnite. Sony Corporation ranks second with $4.3 billion in revenue, known for its production of video game consoles under the PlayStation brand. Apple Inc secured the third spot with approximately $3.7 billion in revenue, mainly from charges for every transaction in its App Store. Microsoft Corporation followed with $3 billion in revenue, with its Xbox gaming brand’s content and services being the primary drivers of growth. NetEase rounded out the top five with almost $2.51 billion in revenue, with Identity V being the company’s most popular game with around 200,000 downloads worldwide in July 2022.
According to estimates, the United States is poised to be the world’s most extensive gaming market, generating $56.84 billion in revenue in 2023, followed by China, which is expected to generate $50.78 billion in revenue according to statistics. Regardless, China recorded the highest number of players globally, with 742.19 million players in 2022, compared to 197.16 million in the United States.
Japan ranks third in the global video game market, with expected revenue of $42 billion. It is also projected to grow at a 5.7% CAGR from 2023 to 2027, with a market volume of $52.5 billion by 2027. The country had around 78.1 million players in 2022.
In conclusion, the gaming industry’s growth is due to various factors, such as the widespread availability and accessibility of games and the increasing penetration of Internet services. With the global gaming population projected to grow steadily, the industry is set for an exciting future.
