NEW YORK, May 15, 2023 /PRNewswire/ — Technavio has been monitoring the video game market, and it is expected to grow by USD 89.38 billion from 2022 to 2027. As per the latest report, the market will progress at a CAGR of 8.1% during the forecast period. This report aid business leaders with an up-to-date analysis that includes the study of the current market scenario, the latest trends and drivers that are likely to influence the market growth, and the overall market environment. The rise in strategic alliances and acquisitions is an emerging trend in the video game market growth. Collaboration among stakeholders, such as gaming solution providers, gaming content creators, and other gaming platform providers, enhances product offerings as well as promotes the distribution of games worldwide. Such factors will drive the growth of the global market during the forecast period. Click & get Latest Sample Report within minutes!
Video Game Market 2023-2027: Scope
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. Our video game market report covers the following areas:
Video Game Market 2023-2027: Market Dynamics
Drivers and Challenges
The rising penetration of smartphones and improving internet access are among the significant driving factors of the market growth. The proliferation of the mobile gaming industry is fueled by the increase in demand for smartphones in developing countries like China, India, and Mexico. This is due to the accessibility of reasonably priced smartphones. As more high-end smartphones become available, particularly in developing countries like China and India, the number of mobile gamers will also witness growth because when large-screen mobile devices with high display resolutions are used for gaming, the user experience is improved. Therefore, these factors will drive the growth of the global market during the forecast period.
The adverse health effects of gaming are major challenges that may hinder the market growth. Currently, gaming addiction is a widespread issue with people often becoming physically inactive due to this addiction. This over time, leaves them more susceptible to a number of health problems like carpal tunnel syndrome, headaches and migraines, and sleep problems. Moreover, students and young adults are more likely than not to develop chronic back pain because they sit for long periods of time while playing video games. Hence, such problems challenge the growth of the video game market during the forecast period.
Video Game Market 2023-2027: Segmentation
Video Game Market is segmented as below:
The market share growth by the mobile devices segment will be significant for overall market growth during the forecast period. As more consumers use their smartphones and tablets as their main gaming platforms, the mobile devices segment accounted for the largest share of the global market in 2022. It is also expected to grow further. In comparison to console or PC games, mobile games are typically simpler and smaller in scale, and they are made to be played in quick bursts. Therefore, they appeal to a wider demographic, which includes casual gamers looking for quick and simple entertainment on the go. Hence, such factors drive the segment growth during the forecast period.
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What’s New? –
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Special coverage on the Russia–Ukraine war; global inflation; recovery analysis from COVID-19; supply chain disruptions, global trade tensions; and risk of recession
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Global competitiveness and key competitor positions
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Market presence across multiple geographical footprints – Strong/Active/Niche/Trivial – Buy the report!
Video Game Market 2023-2027: Vendor Analysis
The market is fragmented, and the degree of fragmentation will accelerate during the forecast period. We provide a detailed analysis of around 25 vendors operating in the Video Game Market, including some of the vendors such as Activision Blizzard Inc., Alphabet Inc., Apple Inc., Aristocrat Leisure Ltd., Bandai Namco Holdings Inc., Capcom Co. Ltd., Electronic Arts Inc., Enad Global 7 AB, Epic Games Inc., Konami Group Corp., Krafton Inc., Microsoft Corp., NetEase Inc., Nintendo Co. Ltd., Playtika Holding Corp., Roblox Corp., SEGA SAMMY CREATION INC., Sony Group Corp., Take Two Interactive Software Inc., and Tencent Holdings Ltd. Backed with competitive intelligence and benchmarking, our research reports on the Video Game Market are designed to provide entry support, customer profile, and M&As as well as go-to-market strategy support.
Vendor Offerings
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Activision Blizzard Inc. – The company offers video games under the brand ACTIVISION, BLIZZARD.
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Alphabet Inc. – The company offers video games such as Blade Idle, Bricks Breaker Quest, Open House.
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Apple Inc. – The company offers video games such as Jetpack Joyride 2, Wylde Flowers, Nickelodeon extreme Tennis.
Video Game Market 2023-2027: Key Highlights
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CAGR of the market during the forecast period 2023-2027
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Detailed information on factors that will assist video game market growth during the next five years
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Estimation of the video game market size and its contribution to the parent market
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Predictions on upcoming trends and changes in consumer behavior
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The growth of the video game market
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Analysis of the market’s competitive landscape and detailed information on vendors
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Comprehensive details of factors that will challenge the growth of video game market vendors
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The in-game advertising market is estimated to grow at a CAGR of 13.25% between 2022 and 2027. The size of the market is forecast to increase by USD 5,182.68 million. This report extensively covers market segmentation by type (static ads, dynamic ads, and advergaming) and geography (North America, APAC, Europe, Middle East and Africa, and South America). The increase in the number of gamers and growing partnerships between advertisers and video game companies are notably driving the in-game advertising (IGA) market growth.
The game development software market is estimated to grow at a CAGR of 5.38% between 2022 and 2027. The size of the market is forecast to increase by USD 59.31 million. This report extensively covers market segmentation by component (game engine and audio engine), end-user (enterprises and individuals), and geography (North America, APAC, Europe, South America, and Middle East and Africa). The rising demand for PC gaming and gaming consoles is notably driving market growth.
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Video Game Market Scope |
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Report Coverage |
Details |
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Base year |
2022 |
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Historic period |
2017-2021 |
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Forecast period |
2023-2027 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 8.1% |
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Market growth 2023-2027 |
USD 89.38 billion |
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Market structure |
Fragmented |
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YoY growth 2022- 2023 (%) |
7.59 |
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Regional analysis |
APAC, North America, Europe, South America, and Middle East and Africa |
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Performing market contribution |
APAC at 49% |
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Key countries |
US, China, South Korea, Japan, and Germany |
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Competitive landscape |
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks |
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Key companies profiled |
Activision Blizzard Inc., Alphabet Inc., Apple Inc., Aristocrat Leisure Ltd., Bandai Namco Holdings Inc., Capcom Co. Ltd., Electronic Arts Inc., Enad Global 7 AB, Epic Games Inc., Konami Group Corp., Krafton Inc., Microsoft Corp., NetEase Inc., Nintendo Co. Ltd., Playtika Holding Corp., Roblox Corp., SEGA SAMMY CREATION INC., Sony Group Corp., Take Two Interactive Software Inc., and Tencent Holdings Ltd. |
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Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period |
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Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
Table Of Contents :
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Platform
7 Market Segmentation by Type
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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