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2023

Online Gaming Market

Online Gaming Market Size, Share, Competitive Landscape and Trend Analysis Report, by Type, by Platform, by Gamer Type : Global Opportunity Analysis and Industry Forecast, 2023-2032

CG : Entertainment Products

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Author's: Rohini Dnyandeo Kale | Surya Sanka
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Online Gaming Market Research, 2032

The global online gaming market size was valued at $85.9 billion in 2022, and is projected to reach $231.4 billion by 2032, growing at a CAGR of 11.1% from 2023 to 2032. Online games offer a huge amount of fun, enjoyment, teamwork, collaboration, and imaginative adventure for the players. Online games cover a wide range of game genres, catering to a wide range of player tastes and interests. Many online games use in-game chat, voice chat, or message tools to let players communicate and coordinate. Online gaming can range from simple virtual environments such as Minecraft to complex other realities such as World of Warcraft.

Online Gaming Market

Rising usage of mobile devices is one of the primary factors driving the growth of the online gaming business. As more powerful smartphones enter the market each year, mobile games become more sophisticated and engaging. This trend is expected to continue as creators produce increasingly more compelling mobile-optimized games. Esports is another aspect contributing to the expansion of online gaming industry. Professional gaming competitions have become extremely popular in recent years, with millions of viewers tuning in across the world. Esports are now recognized as a genuine form of entertainment, generating massive sponsorship deals and rich awards for champions. Therefore, many ambitious gamers have taken competitive gaming seriously, further driving the expansion of online gaming business.

The growing trend of online gaming, the emergence of high bandwidth network access, and the ongoing demand for 3D games are major factors driving the market revenue growth. Furthermore, the increased popularity of smartphones has made video games more accessible, portable, and social. The introduction of technologically improved and more powerful smartphones has driven industry growth even further. Market participants are also concentrating on creating improved gaming products and services in order to attract a larger consumer base, which is favorably benefiting the entire industry.

The increasing number of gamers who play video games passionately, particularly among minors, is frequently turned into an addiction. This interferes with their education and causes social anxiety. Therefore, such activities discourage parents from purchasing a gaming system for their children. According to a well-known addiction recovery firm named 'The Recovery Village' in April 2021, over 2 billion people globally play video games, with 1-10% of gamers suffering from obsessive addiction disorders. Furthermore, the fact that video game addiction can lead to mental health difficulties has led many parents to refrain from purchasing such products for their children. This is one of the major factors anticipated to hamper the online gaming market demand during the forecast period.

Online gaming industry is incorporating cutting-edge technologies into its main products, as crypto currency's global popularity grows. . Crypto gaming has grown in popularity because players gather and exchange virtual assets that are transferable and traded globally. It has become a safe and simple technique for the gaming business to generate revenue. According to research by Worldwide Asset Exchange, more than 75% of online gamers want to exchange their virtual assets for a money that can be used across many platforms. Non-fungible tokens (NFTs) have also changed the way people buy and own digital assets by converting them into unique units of data that are kept on the Blockchain. All these factors are predicted to create several growth opportunities for the key players operating in the market in the upcoming years.

The key players profiled in this report include Microsoft Corporation, Apple Inc., Sony Interactive Entertainment Inc., Activision Blizzard, Inc., Electronic Arts Inc., Nintendo Co., Ltd., Capcom Co., Ltd., SEGA, Tencent Holdings Ltd., and Rovio Entertainment Corporation. Investment and agreement are common strategies followed by major market players. For instance, in April 2023, an agreement has been made by Sony Interactive Entertainment LLC (SIE) to secure Firewalk Studios. The acquisition is part of SIE's efforts to introduce a new era of live gaming service experiences for PlayStation gamers, in collaboration with other top-tier development teams such as Haven Interactive Studios and Bungie.

The online gaming market is segmented on the basis of type, platform, gamer type, and region. By type, the market is divided into puzzle, action, adventure, arcade, sports, and others. By platform, the market is classified into mobile phone, pcs, consoles, and others. By gamer type, the market is classified into serious gamers, social gamers, and core gamers. By region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

The online gaming market is segmented into Type, Platform and Gamer Type.

Online Gaming Market by Type

By type, the adventure sub-segment dominated the market in 2022, owing to the presence of a dedicated fan base that has grown over time. Furthermore, because of their immersive gameplay and storylines, action and adventure games have a high level of engagement and replay value, which may keep players enthralled for hours. Furthermore, advances in advanced gaming technology, such as virtual reality (VR) and augmented reality (AR), have enabled more realistic and entertaining action and adventure games, which are likely to drive the segment expansion in the online gaming market growth during the forecast period.

Online Gaming Market by Platform

By platform, the mobile phone sub-segment dominated during the global online gaming market forecast period. Mobile gaming is the most popular platform, accounting for $68.5 billion in sales in 2019, accounting for 45% of the global market, which also includes PC and tablet gaming. Despite being a relatively new industry sector, mobile gaming has grown at an astounding rate, with 2.4 billion individuals playing mobile games in 2019. Mobiles offer an innovative and seamless user experience that relies on compelling features such as in-app purchases and loyalty benefits. With the rising implementation of 5G, these pocket-sized game consoles have the potential to change online gaming and make the business even more fascinating. All of these factors are expected to boost the expansion of the mobile phone sub-segment in the online gaming market.

Online Gaming Market by Gamer Type

By gamer type, the serious gamers sub-segment dominated the global online gaming market share in 2022. Social gamers value the social factor of gaming and frequently play games to connect with and interact with friends or other players. They may play multiplayer games, online communities, or social gaming experiences such as Minecraft or Among Us. Although social gamers do not have the same skill level as serious gamers, they do contribute to the broad appeal of multiplayer games. Online gaming, particularly for social gamers, has various benefits that improve the entire gaming experience. Social gamers can connect and communicate with friends and fellow gamers from all over the world through online gaming. It provides a platform for establishing and maintaining social connections even when players are physically separated.

Online Gaming Market by Region

By region, Asia-Pacific dominated the global online gaming market in 2022. Asia-Pacific  has the world's largest online gaming market, with China, South Korea, and Japan driving the majority of the regional market growth. Rising mobile gaming popularity, expanding esports sector, and rising disposable money among consumers are factors driving industry growth in this region. China, one of the largest mobile gaming markets in Asia-Pacific, has also expanded since the COVID-19 pandemic. The ability of mobile games to offer continuous fun via cloud-based and offline applications has completely transformed the gaming industry. Millions of people are expected to continue to be attracted toward mobile entertainment, particularly in developing countries in the region.

Key Benefits For Stakeholders

  • This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the online gaming market analysis from 2022 to 2032 to identify the prevailing online gaming market opportunities.
  • The market research is offered along with information related to key drivers, restraints, and opportunities.
  • Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
  • In-depth analysis of the online gaming market segmentation assists to determine the prevailing market opportunities.
  • Major countries in each region are mapped according to their revenue contribution to the global market.
  • Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
  • The report includes the analysis of the regional as well as global online gaming market trends, key players, market segments, application areas, and online gaming market strategies.

Online Gaming Market Report Highlights

Aspects Details
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Market Size By 2032

USD 231.4 billion

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Growth Rate

CAGR of 11.1%

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Forecast period

2022 - 2032

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Report Pages

280

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By Type
  • Action
  • Adventure
  • Arcade
  • Sports
  • Others
  • Puzzle
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By Platform
  • Mobile Phone
  • PCs
  • Consoles
  • Others
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By Gamer Type
  • Social Gamers
  • Serious Gamers
  • Core Gamers
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By Region
  • North America  (U.S., Canada, Mexico)
  • Europe  (Germany, UK, France, Spain, Italy, Rest of Europe)
  • Asia-Pacific  (China, Japan, India, South Korea, Australia, Rest of Asia-Pacific)
  • LAMEA  (Brazil, Saudi Arabia, United Arab Emirates, South Africa, Rest of LAMEA)
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Key Market Players

Microsoft Corporation, Apple Inc. (US), Nintendo Co., Ltd., Tencent Holdings Ltd., Activision Blizzard, Inc., Sega, Rovio Entertainment Corporation, Capcom Co., Ltd., Sony Interactive Entertainment Inc., Electronic Arts Inc.

Author Name(s) : Rohini Dnyandeo Kale | Surya Sanka
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Frequently Asked Questions?

The improvement of platforms for online streaming has indeed played a significant role in driving the online gaming market growth. Streaming platforms, both for gameplay and related content, have created a symbiotic relationship with the gaming industry, benefiting both players and content creators.

The major growth strategies adopted by online gaming market players are investment and agreement.

Asia-Pacific is projected to provide more business opportunities for the global online gaming market in the future.

Tencent Holdings Ltd., Microsoft Corporation, Apple Inc., Sony Interactive Entertainment Inc., Activision Blizzard, Inc., Electronic Arts Inc., Nintendo Co., Ltd., Capcom Co., Ltd., SEGA, and Rovio Entertainment Corporation are the major players in the online gaming market.

The adventure sub-segment of the type acquired the maximum share of the global online gaming market in 2022.

The report provides an extensive qualitative and quantitative analysis of the current trends and future estimations of the global online gaming market from 2022 to 2032 to determine the prevailing opportunities.

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Online Gaming Market

Global Opportunity Analysis and Industry Forecast, 2023-2032