🕹️Videogaming Market Overview

A video game is a digital version of games and/or sports played physically. They are usually played on digital devices such as smartphones, computers, and gaming consoles. Digital gaming or e-gaming is a billions of dollars industry that is around for many years and has witnessed exponential growth over the years. Currently, there are 3.1 billion people, who play video games. That is about 40% of the world population. A billion more than just five years ago. In 2020, the revenue from the worldwide PC gaming market was estimated at almost 37 billion U.S. dollars, while the mobile gaming market generated an estimated income of over 77 billion U.S. dollars. The gaming market was valued at USD 173.70 billion in 2021 and is expected to reach a value of USD 314.40 billion by 2027, registering a CAGR of 9.64% over 2022-2027.

What is significant nowadays is that the first generation of gamers is now grown up and has significant spending power at its disposal. Despite the high average daily time spent playing games among kids, the hobby can no longer be considered solely child’s play. It was found that video gaming is gaining popularity among parents across the world as well, with a fairly even split in terms of the gender distribution of video gaming parents worldwide. Thus, the gaming platforms are attracting hundreds and thousands of new players, and consequently, video gaming trends are experiencing a massive surge in players and revenue. With the increasing usage of smartphones, gaming consoles, and due to extra spending power the market shows high potential growth in the future.