Video Game Market size to grow by USD 89.38 billion from 2022 to 2027, Rising penetration of smartphones and improving internet access to influence market growth - Technavio

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!

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 size
• Video Game Market trends
• Video Game Market industry analysis
• Video Game Market five forces analysis
• Video Game Market competitive landscape

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.

• Platform 
• Mobile Devices
• Consoles
• Computing Devices
• Type 
• Offline
• Online
• Geography 
• APAC
• North America
• Europe
• South America
• Middle East And Africa

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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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

• Activision Blizzard Inc. - The company offers video games under the brand ACTIVISION, BLIZZARD.
• Alphabet Inc. - The company offers video games such as Blade Idle, Bricks Breaker Quest, Open House.
• Apple Inc. - The company offers video games such as Jetpack Joyride 2, Wylde Flowers, Nickelodeon extreme Tennis.

Video Game Market 2023-2027: Key Highlights

• CAGR of the market during the forecast period 2023-2027
• Detailed information on factors that will assist video game market growth during the next five years
• Estimation of the video game market size and its contribution to the parent market
• Predictions on upcoming trends and changes in consumer behavior
• The growth of the video game market
• Analysis of the market's competitive landscape and detailed information on vendors
• Comprehensive details of factors that will challenge the growth of video game market vendors

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Related Reports:
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.

Table Of Contents :

1 Executive Summary

• 1.1 Market overview 
• Exhibit 01: Executive Summary – Chart on Market Overview
• Exhibit 02: Executive Summary – Data Table on Market Overview
• Exhibit 03: Executive Summary – Chart on Global Market Characteristics
• Exhibit 04: Executive Summary – Chart on Market by Geography
• Exhibit 05: Executive Summary – Chart on Market Segmentation by Platform
• Exhibit 06: Executive Summary – Chart on Market Segmentation by Type
• Exhibit 07: Executive Summary – Chart on Incremental Growth
• Exhibit 08: Executive Summary – Data Table on Incremental Growth
• Exhibit 09: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

• 2.1 Market ecosystem 
• Exhibit 10: Parent market
• Exhibit 11: Market Characteristics

3 Market Sizing

• 3.1 Market definition 
• Exhibit 12: Offerings of vendors included in the market definition

• 3.2 Market segment analysis 
• Exhibit 13: Market segments

• 3.3 Market size 2022 

• 3.4 Market outlook: Forecast for 2022-2027
• Exhibit 14: Chart on Global - Market size and forecast 2022-2027 ($ billion)
• Exhibit 15: Data Table on Global - Market size and forecast 2022-2027 ($ billion)
• Exhibit 16: Chart on Global Market: Year-over-year growth 2022-2027 (%)
• Exhibit 17: Data Table on Global Market: Year-over-year growth 2022-2027 (%)

4 Historic Market Size

• 4.1 Global video game market 2017 - 2021
• Exhibit 18: Historic Market Size – Data Table on Global video game market 2017 - 2021 ($ billion)

• 4.2 Platform Segment Analysis 2017 - 2021
• Exhibit 19: Historic Market Size – Platform Segment 2017 - 2021 ($ billion)

• 4.3 Type Segment Analysis 2017 - 2021 
• Exhibit 20: Historic Market Size – Type Segment 2017 - 2021 ($ billion)

• 4.4 Geography Segment Analysis 2017 - 2021
• Exhibit 21: Historic Market Size – Geography Segment 2017 - 2021 ($ billion)

• 4.5 Country Segment Analysis 2017 - 2021
• Exhibit 22: Historic Market Size – Country Segment 2017 - 2021 ($ billion)

5 Five Forces Analysis

• 5.1 Five forces summary 
• Exhibit 23: Five forces analysis - Comparison between 2022 and 2027

• 5.2 Bargaining power of buyers 
• Exhibit 24: Chart on Bargaining power of buyers – Impact of key factors 2022 and 2027

• 5.3 Bargaining power of suppliers 
• Exhibit 25: Bargaining power of suppliers – Impact of key factors in 2022 and 2027

• 5.4 Threat of new entrants 
• Exhibit 26: Threat of new entrants – Impact of key factors in 2022 and 2027

• 5.5 Threat of substitutes 
• Exhibit 27: Threat of substitutes – Impact of key factors in 2022 and 2027

• 5.6 Threat of rivalry 
• Exhibit 28: Threat of rivalry – Impact of key factors in 2022 and 2027

• 5.7 Market condition 
• Exhibit 29: Chart on Market condition - Five forces 2022 and 2027

6 Market Segmentation by Platform

• 6.1 Market segments 
• Exhibit 30: Chart on Platform - Market share 2022-2027 (%)
• Exhibit 31: Data Table on Platform - Market share 2022-2027 (%)

• 6.2 Comparison by Platform 
• Exhibit 32: Chart on Comparison by Platform
• Exhibit 33: Data Table on Comparison by Platform

• 6.3 Mobile devices - Market size and forecast 2022-2027
• Exhibit 34: Chart on Mobile devices - Market size and forecast 2022-2027 ($ billion)
• Exhibit 35: Data Table on Mobile devices - Market size and forecast 2022-2027 ($ billion)
• Exhibit 36: Chart on Mobile devices - Year-over-year growth 2022-2027 (%)
• Exhibit 37: Data Table on Mobile devices - Year-over-year growth 2022-2027 (%)

• 6.4 Consoles - Market size and forecast 2022-2027
• Exhibit 38: Chart on Consoles - Market size and forecast 2022-2027 ($ billion)
• Exhibit 39: Data Table on Consoles - Market size and forecast 2022-2027 ($ billion)
• Exhibit 40: Chart on Consoles - Year-over-year growth 2022-2027 (%)
• Exhibit 41: Data Table on Consoles - Year-over-year growth 2022-2027 (%)

• 6.5 Computing devices - Market size and forecast 2022-2027 
• Exhibit 42: Chart on Computing devices - Market size and forecast 2022-2027 ($ billion)
• Exhibit 43: Data Table on Computing devices - Market size and forecast 2022-2027 ($ billion)
• Exhibit 44: Chart on Computing devices - Year-over-year growth 2022-2027 (%)
• Exhibit 45: Data Table on Computing devices - Year-over-year growth 2022-2027 (%)

• 6.6 Market opportunity by Platform 
• Exhibit 46: Market opportunity by Platform ($ billion)
• Exhibit 47: Data Table on Market opportunity by Platform ($ billion)

7 Market Segmentation by Type

• 7.1 Market segments 
• Exhibit 48: Chart on Type - Market share 2022-2027 (%)
• Exhibit 49: Data Table on Type - Market share 2022-2027 (%)

• 7.2 Comparison by Type 
• Exhibit 50: Chart on Comparison by Type
• Exhibit 51: Data Table on Comparison by Type

• 7.3 Offline - Market size and forecast 2022-2027
• Exhibit 52: Chart on Offline - Market size and forecast 2022-2027 ($ billion)
• Exhibit 53: Data Table on Offline - Market size and forecast 2022-2027 ($ billion)
• Exhibit 54: Chart on Offline - Year-over-year growth 2022-2027 (%)
• Exhibit 55: Data Table on Offline - Year-over-year growth 2022-2027 (%)

• 7.4 Online - Market size and forecast 2022-2027
• Exhibit 56: Chart on Online - Market size and forecast 2022-2027 ($ billion)
• Exhibit 57: Data Table on Online - Market size and forecast 2022-2027 ($ billion)
• Exhibit 58: Chart on Online - Year-over-year growth 2022-2027 (%)
• Exhibit 59: Data Table on Online - Year-over-year growth 2022-2027 (%)

• 7.5 Market opportunity by Type 
• Exhibit 60: Market opportunity by Type ($ billion)
• Exhibit 61: Data Table on Market opportunity by Type ($ billion)

8 Customer Landscape

• 8.1 Customer landscape overview 
• Exhibit 62: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

9 Geographic Landscape

• 9.1 Geographic segmentation 
• Exhibit 63: Chart on Market share by geography 2022-2027 (%)
• Exhibit 64: Data Table on Market share by geography 2022-2027 (%)

• 9.2 Geographic comparison 
• Exhibit 65: Chart on Geographic comparison
• Exhibit 66: Data Table on Geographic comparison

• 9.3 APAC - Market size and forecast 2022-2027
• Exhibit 67: Chart on APAC - Market size and forecast 2022-2027 ($ billion)
• Exhibit 68: Data Table on APAC - Market size and forecast 2022-2027 ($ billion)
• Exhibit 69: Chart on APAC - Year-over-year growth 2022-2027 (%)
• Exhibit 70: Data Table on APAC - Year-over-year growth 2022-2027 (%)

• 9.4 North America - Market size and forecast 2022-2027
• Exhibit 71: Chart on North America - Market size and forecast 2022-2027 ($ billion)
• Exhibit 72: Data Table on North America - Market size and forecast 2022-2027 ($ billion)
• Exhibit 73: Chart on North America - Year-over-year growth 2022-2027 (%)
• Exhibit 74: Data Table on North America - Year-over-year growth 2022-2027 (%)

• 9.5 Europe - Market size and forecast 2022-2027
• Exhibit 75: Chart on Europe - Market size and forecast 2022-2027 ($ billion)
• Exhibit 76: Data Table on Europe - Market size and forecast 2022-2027 ($ billion)
• Exhibit 77: Chart on Europe - Year-over-year growth 2022-2027 (%)
• Exhibit 78: Data Table on Europe - Year-over-year growth 2022-2027 (%)

• 9.6 South America - Market size and forecast 2022-2027
• Exhibit 79: Chart on South America - Market size and forecast 2022-2027 ($ billion)
• Exhibit 80: Data Table on South America - Market size and forecast 2022-2027 ($ billion)
• Exhibit 81: Chart on South America - Year-over-year growth 2022-2027 (%)
• Exhibit 82: Data Table on South America - Year-over-year growth 2022-2027 (%)

• 9.7 Middle East and Africa - Market size and forecast 2022-2027 
• Exhibit 83: Chart on Middle East and Africa - Market size and forecast 2022-2027 ($ billion)
• Exhibit 84: Data Table on Middle East and Africa - Market size and forecast 2022-2027 ($ billion)
• Exhibit 85: Chart on Middle East and Africa - Year-over-year growth 2022-2027 (%)
• Exhibit 86: Data Table on Middle East and Africa - Year-over-year growth 2022-2027 (%)

• 9.8 US - Market size and forecast 2022-2027
• Exhibit 87: Chart on US - Market size and forecast 2022-2027 ($ billion)
• Exhibit 88: Data Table on US - Market size and forecast 2022-2027 ($ billion)
• Exhibit 89: Chart on US - Year-over-year growth 2022-2027 (%)
• Exhibit 90: Data Table on US - Year-over-year growth 2022-2027 (%)

• 9.9 China - Market size and forecast 2022-2027
• Exhibit 91: Chart on China - Market size and forecast 2022-2027 ($ billion)
• Exhibit 92: Data Table on China - Market size and forecast 2022-2027 ($ billion)
• Exhibit 93: Chart on China - Year-over-year growth 2022-2027 (%)
• Exhibit 94: Data Table on China - Year-over-year growth 2022-2027 (%)

• 9.10 South Korea - Market size and forecast 2022-2027
• Exhibit 95: Chart on South Korea - Market size and forecast 2022-2027 ($ billion)
• Exhibit 96: Data Table on South Korea - Market size and forecast 2022-2027 ($ billion)
• Exhibit 97: Chart on South Korea - Year-over-year growth 2022-2027 (%)
• Exhibit 98: Data Table on South Korea - Year-over-year growth 2022-2027 (%)

• 9.11 Germany - Market size and forecast 2022-2027
• Exhibit 99: Chart on Germany - Market size and forecast 2022-2027 ($ billion)
• Exhibit 100: Data Table on Germany - Market size and forecast 2022-2027 ($ billion)
• Exhibit 101: Chart on Germany - Year-over-year growth 2022-2027 (%)
• Exhibit 102: Data Table on Germany - Year-over-year growth 2022-2027 (%)

• 9.12 Japan - Market size and forecast 2022-2027
• Exhibit 103: Chart on Japan - Market size and forecast 2022-2027 ($ billion)
• Exhibit 104: Data Table on Japan - Market size and forecast 2022-2027 ($ billion)
• Exhibit 105: Chart on Japan - Year-over-year growth 2022-2027 (%)
• Exhibit 106: Data Table on Japan - Year-over-year growth 2022-2027 (%)

• 9.13 Market opportunity by geography 
• Exhibit 107: Market opportunity by geography ($ billion)
• Exhibit 108: Data Tables on Market opportunity by geography ($ billion)

10 Drivers, Challenges, and Trends

• 10.1 Market drivers 

• 10.2 Market challenges 

• 10.3 Impact of drivers and challenges 
• Exhibit 109: Impact of drivers and challenges in 2022 and 2027

• 10.4 Market trends 

11 Vendor Landscape

• 11.1 Overview 

• 11.2 Vendor landscape 
• Exhibit 110: Overview on Criticality of inputs and Factors of differentiation

• 11.3 Landscape disruption 
• Exhibit 111: Overview on factors of disruption

• 11.4 Industry risks 
• Exhibit 112: Impact of key risks on business

12 Vendor Analysis

• 12.1 Vendors covered 
• Exhibit 113: Vendors covered

• 12.2 Market positioning of vendors 
• Exhibit 114: Matrix on vendor position and classification

• 12.3 Activision Blizzard Inc. 
• Exhibit 115: Activision Blizzard Inc. - Overview
• Exhibit 116: Activision Blizzard Inc. - Business segments
• Exhibit 117: Activision Blizzard Inc. - Key news
• Exhibit 118: Activision Blizzard Inc. - Key offerings
• Exhibit 119: Activision Blizzard Inc. - Segment focus

• 12.4 Alphabet Inc. 
• Exhibit 120: Alphabet Inc. - Overview
• Exhibit 121: Alphabet Inc. - Business segments
• Exhibit 122: Alphabet Inc. - Key news
• Exhibit 123: Alphabet Inc. - Key offerings
• Exhibit 124: Alphabet Inc. - Segment focus

• 12.5 Apple Inc. 
• Exhibit 125: Apple Inc. - Overview
• Exhibit 126: Apple Inc. - Business segments
• Exhibit 127: Apple Inc. - Key news
• Exhibit 128: Apple Inc. - Key offerings
• Exhibit 129: Apple Inc. - Segment focus

• 12.6 Aristocrat Leisure Ltd. 
• Exhibit 130: Aristocrat Leisure Ltd. - Overview
• Exhibit 131: Aristocrat Leisure Ltd. - Business segments
• Exhibit 132: Aristocrat Leisure Ltd. - Key offerings
• Exhibit 133: Aristocrat Leisure Ltd. - Segment focus

• 12.7 Bandai Namco Holdings Inc. 
• Exhibit 134: Bandai Namco Holdings Inc. - Overview
• Exhibit 135: Bandai Namco Holdings Inc. - Business segments
• Exhibit 136: Bandai Namco Holdings Inc. - Key offerings
• Exhibit 137: Bandai Namco Holdings Inc. - Segment focus

• 12.8 Electronic Arts Inc. 
• Exhibit 138: Electronic Arts Inc. - Overview
• Exhibit 139: Electronic Arts Inc. - Product / Service
• Exhibit 140: Electronic Arts Inc. - Key offerings

• 12.9 Enad Global 7 AB 
• Exhibit 141: Enad Global 7 AB - Overview
• Exhibit 142: Enad Global 7 AB - Business segments
• Exhibit 143: Enad Global 7 AB - Key offerings
• Exhibit 144: Enad Global 7 AB - Segment focus

• 12.10 Epic Games Inc. 
• Exhibit 145: Epic Games Inc. - Overview
• Exhibit 146: Epic Games Inc. - Product / Service
• Exhibit 147: Epic Games Inc. - Key offerings

• 12.11 Microsoft Corp. 
• Exhibit 148: Microsoft Corp. - Overview
• Exhibit 149: Microsoft Corp. - Business segments
• Exhibit 150: Microsoft Corp. - Key news
• Exhibit 151: Microsoft Corp. - Key offerings
• Exhibit 152: Microsoft Corp. - Segment focus

• 12.12 NetEase Inc. 
• Exhibit 153: NetEase Inc. - Overview
• Exhibit 154: NetEase Inc. - Business segments
• Exhibit 155: NetEase Inc. - Key offerings
• Exhibit 156: NetEase Inc. - Segment focus

• 12.13 Nintendo Co. Ltd. 
• Exhibit 157: Nintendo Co. Ltd. - Overview
• Exhibit 158: Nintendo Co. Ltd. - Product / Service
• Exhibit 159: Nintendo Co. Ltd. - Key offerings

• 12.14 SEGA SAMMY CREATION INC. 
• Exhibit 160: SEGA SAMMY CREATION INC. - Overview
• Exhibit 161: SEGA SAMMY CREATION INC. - Product / Service
• Exhibit 162: SEGA SAMMY CREATION INC. - Key offerings

• 12.15 Sony Group Corp. 
• Exhibit 163: Sony Group Corp. - Overview
• Exhibit 164: Sony Group Corp. - Business segments
• Exhibit 165: Sony Group Corp. - Key news
• Exhibit 166: Sony Group Corp. - Key offerings
• Exhibit 167: Sony Group Corp. - Segment focus

• 12.16 Take Two Interactive Software Inc.
• Exhibit 168: Take Two Interactive Software Inc. - Overview
• Exhibit 169: Take Two Interactive Software Inc. - Product / Service
• Exhibit 170: Take Two Interactive Software Inc. - Key offerings

• 12.17 Tencent Holdings Ltd. 
• Exhibit 171: Tencent Holdings Ltd. - Overview
• Exhibit 172: Tencent Holdings Ltd. - Business segments
• Exhibit 173: Tencent Holdings Ltd. - Key offerings
• Exhibit 174: Tencent Holdings Ltd. - Segment focus

13 Appendix

• 13.1 Scope of the report 

• 13.2 Inclusions and exclusions checklist
• Exhibit 175: Inclusions checklist
• Exhibit 176: Exclusions checklist

• 13.3 Currency conversion rates for US$ 
• Exhibit 177: Currency conversion rates for US$

• 13.4 Research methodology 
• Exhibit 178: Research methodology
• Exhibit 179: Validation techniques employed for market sizing
• Exhibit 180: Information sources

• 13.5 List of abbreviations 
• Exhibit 181: List of abbreviations

Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Technavio Research
Jesse Maida
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