12 May 2023

Global gaming market expected to reach '366 billion in 2027

The global gaming market is expected to grow from €209 billion in 2022 to €230 billion in 2023 at a compound annual growth rate (CAGR) of 9.9%, according to a report by ResearchAndMarkets.com

The report indicates that the gaming market is expected to grow to €366 billion in 2027 at a CAGR of 12.3%. The increasing proliferation of mobile phones is expected to propel the growth of the market going forward.

The main types of gaming are action, shooter, role-playing, sports, and other game types. Action is used for any game in which the player overcomes obstacles using physical techniques such as precision aim and rapid reaction times. These games can be played with various devices such as consoles, mobile, and computers and can be purchased by box/CD game purchase, in-app purchase, shareware, freeware, and others through online, and offline platforms.

Technological advancement is a key trend in the gaming market. Major market players are utilising cutting-edge technologies to maintain their place in the industry. For instance, in September 2020, Sony Interactive Entertainment LLC, a Japanese-based video game and digital entertainment company, launched PlayStation 5, a highly anticipated next-generation gaming system.

Asia-Pacific was the largest region in the gaming market in 2022. The regions covered in the report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa. While the countries covered in the report include Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, and the USA.

The gaming market research report provides a complete perspective of everything one needs to know, with an in-depth analysis of the current and future scenario of the industry. The report delivers market statistics, including the industry’s global market size, regional shares, competitors with a market share, detailed market segments, market trends and opportunities, and any further data one may need to thrive in the industry.

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