Online Gaming Market Report by Type (Action, Adventure, Puzzle, Arcade, and Others), Platform (Mobile Phone, PCs, Console, and Others), Gamer Type (Social Gamers, Serious Gamers, and Core Gamers), Age Group (Below 10 Years, 11-24 Years, 25-44 Years, and 45 and Above Years), Region and Company Analysis 2024-2032

Global Online Gaming Market Analysis

Global Online Gaming Market was priced at US$ 137.60 Billion in 2023. It is expected to grow at a CAGR of 10.89% from 2024 to 2032. Renub Research predicts the value to be US$ 348.85 Billion by 2032.

Online games are played either solo or with others over the internet. They are often played in real time. Various genres are covered in it. Advancing technology, internet access, and esports drive online gaming popularity. The social factor of online gaming also fosters international connections and groups among gamers. This contributes to its considerable attraction. BankMyCell reported that in 2023, 41% of the global population, roughly 3.26 billion people, played games on various devices. The enthusiasts are expected to reach 3.32 billion by 2024.

Global Online Gaming Market Trends

• Escalating Utilization of Mobile Devices

Mobile device usage drives global online gaming market growth significantly. Counterpoint has predicted a six percent yearly growth in the global premium smartphone market sales for 2023. Premium smartphones are expected to secure 25% global market income and 60% of overall revenue. The growing penetration of smartphones and tablets internationally and advancements in mobile technology and internet connectivity have also democratized gaming. This accessibility has attracted a broader target market beyond traditional game enthusiasts.

• Rise in Dedicated Young Gaming Enthusiasts

The surge in devoted game enthusiasts, appreciably among minors, fuels the global online gaming market's enlargement. Uswitch says 91% of youngsters aged 3-15 play games on any device. Consoles lead among this age group (59%), followed by capsules (54%) and smartphones (53%). Video games benefit traction for amusement, especially amongst more youthful demographics. Technological advancements, massive gaming structures, and reachable high-speed internet drive this growth. Competitive activities like esports tournaments inspire passionate gaming, contributing to enormous market growth.

• Integrating 5G technology and 3D features into gaming

Combining 5G technology and 3D with gaming transforms the global online gaming market. Enhanced by 5G networks, gamers benefit from minimized latency and improved downloads. This allows smooth multiplayer experiences and immediate interactions. Meanwhile, progressions in 3D gaming produce charming visuals and practical simulations, increasing the horizons of gaming realism. Acer's launch of 3-D Ultra mode on SpatialLabs TrueGame in 2023 showcases this development, providing heightened stereo rendering and immersive imagery. This integration marks a significant shift in the gaming landscape, promising enriched experiences and pushing technological boundaries.
 

Adventure Gaming appears Positioned for expansion within the Online Gaming Market

Adventure gaming might be poised for quick growth in the global online gaming market. This is driven by immersive storytelling, enticing gameplay, and a growing demand for interactive experiences. Advancements in technology and connectivity cater to players searching for pleasure, exploration, and social interplay, boosting the genre's recognition. Tencent's December 2023 announcement of Last Sentinel, an open-world adventure set in dystopian Tokyo, showcases their bold foray into console gaming. This aims to fuel fan exhilaration and increase China's global gaming business enterprise.

China online gaming market

China holds a substantial stake in online gaming. This is benefited from its enormous populace. This demographic advantage is translated into a widespread online gaming market. China's sturdy emphasis on mobile gaming is similarly facilitated by plentiful access to affordable smartphones and reliable internet connectivity. This fosters the boom of mobile game developers and in-app purchases. Our research said that China had more than 1 Billion internet users in 2023. The internet penetration rate of the country was more than 70% of the whole population.

China excels in free-to-play games with engaging mechanics and monetization. This guarantees worldwide competitiveness. Adapting to local preferences and integrating social factors, this innovation reinforces China's leading role in the online gaming enterprise. Its reputation as an esports powerhouse additionally fosters a dynamic gaming subculture. For instance, in November 2023, Chengdu hosted the 'Chengdu 2023-2024 World Esports Competitions Launch', pronouncing vast events like the CrossFire Stars (CFS) 2023, Naraka Bladepoint World Championship (J Cup 2023), and the Honor of Kings World Champion Cup.

Global Online Gaming Company News

Activision Blizzard, Inc., Apple Inc., Capcom Co., Ltd., Electronic Arts Inc., Microsoft Corporation, Nintendo Co., Ltd., Sony Interactive Entertainment Inc., and Tencent Holdings Ltd. are the key participants in the global online gaming market.

• In April 2023 - Sony Interactive Entertainment LLC ("SIE") agreed to acquire Firewalk Studios as part of its initiative to usher in a new era of live gaming service experiences for PlayStation gamers. This move aligns with SIE's strategy of collaborating with top-tier development teams like Haven Interactive Studios and Bungie.
• In May 2023 - At its annual Spark conference, Tencent revealed over 30 video game updates and new projects amid rising competition in China. The event featured updates on 15 titles and introduced 20 new projects. 
• In July 2023 - Savvy Games Group ("Savvy"), a games and esports company wholly owned by Saudi Arabia's Public Investment Fund ("PIF"), finalized its acquisition of Scopely for US$ 4.9 Billion.
• In July 2023 - Tencent, the Chinese gaming behemoth, acquired a controlling interest in Techland, the Polish game developer responsible for the Dying Light series, for an undisclosed sum.
• In September 2023 - Apple Arcade is set to release four new games, including Cypher 007, Japanese Rural Life Adventure, Junkworld, and My Talking Angela 2+.
• In October 2023 - After receiving approval from the Competition and Markets Authority of the United Kingdom, Microsoft completed the acquisition of Activision Blizzard for US$ 69 Billion. This merger placed Microsoft among the top three gaming companies by revenue. It trails only Sony and Tencent in this aspect.

Type – Market breakup in 5 viewpoints:

1.    Action
2.    Adventure
3.    Puzzle
4.    Arcade
5.    Others

Platform – Market breakup in 4 viewpoints:

1.    Mobile Phone
2.    PCs
3.    Console
4.    Others

Gamer Type – Market breakup in 3 viewpoints:

1.    Social Gamers
2.    Serious Gamers
3.    Core Gamers

Age-group – Market breakup in 4 viewpoints:

1.    Below 10 Years
2.    11-24 Years
3.    25-44 Years
4.    45 and Above Years

Country – Market breakup of 25 Countries:

1.    North America

1.1    United States
1.2    Canada

2.    Europe

2.1    France
2.2    Germany
2.3    Italy
2.4    Spain
2.5    United Kingdom
2.6    Belgium
2.7    Netherlands
2.8    Turkey

3.    Asia Pacific

3.1    China
3.2    Japan
3.3    India
3.4    South Korea
3.5    Thailand
3.6    Malaysia
3.7    Indonesia
3.8    Australia
3.9    New Zealand

4.    Latin America

4.1    Brazil
4.2    Mexico
4.3    Argentina

5.    Middle East & Africa

5.1    Saudi Arabia
5.2    UAE
5.3    South Africa

All the Key players have been covered from 3 Viewpoints:

•    Overview
•    Recent Development
•    Revenue Analysis

Company Analysis:

1.    Activision Blizzard, Inc.
2.    Apple Inc.
3.    Capcom Co., Ltd.
4.    Electronic Arts Inc.
5.    Microsoft Corporation
6.    Nintendo Co., Ltd.
7.    Sony Interactive Entertainment Inc.
8.    Tencent Holdings Ltd.

Report Details: