Global online gaming market set to grow significantly by 2033, driven by various factors

From Globe Newswire: 2024-06-27 01:00:00

The global online gaming market is set to grow from USD 87.22 billion in 2023 to USD 229.85 billion by 2033, with a CAGR of 10.17%. Popular devices for online gaming include PCs, laptops, mobile phones, and gaming consoles like PlayStations and Xboxes. The rise of esports, increased internet access, and technological advancements are driving industry growth, with a shift towards mobile gaming due to the convenience of smartphones.

The Adventure segment is expected to dominate the online gaming market, driven by immersive experiences and engaging narratives. Mobile gaming is projected to grow the fastest, fueled by the global expansion of smartphones and the availability of a wide variety of games. Multiplayer gaming is anticipated to generate the largest revenue, benefiting from social gaming experiences and high-speed internet access.

Asia Pacific is projected to hold the largest share of the global online gaming market, driven by significant gaming culture, advanced infrastructures, and increased mobile gaming. North America is expected to grow rapidly, fueled by a strong gaming culture, innovative internet infrastructure, and high consumer spending on gaming technology. Major players in the market include Sony, Tencent Holdings, Microsoft, and Apple.

Recent developments in the market include Sony’s acquisition of Firewalk Studios to enhance live gaming services for PlayStation players. The market is segmented by type (Action, Adventure, Arcade, Sports, Puzzle), platform (PC, Console, Mobile), and player count (Single-Player, Multiplayer, MMO), with regional analysis covering North America, Europe, Asia Pacific, South America, Middle East, and Africa.



Read more at Globe Newswire: Global Online Gaming Market Size To Worth USD 229.85