Published on: November 22, 2019
The global gaming market size is forecasted to grow at a CAGR of 9.56% between 2023 and 2028. The market is propelled in part by the burgeoning adoption of augmented reality (AR) and virtual reality (VR) games, catering to a diverse audience. The surge in esports popularity further fuels market expansion, with competitive gaming becoming a mainstream entertainment choice. As technology continues to evolve, the gaming sector stands at the forefront of entertainment, offering immersive experiences and driving unprecedented growth opportunities.
The gaming market is a dynamic industry driven by online gaming, technological advancements, and the proliferation of gaming devices. With the increasing penetration of smartphones and high-bandwidth network connectivity, the market is experiencing significant growth and evolution. Gaming devices include consoles, VR headsets, and gaming laptops, as well as PCs and mobile devices.
Trends in the gaming market include the rise of online gaming, the adoption of advanced gaming products and services, and the emergence of realistic graphics and AI features. AR and VR technologies are transforming gaming experiences, while esports tournaments are gaining traction among skilled gamers.
Key drivers of the gaming market include the penetration of smartphones, the accessibility of gaming devices, and the cultural acceptance of gaming as a mainstream form of entertainment. Technological advancements such as 5G networks and cloud gaming further drive market growth and connectivity.
Challenges facing the gaming market include competition from other entertainment industries, the need for continuous innovation in game development and design, and issues related to user experience and game monetization. Ensuring cross-platform play and addressing concerns over game addiction are also ongoing challenges.
Opportunities in the gaming market include the expansion of esports tournaments, the development of immersive narratives and captivating worlds, and the growth of mobile gaming and indie games. Market players can leverage trends in digital distribution platforms, game streaming, and community engagement to capitalize on market opportunities.
APAC is projected to account for 53% of the global market’s growth by 2028. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market. APAC is considered a primary region for pro gamers. The prevalence of esports in countries such as Taiwan, Malaysia, and Singapore will contribute to the growth of the market in APAC during the forecast period. Major digital gaming companies operating in the region include China-based Tencent and GungHo Online Entertainment. In addition, many hardware suppliers, including Sony and Nintendo, are based in Japan.
Technavio's gaming industry reports monitor the leading players in the global market along with their current and forecasted market share. Our analysis covers regional and global companies. Some of the top companies covered in our gaming market reports include:
In order to provide you with a comprehensive view of the gaming industry, our experts analyze the market from many different perspectives. Our reports help identify opportunities, risks, key competitors, and more, helping you make timely, informed decisions to optimize your position in the market.
Technavio reports insights include:
Develop a deeper understanding of the gaming market with Technavio’s comprehensive market research reports. We provide the latest information on key industry dynamics, including global and regional market forecasts, internal and external pressure points, the vendor landscape, and more.
Our in-depth knowledge of the gaming market is built on decades of experience and a global network of industry experts. We know the importance of having a strong foundation on which to base important decisions, and with over 500 analysts located around the world, we deliver actionable insights for every segment of the market.
Technavio’s market research reports provide an analysis of current trends and how they are affecting the market. We also identify market drivers and challenges to help you discover opportunities and avoid pitfalls.
Every Technavio report includes detailed segmentation insights, breaking down the market in terms of product type, geography, sales channels, and more. And if you’re looking for something a little more specific, our Custom Research Solutions can tailor any report to meet your unique needs.
We provide detailed profiles on the biggest competitors in the market, including data such as business divisions, product offerings, and news. Our reports also include an overview of the competitive landscape as a whole, including the risks and opportunities that it presents.
LinkedIn
Facebook 
Twitter
Email
Reddit
Tumblr
Quora
Pinterest
WhatsApp