Every industry has advanced dramatically as a result of technological advancements. The gaming industry is one such example. Few people are aware that this industry has grown to such proportions. It now generates more revenue than any other form of entertainment. But first, let’s take a look at some fascinating statistics and figures about the gaming industry in general to see how far it’s come.

Let’s take a look at the most recent data!

• By 2025, the global gaming market is expected to be worth $256.97 billion. This figure was around $151.55 billion in 2019. According to industry statistics, the gaming industry is expected to grow at a 9.17 percent annual rate from 2020 to 2025. ^[1]

• By 2024, the video game market is expected to generate sales of around $100.56 billion. According to reports, the video game industry generated $78.61 billion in revenue in 2017 and will exceed $90 billion by 2020. (Source: We PC)

• In 2020, the virtual reality market was worth $1.1 billion. If you’ve ever played a virtual reality game, you’ll agree that it’s unlike anything you’ve ever experienced before. Gamers prefer immersive gaming to traditional options because it is more enjoyable. VR headsets were sold around 6.4 million units in 2020. With so many people getting into VR, it’s no surprise that spending on content is rising as well. (Source: Game Industry)

• In 2020, players spent $4.5 billion on immersive games. According to gaming industry statistics for 2021, immersive gaming, or VR gaming, is approximately 20 times more interesting and fascinating than traditional gaming methods. In 2020, one of the most well-known game studios, Valve, released Half Life: Alyx, a VR-only version of one of their most anticipated games ever. It went on to become one of the most popular PC games, receiving widespread praise. As a result, we can see that major corporations in the virtual reality gaming space are rapidly progressing into the future of virtual games, much faster than many people expect. (Source: Business Wire)

• Online gambling is expected to become more immersive in the future. Gambling is a popular pastime for millions of people. According to statistics on the gaming industry’s future, 3D games, virtual reality casinos, and live dealers, among other things, will be introduced soon. Users will be able to experience online gambling as if they were in a real-life casino in Las Vegas, thanks to the use of virtual reality headsets. (Source: Read Dive)

• Gaming revenue in Asia-Pacific is the highest in the world. According to gaming industry statistics, Asia-Pacific gaming revenue is expected to exceed $174 billion by 2021. According to reports, the Asian game market generated $72.2 billion in revenue in 2019. This is more than double the size of the gaming market in North America. (Source: Statista)

• The video game market in China is the largest in the world. China ranked first among the world’s largest gaming markets in 2022, according to industry statistics. It had a revenue of 40.8 billion dollars at the end of the year. The United States was close behind, coming in second with annual revenues of 36.92 billion dollars. (Source: Statista)

• According to industry forecasts, mobile game revenue will surpass $100 billion by 2023. Mobile games accounted for nearly half of all video game revenue in 2021, and the trend doesn’t appear to be slowing down anytime soon. On a global scale, mobile penetration rates and smartphone gaming usage continue to rise. As a result, mobile gaming is a massive segment of the gaming industry that will only continue to grow. One of the examples of this where mobile gaming studios impact comes in this piece of following development; Take-Two, recently acquired Zynga in a $12.7B deal. Take-Two, for example, recently acquired Zynga. Take-Two is known for console and PC games, and it also publishes Red Dead Redemption, Midnight Club, NBA 2K, BioShock, and other titles, while Zynga was largely responsible for the mobile gaming genre. (Source: Statista, TechCrunch)

• Razer has announced a $7.2 million investment in Singapore’s gaming market. Razer is known for its gaming peripherals and accessories. According to reports, the eSports company is very interested in the expansion of the Singapore gaming market. Razer is looking to underwrite gaming companies and eSport teams based in the country in order to boost the gaming niche in the country. (Source: Business Wire)

• The gaming industry was predicted to generate $179.7 billion in 2020. Many suffered due to COVID-19. The gaming industry was not one of them. The video game industry revenue grew so much during the pandemic, that experts predicted a $179.7 billion revenue by the end of 2020. But the reality was a bit different. (Source: Business Insider, Marketplace)

• According to industry forecasts, the video game industry will generate $295.63 billion in revenue by 2026. The video game market is expected to generate $162.32 billion in revenue by the end of 2020. However, this expansion is expected to continue in the coming years. (Source: Mordor intelligence)

• In 2021, profits from video games are expected to reach $180.1 billion. Mobile gaming, as we all know, is now a huge part of the gaming world and industry. Their market share is expected to increase by 59%. PC games are expected to generate $32.3 billion in profits in 2021, according to reports analysing the gaming industry, and to account for 19% of the global games market. On the other hand, console games will account for 22% of the global games market. (Source: VentureBeat)

• The world of mobile gaming is ruled by casual and hyper-casual games. The latest crazes include puzzles, arcades, simulations, lifestyle, and bingo-style games. The puzzle game fan club comprises the majority of smartphone owners. In 2020, it earned more than $5.1 billion, up 29% from the previous year. In addition, puzzle games accounted for just over half of all casual game revenue in 2020. (Source: GameSpace, Deconstructor of Fun)

• The gaming industry has changed dramatically as a result of technological advancements. Gaming Engines are the software frameworks upon which all games are built. As technology advances, we are seeing an increase in the development of hyper-realistic graphics. For example, Lorenzo Drago, an environment and prop artist, recently created perhaps the most convincing Unreal Engine 5 environmental demo based on a Japanese train station. Check out the video and images below for a demonstration. Keep in mind that these aren’t real people, but rather created and developed in a game engine!

• Mobile games with high fidelity are becoming more popular. Many game developers are becoming increasingly interested in creating ultra-realistic graphics. In Western countries, high-fidelity games accounted for about 5% to 10% of the top mobile games in 2016.(Source: Compare Camp)
  
• A total of 456 million people are expected to watch esports around the world. Nowadays, venues are unable to accommodate everyone who wishes to attend these e-sports leagues. In the future, the Overwatch and League of Legends leagues are expected to have their own venues built. Even now, new esports arenas are being built: the LCK Esports Stadium in Seoul, the arena at Full Sail University in Florida, and one in Richmond, Canada. (Source: Newzoo)

• In 2024, esports revenues are expected to reach $1.61 billion. The esports market was worth $694.2 million in 2017. Esports had a net revenue of $947.1 million at the end of 2020. In 2021, it was around $1.084 billion, and by 2024, it will be over $1.60 billion. The incredible year-over-year growth rate in this industry can already be seen. The fact that money is flowing into the esports industry from advertising, sponsorships, and media rights accounts for this impressive figure. We’re talking about a lot of money spent on a brand. Revenue numbers are expected to reach who knows what heights as the video game industry grows in size. (Source: Statista)

• In the year 2021, Activision Blizzard was the largest video game company. Its market capitalization is now estimated to be $70.74 billion, up 25% from May 2020. That’s a sizable chunk of the gaming market. On January 18, 2022, Microsoft announced its intention to purchase Activision Blizzard for $68.7 billion. If approved, Activision Blizzard would merge with Microsoft Gaming, making Microsoft the third largest gaming company in the world. The company behind the Call of Duty series is Activision Blizzard. Nintendo is right behind it, with a market cap of US $64.73 billion as of March 2021. They are responsible for some of the most well-known video games, such as Animal Crossing and Mario Cart. With an estimated value of $37.43, EA is in third place. (Source: Statista)

• In 2020, there was a 60% increase in game playing among people aged 45 to 54. Because of the pandemic, the video game industry grew dramatically in 2019 and 2020. Although all demographics saw an increase in playtime, those aged 45 to 54 were the most surprising figure. Their increased playtime resulted in a 76% increase in spending. We can see from these figures that gaming is not restricted to a single demographic anymore. (Source: Business Insider)

• The rise of the spectator category and gaming becoming a spectator thing is one of the most fascinating developments in the industry as a result of global online streaming culture from Youtube/Twitch or other similar platforms. Spectators are expected to overtake players in video games. A new spectator market has emerged as the gaming industry has grown in size. Gaming is quickly becoming a spectator sport. People between the ages of 18 and 25 are more interested in watching gamers play in virtual spaces than in watching regular sports broadcasts, according to studies. The number of spectators is expected to surpass the number of gamers by 2022. This is due to the fact that video game trends indicate a 90% increase in the audience. (Source: Inc42)

Source:

• Mordor Intelligence
• Newzoo
• Venturebeat
• Business Insider
• GameIndustry
• TechCrunch
• Marketplace
• Statista
• Business Wire
• Compare Camp
• VentureBeat
• GameSpace
• Metro
• Statista
• Mordor Intelligence
• Inc42
• Statista
• Read Dive
• Game Industry
• Newzoo
• Statista
• Statista
• Deconstructor of Fun
• Business Insider

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