Video Game Market: Trends, Opportunities and Competitive Analysis [2024-2030]

Video Game Market Trends and Forecast

The future of the global video game market looks promising with opportunities in the smartphone, tablet, PC, and console market. The global video game market is expected to reach an estimated $229.3 billion by 2030 with a CAGR of 4.4% from 2024 to 2030. The major drivers for this market are increasing growth of smartphones and easy availability of games on the internet.

Emerging Trends in the Video Game Market

Emerging trends, which have a direct impact on the dynamics of the industry, include development of augmented reality (AR) and virtual reality (VR) products such as head mounted displays (HMD) and head-up displays (HUD) and development of game based learning for academics and skill development.

A total of 111 figures / charts and 96 tables are provided in this 202-page report to help in your business decisions. Sample figures with insights are shown below.

Video Game Market by Segment

The study includes a forecast for the global video game market by device type, genre type, platform type, gamer type, age group, and region as follows:

By Device Type [$B shipment analysis from 2018 to 2030]:

• Smartphones
• Tablets
• PC
• Consoles
• Others (Gameboy, Handheld Device, Parlor Games)

By Genre [$B shipment analysis from 2018 to 2030]:

• Shooter
• Action
• Sports
• Role-Playing
• Adventure
• Racing
• Strategy
• Others (Casual Games, Party Games, Simulation Games)

By Platform Type [$B shipment analysis from 2018 to 2030]:

• Online
• Offline

By Gamer Type [$B shipment analysis from 2018 to 2030]:

• Extreme
• Casual

By Age Group [$B shipment analysis from 2018 to 2030]:

• Age 10-20
• Age 21-35
• Age 36-50
• Age 51-60

By Region [$B shipment analysis for 2018 to 2030]:

• North America
  • United States
  • Canada
  • Mexico
• Europe
  • Germany
  • Russia
  • United Kingdom
  • France
• Asia Pacific
  • Japan
  • China
  • South Korea
• The Rest of the World

List of Video Game Companies

Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies video game companies cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the video game companies profiled in this report includes.

• Sony
• Tencent
• Microsoft
• Netease
• Activation Blizzard
• Goggle
• Electronic Arts
• Nintendo
• Bandai Namco

Video Game Market Insight

• Lucintel forecasts that shooter game is expected to remain the largest segment due to increasing interest towards action packed video games across all age groups. The constantly developing graphics quality that delivers real
• life like mission along with a platform to have an ultimate gaming experience, is driving the market for shooter games.
• Smartphone will remain the largest and highest growing segment due to increasing smartphone user in emerging nations.
• Asia Pacific will remain the largest region and it is also expected to witness the highest growth over the forecast period due to significant improvement of broadband Internet in this region. Growing internet has enabled a steady rise in the online video game market, as it allow gamers to experience this well liked category of games with a high-speed internet connection.

Features of Video Game Market

• Market Size Estimates: Video game market size estimation in terms of value ($B)
• Trend and Forecast Analysis: Market trends (2018-2023) and forecast (2024-2030) by various segments and regions.
• Segmentation Analysis: Market size by various segments, such as device, genre, age group, platform type, gamer type in terms of value
• Regional Analysis: Video game market breakdown by North America, Europe, Asia Pacific, and the Rest of the World.
• Growth Opportunities: Analysis of growth opportunities in different device, genre, age group, platform type, gamer type, and regions for the video game market.
• Strategic Analysis: This includes M&A, new product development, and competitive landscape for the video game market.
• Analysis of competitive intensity of the industry based on Porter's Five Forces model.

FAQ

Q1. What is the video game market size?

Answer: The global video game market is expected to reach an estimated $229.3 by 2030.

Q2. What is the growth forecast for video game market?

Answer: The video game market is expected to grow at a CAGR of 4.4% from 2024 to 2030.

Q3. What are the major drivers influencing the growth of the video game market?

Answer: The major drivers for this market are increasing growth of smartphones and easy availability of games on the internet.

Q4. What is the major device or application industries for video game?

Answer: smartphone will remain the largest and highest growing segment due to increasing smartphone user in emerging nations.

Q5. What are the emerging trends in video game market?

Answer: Emerging trends, which have a direct impact on the dynamics of the industry, include development of augmented reality (AR) and virtual reality (VR) products such as head mounted displays (HMD) and head-up displays (HUD) and development of game based learning for academics and skill development.

Q6. Who are the key video game companies?

Answer: Some of the key video game companies are as follows:

• Sony
• Tencent
• Microsoft
• Netease
• Activation Blizzard
• Goggle
• Electronic Arts
• Nintendo
• Bandai Namco

Q7. Which video game by genre segment will be the largest in future?

Answer: Lucintel forecasts that the shooter game is expected to remain the largest segment due to increasing interest towards action packed video games across all age groups.

Q8. In video game market, which region is expected to be the largest in next 5 years?

Answer: Asia Pacific is expected to remain the largest region and witness the highest growth over next 5 years.

Q9. Do we receive customization in this report?

Answer: Yes, Lucintel provides 10% Customization Without any Additional Cost.

This report answers following 11 key questions

• Q.1 What are some of the most promising, high-growth opportunities for the global video game market by device type (smartphone, tablet, PC, console, and others), by genre (shooter, action, sports, role-playing, adventure, racing, strategy, and others), by platform type (online and offline), by gamer type(extreme and casual), by age group(age 10-20, age 21-35, age 36-50, age 51-65) and by region (North America, Europe, Asia Pacific, and the Rest of the World)?
• Q.2 Which segments will grow at a faster pace and why?
• Q.3 Which regions will grow at a faster pace and why?
• Q.4 What are the key factors affecting market dynamics? What are the drivers and challenges of the market?
• Q.5 What are the business risks and threats to the market?
• Q.6 What are the emerging trends in this market and the reasons behind them?
• Q.7 What are the changing demands of customers in the market?
• Q.8 What are the new developments in the market? Which companies are leading these developments?
• Q.9 Who are the major players in this market? What strategic initiatives are being implemented by key players for business growth?
• Q.10 What are some of the competitive products and processes in this area and how big of a threat do they pose for loss of market share via material or product substitution?
• Q.11 What M & A activities have taken place in the last 5 years in this market?