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Video gaming market overview
The global video games market is expected to generate $175.8 billion in 2021 and its revenues are set to grow at an annual rate of over 10-11%. The Asia-Pacific and North America will be the biggest video games markets in 2021 and account for around 50% and 24% of game revenues respectively. These shares will shrink slightly until 2024 in favor of Latin America, and the Middle East and Africa.
The video game market is growing rapidly in the number of gamers as well, which is expected to rise significantly over the next few years.
Source: ©2021 Newzoo Global Games Market Report 2021
The Asia Pacific region is the leader of the global video gaming industry, with $88.2 billion in 2021 alone, making up 50.2% of all game revenues. China is by far the largest contributor to the video gaming market with its contribution of $45.6 billion. The second-largest region, North America will draw $42.6 billion in 2021. Asia-Pacific will have a healthy growth of 8.7% per year.
Source: ©2021 Newzoo Global Games Market Report 2021
The gaming industry is booming, with close to 3 billion players across the globe in 2021. This is up by 5.3% year on year from 2020, demonstrating that the 2020’s gaming boom has led to a lasting increase in players. By 2024, the global number of players is estimated to reach 3.3 billion. Over the following five years, this number will grow by an average of 5.6% annually.
Source: ©2021 Newzoo Global Games Market Report 2021
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