Video Game Industry Revenue & Market Share (Feb 2023)

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How Much Is The Game Industry Worth?

The gaming industry’s worth is estimated to reach $221.4 billion in 2023, and the United States will have the largest market share with $56.84 billion in revenue. The gaming sector is growing rapidly, and it is expected to increase continually year over year.

Read on to learn more about the gaming world, including the number of players, revenue growth over the years, the gaming industry worth per country, and many more.

Editors Picks:

  • The gaming industry’s worth is projected to reach US $221.4 billion in 2023 and $583.69 billion in 2030.
  • The video games segment is expected to have an $88 average revenue per user (ARPU) in 2023.
  • The mobile gaming segment accounts for the largest revenue share, with a $172.10 billion market volume in 2023.
  • 3.26 billion people in the world play games this year. It is expected to grow by 3.8 billion in 2027.
  • The Asia-Pacific region is anticipated to be the top gaming market, generating 49% of global revenue. Eastern countries such as China, Japan, and Korea contribute the largest to the region’s revenue.
  • Despite Asia-Pacific being the most significant region in terms of revenue, North America is the largest video games market in the sub-region category. It is expected to reach $67.53 billion in 2023 and $80.9 billion by 2025.
  • The US, China, Japan, South Korea, and the UK are the top countries with the most prominent gaming industry market share.
  • Tencent Holdings, Sony Corporation, Apple Inc, Microsoft Corporation, and NetEase are the top gaming companies in the world in terms of game revenue.

How Much Is The Gaming Industry Worth In 2023?

Gaming industry revenue: The gaming industry revenue is expected to reach $221.4 billion in 2023 and $583.69 billion in 2030. While the global video game market is expected to grow further, attaining 3.8 billion players with a total market size of $304.64 billion in 2027. The user penetration is expected to be 32.8% in 2023 and 35.6% by 2027. 

The average revenue per user: The video games segment is expected to have an $88 average revenue per user (ARPU) in 2023. There is a forecasted total of 3.26 billion gamers worldwide this year. 

Mobile gaming revenue: Mobile gaming is the largest segment, with a $172.10 billion market volume in 2023. The United States is estimated to dominate the gaming market worldwide with $56.84 billion in global revenue. US and China have been competing for this first spot for how many years.

The gaming industry generates revenue from two primary sources: (a) consoles, controllers, processors, and other accessories, and (b) software, which is the games themselves.

How Many People Play Video Games In 2023?

Global Video Game Players Population from 2017 to 2027

Global Video Game Players Population from 2017 to 2027

YearNumber of Gamers (Billions)
20172.39 
20182.48
20192.62
20203.05
20213.21
2022*3.03
2023*3.26
2024*3.45
2025*3.57
2026*3.69
2027*3.8
Data Graphic
Global Video Game Players Population from 2017 to 2027
Data Table

Global Video Game Players Population from 2017 to 2027

YearNumber of Gamers (Billions)
20172.39 
20182.48
20192.62
20203.05
20213.21
2022*3.03
2023*3.26
2024*3.45
2025*3.57
2026*3.69
2027*3.8

The data above shows that there will be an estimated 3.26 billion active video gamers globally in 2023. The number of players worldwide has been and is expected to increase steadily from 2017 to 2027, except for a slight decline in 2022. The number of players is projected to reach 3.8 billion by 2027, an increase of 5 million new users from 2023.

What Is The Video Game Market Growth?

Forecasted Growth of Video Game Revenue from 2022 to 2030

YearRevenue (In Billion USD)
2022$220.79
2023*$249.32
2024*$281.53
2025*$317.91
2026*$358.99
2027*$405.37
2028*$457.75
2029*$516.90
2030*$583.69

*Based on the compound annual growth rate (CAGR) of 12.9%

What Is The Video Game Market Growth?
Data Table

Forecasted Growth of Video Game Revenue from 2022 to 2030

YearRevenue (In Billion USD)
2022$220.79
2023*$249.32
2024*$281.53
2025*$317.91
2026*$358.99
2027*$405.37
2028*$457.75
2029*$516.90
2030*$583.69

*Based on the compound annual growth rate (CAGR) of 12.9%

Data Graphic
What Is The Video Game Market Growth?

With a compound annual growth rate (CAGR) of 12.9%, the gaming industry is expected to generate $249.32 billion in 2023 and up to $583.69 billion in 2030.

Individuals’ growing preference for online gaming is responsible for the popularity of multiplayer games, Free2Play (F2P), and massively multiplayer online games (MMO), which are expected to continue throughout the forecast period. As a result, game developers are concentrating on enhancing hardware efficiency and compatibility.

What Factors Are Driving Growth In The Video Game Market?

Is the gaming industry growing? Yes! The factors that affect this are the increasing penetration of internet services and the widespread availability and accessibility of games.

Game developers in emerging economies are constantly working to improve the gaming experience by releasing and rewriting codes for various consoles such as Windows PC, PlayStation, and Xbox, which are then integrated into a standalone product offered to gamers via a cloud platform.

Top 25 Companies by Game Revenue

Forecasted Growth of Video Game Revenue from 2022 to 2030

CompanyRevenues (in million USD)
Tencent$8,294
Sony$4,241 
Apple$3,646
Microsoft$2,909
NetEase$2,510
Google$2,413
Electronic Arts$1,904
Nintendo$1,809
Activision Blizzard$1,631
Take-Two Interactive$1,219
Bandai Namco Entertainment$906
Sea Group$893
Nexon$847
Playtika$629
Netmarble$584
37 Interactive$564
Square Enix$552
Embracer Group$533
Roblox$518
Ubisoft$498
CyberAgent$476
NCSoft$472
Konami$451
Warner Bros. Entertainment$396
Century Huatong Group$390
Top 25 Companies by Game Revenue
Data Table

Forecasted Growth of Video Game Revenue from 2022 to 2030

CompanyRevenues (in million USD)
Tencent$8,294
Sony$4,241 
Apple$3,646
Microsoft$2,909
NetEase$2,510
Google$2,413
Electronic Arts$1,904
Nintendo$1,809
Activision Blizzard$1,631
Take-Two Interactive$1,219
Bandai Namco Entertainment$906
Sea Group$893
Nexon$847
Playtika$629
Netmarble$584
37 Interactive$564
Square Enix$552
Embracer Group$533
Roblox$518
Ubisoft$498
CyberAgent$476
NCSoft$472
Konami$451
Warner Bros. Entertainment$396
Century Huatong Group$390
Data Graphic
Top 25 Companies by Game Revenue

The data table shows the companies that generate the most revenue in the third quarter of 2022.

  • Tencent Holdings has the most significant revenue, with $8.29 billion this quarter. They are known for Player Unknown’s Battlegrounds (PubG) and Fortnite.
  • Sony Corporation follows Tencent Holdings with $4.24 billion in revenue. They are popular for producing video game consoles under the PlayStation gaming brand.
  • Apple Inc is in the third spot with around $3.65 billion in revenue. Although Apple does not manufacture any gaming hardware or software, the charges they get for every transaction in the App Stores turned them into one of the top earners in the industry.
  • Microsoft Corporation takes fourth place with $2.91 billion in revenue. Its Xbox gaming brand’s content and services drive this growth.
  • NetEase secures the fifth spot with almost $2.51 billion in revenue. Identity V is the most popular game created by this company, with approximately 200,000 downloads worldwide in July 2022.

What Is The Biggest Video Game Company Today?

Tencent Holdings is the largest video game company today, with an $8.29 billion revenue in Q3 2022. Based in Shenzhen, this Chinese company generated a $32.2 billion revenue in 2021, showing a growth of 9.9% YoY. The online gaming segment accounted for roughly one-third of its revenue. This growth was led by popular games such as Fortnite, Honor of Kings, Clash of Clans, League of Legends, and PUBG.

Video Game Industry Revenue By Device

Device TypeRevenues (In Billion USD)
Mobile103.5
Console53
PC40.4
Video Game Industry Revenue By Device
Data Table
Device TypeRevenues (In Billion USD)
Mobile103.5
Console53
PC40.4
Data Graphic
Video Game Industry Revenue By Device

Mobile devices generate the most revenue in the gaming industry, totaling $103.5 billion worldwide this year. The console device trails behind with $53 billion, while the PC came last with a revenue of $40.4 billion.

  • With an annual revenue of $103.5 billion, mobile devices surpass consoles and PC combined.
  • Mobile devices have a $103.5 billion revenue this year. The Honor of Kings from Tencent is the highest-grossing mobile game worldwide in June 2022, with players spending approximately $238.2 million.
  • Console games to generate $53 billion annual revenue this year. With slightly more than 82.65 million units shipped worldwide, Wii Sports is the top-selling console game this year.
  • PC gaming made $40.4 billion in annual revenue this year. The Sims 3, a video game series that simulates daily life, is the most popular PC game, with 7.96 million units sold worldwide in 2019.

What Country Has The Biggest Video Game Market Share?

MarketRevenues (in billion USD)Players (in millions)
United States$56.84197.16
China$50.78742.19
Japan$42.178.1
South Korea$13.3733.8
United Kingdom$6.4139.1
Germany$5.1449.76
France$3.5839.34
Canada$3.5321.91
Italy$2.0437.64
Brazil$1.63100.74
What Country Has The Biggest Video Game Market Share
Data Table
MarketRevenues (in billion USD)Players (in millions)
United States$56.84197.16
China$50.78742.19
Japan$42.178.1
South Korea$13.3733.8
United Kingdom$6.4139.1
Germany$5.1449.76
France$3.5839.34
Canada$3.5321.91
Italy$2.0437.64
Brazil$1.63100.74
Data Graphic
What Country Has The Biggest Video Game Market Share

The US is expected to be the largest gaming market in the world in 2023, with a revenue of $56.84 billion. China comes second, expected to generate around $50.78 billion in revenue for 2023. China, however, has the largest player population than any other country, totaling up to 742.19 million players in 2022, compared to America’s 197.16 million players that same year.

How Much Is The Video Game Market Worth (USA)

The United States is projected to be the largest video game market, with an expected revenue of $56.84 billion this year. When the pandemic hit, it drove non-gamers to play, and existing gamers paid more attention and money to gaming activities in 2021, generating over $178 billion in gaming industry value.

How Much Is The Video Game Market Worth (China)

This year, China is expected to come in second in the global video game market, with $50.78 billion in revenue. China holds the largest player population at 742.19 million players. The mobile games segment accounts for more than 80% of the country’s gaming revenue at $41.24 billion, making it the driving force of the growth of the market.

How Much Is The Video Game Market Worth (Japan)

Japan is expected to be in the third largest market, following China in the video game market with $42.10 billion in revenue. It is also projected to grow at a 5.64% compound annual growth rate (CAGR) from 2023 to 2027, generating a market volume of $52.43 billion by 2027. Japan had around 78.1 million players in 2022.

How Much Is The Video Game Market Worth (South Korea)

South Korea is expected to be the fourth-largest video game market, with $13.37 billion in revenue. The video games revenue is forecast to present a 6.56% compound annual growth rate (CAGR) from 2023 to 2027, so the market will be worth $17.24 billion by 2027. South Korea had around 33.8 million players in 2022.

How Much Is The Video Game Market Worth (UK)

The United Kingdom will be the fifth-largest video game market in the world, with $6.41 billion in revenue for 2023. Mobile Gaming is the largest segment for the year, with a market volume of $3.24 billion.

How Much Is The Video Game Market Worth (Germany)

Germany will take the sixth spot as the biggest video game market in the world, projected to reach $5.14 billion in revenue in 2023. The user penetration is expected to be 39.4% in 2023, rising to 42.7% by 2027.

How Much Is The Video Game Market Worth (France)

France is projected to reach $3.58 billion in revenue this year. The growth is expected to accelerate at a 6.05% CAGR from 2023 to 2027, resulting in a market volume of $4.53 billion by 2027.

How Much Is The Video Game Market Worth (Canada)

This year, Canada is expected to generate $3.53 billion in revenue in 2023. The video games segment is expected to generate $272.30 average revenue per user (ARPU) in the same year. Canada had 21.91 million gamers in 2022.

Global Video Games Market Revenue Share By Region

Gaming Market Revenue By Sub-Region In Million US Dollars

MarketRevenues (in billion USD)Players (in millions)
United States$56.84197.16
China$50.78742.19
Japan$42.178.1
South Korea$13.3733.8
United Kingdom$6.4139.1
Germany$5.1449.76
France$3.5839.34
Canada$3.5321.91
Italy$2.0437.64
Brazil$1.63100.74
Global Video Games Market Revenue Share By Region
Data Table

Gaming Market Revenue By Sub-Region In Million US Dollars

MarketRevenues (in billion USD)Players (in millions)
United States$56.84197.16
China$50.78742.19
Japan$42.178.1
South Korea$13.3733.8
United Kingdom$6.4139.1
Germany$5.1449.76
France$3.5839.34
Canada$3.5321.91
Italy$2.0437.64
Brazil$1.63100.74
Data Graphic
Global Video Games Market Revenue Share By Region

The top three sub-regions in terms of video game market revenue are North America, the Far East, and Western Europe.

  • North America is expected to reach $67.5 billion in 2023 and $80.9 billion by 2025, an increase of $13.4 billion or almost 20% growth in two years.
  • The Far East is expected to reach $64.7 billion in revenue in 2023 and $78.4 billion by 2025.
  • Western Europe is projected to reach $53.78 billion in revenue in 2023 and $77.4 in 2025.

Gaming Market Revenue by Region by Percent

RegionRevenue (%)
Asia-Pacific49%
Americas30%
Europe17%
Middle East & Africa4%
Gaming market revenue by region
Data Table
RegionRevenue (%)
Asia-Pacific49%
Americas30%
Europe17%
Middle East & Africa4%
Data Graphic
Gaming market revenue by region

The Asia-Pacific region is anticipated to be the top gaming market, generating a 49% share of the global gaming revenue, with East Asian countries like China, Japan, and South Korea contributing the largest. The Asia Pacific region is 19% larger than the share of the Americas, which takes 30% of the revenue, and is led by the US and Canada in terms of revenue. The global gaming market revenue is projected to be around $221.4 billion in 2023.