Video Game Industry Revenue & Market Share (2024)

The video gaming industry revenue is expected to reach $55.27 billion in 2024 and $502.08 billion in 2025. The global video game market is expected to grow further, attaining 1.47 billion players with a total revenue of $584.60 billion in 2027. The user penetration is expected to be 16.9% in 2024 and 18.5% by 2027.

The video games segment is expected to have a $123.60 average revenue per user (ARPU) in 2023. There is a forecasted total of 1.31 billion gamers worldwide this year.

In-game advertising is the largest segment, with a $109.60 billion market volume in 2024. China is estimated to dominate the gaming market worldwide with $94.49 billion in revenue. The US and China have been competing for this first spot for 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.

The data above shows that there will be an estimated 1.31 billion active video gamers globally in 2024. The number of players worldwide has been and is expected to increase steadily from 2022 to 2027. The number of players is projected to reach 1.47 billion by 2027, an increase of 160 million new users from 2024.

The gaming industry is expected to grow from $455.27 billion in 2024 to $625.64 billion in 2028, or a 37.2% increase in a span of four years.

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.

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.

The data table shows the companies that generate the most revenue in the third quarter of 2023.

Tencent Holdings is the largest video game company today, with a $7.162 billion revenue in Q3 2023. 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.

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.

China is expected to be the largest gaming market in the world in 2024, with a revenue of $94.49 billion. The US comes second, expected to generate around $78.01 billion in revenue for 2024. China has the largest player population of any other country, totaling up to 699.6 million players, compared to America’s 209.8 million players that same year.

The United States is projected to be the second largest video game market, with an expected revenue of $78.01 billion in 2024. 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.

This year, China is expected to be the largest global video game market, with $94.49 billion in revenue. China holds the largest player population at around 700 million players. The mobile games segment accounts for more than 80% of the country’s gaming revenue, making it the driving force of the growth of the market.

Japan is expected to be the third largest in the video game market with $28.00 billion in revenue in 2024. Japan had around 78.1 million players in 2022.

South Korea is expected to be the fourth-largest video game market in 2024, with $9.65 billion in revenue. South Korea is expected to reach 18 million players in 2027.

The United Kingdom will be the fifth-largest video game market in the world, with $8.88 billion in revenue for 2024. In-game Advertising is the largest segment for the year at $3.47 billion.

Germany will take the sixth spot as the biggest video game market in the world, projected to reach $5.36 billion in revenue in 2024. The user penetration is expected to be 14.8% in 2024, rising to 16.2% by 2027.

France is projected to reach $3.87 billion in revenue this year. The growth is expected to accelerate at a 9.40% CAGR from 2024 to 2027, resulting in a market volume of $5.06 billion by 2027.

This year, Canada is expected to generate $3.93 billion in revenue in 2024. The video games segment is expected to generate $756.70 average revenue per user (ARPU) in the same year. Canada is expected to reach 5.8 million gamers in 2027.

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

The Asia-Pacific region is anticipated to be the top gaming market, generating a 46% share of the global gaming revenue, with East Asian countries like China, Japan, and South Korea contributing the largest. The Asia Pacific region is 14% larger than the share of the Americas, which takes 32% 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 $455.27 billion in 2024.