Video Game Industry Revenue & Market Share (Feb 2024)

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| Updated on February 20, 2024
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How Much Is The Game Industry Worth?

The video gaming industry’s worth is estimated to reach $455.27 billion in 2024, and the United States will have the largest market share with $78.01 billion in revenue. The mobile games segment is expected to generate a revenue of $98.74 billion in 2024. 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:

  • Video Game Industry Revenue: The video gaming industry’s worth is projected to reach US $455.27 billion in 2024 and a growth rate of 37.42% or up to $625.64 billion in 2028. In-game advertising is expected to take the largest market volume at $109.6 billion.
  • Video Game ARPU: The video games segment is expected to have a $215.20 average revenue per user (ARPU) in 2024.
  • Mobile Gaming Revenue: The mobile gaming segment accounts for $98.74 billion revenue share in 2024.
  • Number of Gamers: Around 1.3 billion people in the world play video games this year. It is expected to grow to 1.47 billion in 2027.
  • Top Regional Gaming Market: The Asia-Pacific region is anticipated to be the top gaming market, generating 46% of global revenue. Eastern countries such as China, Japan, and Korea contribute the largest to the region’s revenue.
  • Top Sub-Region Gaming Market: Despite Asia-Pacific being the biggest region in terms of revenue, North America is the largest video games market in the sub-region category. It is expected to reach $73.73 billion in 2024 and $80.9 billion by 2025.
  • Top Countries by Gaming Market Share: China, US, Japan, South Korea, and the UK are the top countries with the most prominent gaming industry market share.
  • Top Video Game Companies: 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 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.

How Many People Play Video Games In 2023?

Global Video Game Players Population from 2017 to 2027

YearNumber of Gamers (Billions)
20271.47
20261.42
20251.37
20241.31
20231.22
20221.11
20211.18
20201.08
20190.9
20180.83
20170.76

*Estimated values

How Many People Play Video Games
Data Table

Global Video Game Players Population from 2017 to 2027

YearNumber of Gamers (Billions)
20271.47
20261.42
20251.37
20241.31
20231.22
20221.11
20211.18
20201.08
20190.9
20180.83
20170.76

*Estimated values

Data Graphic
How Many People Play Video Games

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.

What Is The Video Game Market Growth?

Forecasted Growth of Video Game Revenue from 2018 to 2028

YearRevenue (In Billion USD)
2028625.64
2027584.6
2026542.41
2025502.08
2024455.27
2023406.2
2022361.76
2021369.97
2020321.61
2019265.21
2018242.52

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

Video Game Market Growth
Data Table

Forecasted Growth of Video Game Revenue from 2018 to 2028

YearRevenue (In Billion USD)
2028625.64
2027584.6
2026542.41
2025502.08
2024455.27
2023406.2
2022361.76
2021369.97
2020321.61
2019265.21
2018242.52

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

Data Graphic
Video Game Market Growth

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.

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 10 Companies by Game Revenue

Forecasted Growth of Video Game Revenue from 2022 to 2030

CompanyRevenues (in million USD)
Tencent7,162
Sony3,629
Apple3,190
Microsoft2,891
NetEase2,289
Google2,523
Activision Blizzard2,093
Electronic Arts1,924
Nintendo1,765
Take-Two Interactive1,096
Top 10 Companies by Game Revenue
Data Table

Forecasted Growth of Video Game Revenue from 2022 to 2030

CompanyRevenues (in million USD)
Tencent7,162
Sony3,629
Apple3,190
Microsoft2,891
NetEase2,289
Google2,523
Activision Blizzard2,093
Electronic Arts1,924
Nintendo1,765
Take-Two Interactive1,096
Data Graphic
Top 10 Companies by Game Revenue

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

  • Tencent Holdings has the most significant revenue, with $7.16 billion this quarter. They are known for Player Unknown’s Battlegrounds (PubG) and Fortnite.
  • Sony Corporation follows Tencent Holdings with $3.62 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 $3.19 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 $2.89 billion in revenue. Its Xbox gaming brand’s content and services drive this growth.
  • NetEase secures the fifth spot with almost $2.28 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 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.

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)
China94.49699.6
United States78.01209.8
Japan2873.4
South Korea9.6533.3
United Kingdom8.8838.5
Germany5.3649.5
Canada3.9322
France3.8738.8
What Country Has The Biggest Video Game Market Share?
Data Table
MarketRevenues (in billion USD)Players (in millions)
China94.49699.6
United States78.01209.8
Japan2873.4
South Korea9.6533.3
United Kingdom8.8838.5
Germany5.3649.5
Canada3.9322
France3.8738.8
Data Graphic
What Country Has The Biggest Video Game Market Share?

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.

How Much Is The Video Game Market Worth (USA)

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.

How Much Is The Video Game Market Worth (China)

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.

How Much Is The Video Game Market Worth (Japan)

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.

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

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.

How Much Is The Video Game Market Worth (UK)

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.

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 $5.36 billion in revenue in 2024. The user penetration is expected to be 14.8% in 2024, rising to 16.2% by 2027.

How Much Is The Video Game Market Worth (France)

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.

How Much Is The Video Game Market Worth (Canada)

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.

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)
China94.49699.6
United States78.01209.8
Japan2873.4
South Korea9.6533.3
United Kingdom8.8838.5
Germany5.3649.5
Canada3.9322
France3.8738.8