In 2019, the value of the video game market was set at around $150 billion, with forecasts indicating an even sharper growth for the future. As forecasted, this sector is likely to reach $300 billion by 2025.
Mobile videogames have already surpassed the gaming console and PC markets. In the coming years, thanks to increased streaming speed and reliability (supported by), expanding cloud services and mobile game platforms bridging the technology gap with their direct competitors, more and more players will move towards smartphones and other similar devices. This will further expand the market from the $70 billion recorded in 2019 to over $100 billion by 2022.
According to Nathan Meyer, the equity analyst and portfolio manager at Capital Group, the gaming industry represents the fastest growing segment of the global media industry. In fact, video games are becoming a mass phenomenon: the development of streaming and free games has opened up the market to more players than ever before. Nathan Meyer stresses that “it is no longer just about teenagers playing video games in their home, but it is a big business, which attracts multiple types of players, from every age, background and education, as well as investors from all over the world”.
According to the Entertainment Software Association, more than 164 million adults in the United States play video games and spend approximately $43 billion on purchases related to this category of products. China is the market with the fastest expansion rate in the world, with an annual growth rate of about 14%. There are 598 million Chinese players and around 95% of them play on mobile devices, according to a study conducted by research firm Niko Partners.