What Is the Size of the Gaming Industry?

The global gaming market was valued at $241.1 billion in 2024, according to a report by IMARC Group. The market is projected to grow to $535.29 billion by 2033, with a compound annual growth rate of 8.30%. Asia-Pacific leads with a 49.5% market share, driven by mobile gaming, esports and smartphone penetration. Gaming's growth stems from smartphone penetration and cheaper internet in emerging markets. The industry is also becoming more accessible through cloud gaming services and handheld PCs like the Steam Deck and ROG Ally.

Priori Data estimates that more than 3.3 billion people world-wide have interacted with video games throughout their lifetime. Mobile gaming dominates with 51.4% of the market in 2024, fueled by affordable smartphones and high-speed connectivity. In India, mobile gaming accounts for 90% of revenue, supported by a tech-savvy demographic of more than 600 million people under 35, according to IMARC.

Internet users globally are expected to hit 7.9 billion by 2029, which could contribute to further growth for the videogames industry. In-game purchases lead revenue streams, capturing 63.4% of the market. Free-to-play games drive most revenue through microtransactions, loot boxes, battle passes, cosmetics and other in-game items. Esports is also growing, with the global market expected to reach $10.1 billion by 2033 at a 17.05% compound annual growth rate.

China: China is the world's largest gaming market, generating $88 billion in 2024, according to Newzoo. Chinese mobile games like Genshin Impact and Honkai: Star Rail earn billions in revenue annually. Esports is a cultural phenomenon, supported by government recognition as an official sport.

India: With 954.4 million internet users and 556 million in urban areas, India's mobile gaming sector accounts for 90% of gaming revenue, according to IMARC. Free-to-play titles like Free Fire and BGMI attract players across the country and have helped create a growing esports ecosystem.

Japan: Valued at $7.98 billion in 2024, Japan's market grows at a 10.1% compound annual growth rate, driven by console giants like Sony and Nintendo, according to Cognitive Market Research. Both mobile and console gaming are popular.

South Korea: Known for its esports ecosystem, South Korea's market is projected to grow through 2028 with a focus on console gaming, according to Yonhap News Agency. Games like League of Legends and PUBG dominate, and the focus on esports has helped make gaming more popular.

Indonesia: Leading Southeast Asia with 41% of regional mobile game downloads in 2024, Indonesia's market is fueled by a young population and 96% smartphone adoption, according to Sensor Tower.

United States: The U.S. contributed 92.1% to North America's $50.6 billion market in 2024, according to Newzoo. The country is home to gaming giants like Microsoft (Xbox, Activision Blizzard), Electronic Arts, Epic Games and Roblox Corp.

Europe: Europe's $33.6 billion gaming market is growing at an 11.04% compound annual growth rate, according to IMARC Group. The region has several notable gaming studios. France's Ubisoft has successful open-world gaming franchises, while Poland's CD Projekt Red leads in role-playing games like The Witcher and Cyberpunk 2077.

Latin America: Latin America's gaming market grows thanks to internet penetration and more than 67 million 5G connections, according to 5G Americas. Brazil's vibrant esports scene and mobile titles like Free Fire and Valorant thrive with government support. Mexico and Argentina are also emerging as important regional players.

Middle East and North Africa: The MENA gaming market is propelled by 72.8% smartphone penetration in Saudi Arabia and infrastructure investments. Saudi Arabia's $1.5 billion ESL acquisition and investment in gaming as part of the Vision 2030 project has helped the region become a popular esports hub.