The Global Online Gaming Market Size accounted for USD 56 Billion in 2021 and will achieve a market size of USD 132 Billion by 2030, budding at a CAGR of 10.2%.

Online gaming is witnessing high growth among the young age group people. The latest games offer online interactions with other players along with actual transaction options. Increasing interest among youth due to rising international e-sports events such as Free Fire World Series 2021 Singapore, PUBG Mobile Global Championship, M3 World Championship, League of Legends World Championship, and Fortnite World Cup are boosting the online gaming market revenue. According to our online gaming industry analysis, the growing number of mobile games will generate numerous growth opportunities for the market from 2022 to 2030. Furthermore, the arrival of COVID-19 pandemic positively impacted the online gaming industry due to the regulations laid down by government to stay at home.

Global Online Gaming Market DRO’s:

Market Drivers:

• Growing demand among youth population
• Increasing technologically advanced electronic devices
• Improving platforms for online streaming

Market Restraints:

• High cost of online gaming subscriptions
• Issues related to data theft and privacy

Market Opportunities:

• Growth in number of competitive events across the world
• Massive investments in the online gaming industry
• Advent of novel technologies such as 5G, cloud gaming, virtual and augmented reality

Report Coverage

Online gaming is highly popular among people of all age group. Consumers spend a larger amount of time on gaming each year. Across the globe gamers spend an average eight hours each week playing games. Rapid technological advancement in electronic devices and introduction of mobile and tabs with more enhanced graphic making it compatible for gaming is resulting in people of young age inclining towards buying high end electronic devices. This factor considerably fuels the online gaming market value. Young age people from countries such as China, South Korea, and India are investing large amount of time on gaming. Organizations are establishing various contests and gaming competitions with some prize this is encouraging the players. According to the data published by the Korea Creative Content Agency, more than 64% of Korean people aged between 10-65 years old are playing games on a regular basis. In 2019, mobile games accounted for 90 percent of the total app revenue in Korea, an estimated US$ 6.3 billion in sales. In 2018, Playstation Plus subscribers an online gaming service reached to 34.2 million. These are major factors expected to drive the growth of global online gaming market.

Favorable government policy in order to support the augmentation of industry is expected to impact the online gaming market growth. In 2020, the government of Korea is focused on lowering the strictness on the gaming sector. It is focused on implementing flexible game ratings system, increasing a limit on the amount of money one can bet within games and promoting government led industry events. This is expected to help the industry flourish and increase revenue generation. Factors such as high charges of online gaming and issues related to data theft and privacy are major factors expected to hamper the global online gaming market share. In addition, complex and strict government regulations related to online gaming is expected to challenge the growth of target market. Barring online fantasy sports (OFS) games, most other modern day games face similar ambiguity. The government of Andhra Pradesh and Telangana has banned real money games altogether while Tamil Nadu permits skill games. Kerala has banned online rummy played for stakes. However, chancing government regulations, increasing transparency and enhanced care related to data privacy and high investment by major players in online competition are factors expected to create new opportunities for players operating in the online gaming market over the forecast period. In addition, introduction of new games is expected to attract new players this is expected to support the revenue transaction of the target market.

Online Gaming Market Segmentation

The worldwide online gaming market is split based on type, age group and geography. The global online gaming market is segmented into type and age group. The type segment is bifurcated into mobile games, pay-to-play games, free-to-play games, and pay-in-play games. Among type the mobile games segment is expected to account for major revenue share in the global online gaming market due to high penetration of smart phones with enhanced graphics. The age group segment is divided into below 10 years, 11-24 years, 25-44 years, and above 45 years.

Market by Type

• Mobile Games
• Free-To-Play Games
• Pay-To-Play Games
• Pay-In-Play Games

Market by Age Group

• Below 10 Years
• 11-24 Years
• 25-44 Years
• 45 and Above Years

Online Gaming Market Regional Outlook