28 Engaging Video Game Industry Statistics for 2024

The video game industry has grown significantly, from a meager $43 billion in 2018 to $384.9 billion in 2023. The increase in revenue is due to more game releases, advertisements from companies, in-game purchases, and subscription fees.

Gaming also spread from stationary consoles and PCs to mobile devices such as smartphones and tablets. The rise of mobile gaming also paved the way for an estimated 3.26 billion people to play mobile games. This number equates to 41% of the total global population. 

Get the latest statistics on how this industry thrives in the following section, and learn more about the gaming industry.

How Big is The Gaming Industry in 2023?

The gaming industry is estimated to have a compound annual growth rate of 7.89% between 2023 and 2027. By 2027, it will reach a market value of $521.6 billion. With this market value, even the music and movie industry falls short compared to the gaming industry.

Like its revenue and industry, the population of gamers is also on the rise. Since 2016, gamers worldwide have risen by over a billion. In 2023, there will be 3.09 billion gamers, almost half the world’s population.

Video Game Industry Market Value Statistics

The video game industry is estimated to have a market value of $221.4 billion in 2023. At $56.84 billion in revenue, the US has the highest market share. The increase in revenue is because the US has the most extensive library of video games and the availability of new consoles in the market.

With new available consoles and the integration of AI in gaming, the industry projects rapid growth and will increase in revenue yearly.

Learn more about the video game industry, market value, and other statistics in the list below.

1. Mobile gaming accounts for $172.10 billion of the industry’s revenue. 

(Bankmycell)

The mobile gaming sector accounts for the most significant revenue in the entire industry, with a $172.10 billion revenue for 2023. This industry also accounts for 53% of the global gaming market.

Mobile gaming is an ongoing trend in 2023, with the rise of popular games such as Raid: Shadow Legends, Candy Crush Saga, League of Legends, and more. 

2. The United States’ gaming market revenue in 2022 was $54.9 billion.

(Statista)

The US ranks first among the most prominent gaming markets globally, with a gaming market revenue of $54.9 billion in 2022. This country is also considered the birthplace of video gaming as we know it today.

3. The market value of video gaming in Europe reached $43.17 billion in 2023.

(Statista)

The growth of this industry in Europe is due to the players' competitiveness and the legislative support of the EU to sustain the industry's growth. Popular video games among Europeans are Minecraft, League of Legends, Counter-Strike: Global Offensive, and Fortnite.

4. Asia accounts for 57% of the global e-sports market.

(Niko)

Asia holds over 57% of the $1.1 billion e-sports global market, becoming the largest and most important market for e-sports. The Asian market is also studied to predict the future esports movement due to the region's large size compared to other countries.

5. The market value of mobile gaming in Europe is $18.7 billion.

(Statista)

The growth of mobile users and the development of the 5G network have tremendously aided the mobile gaming industry. Europe’s mobile gaming segment will reach $18.70 billion in 2023 and is projected to reach $23.34 billion in 2027.

6. N0tail is the richest e-sport player worldwide, earning  $7.1 million since 2012.

(EsportGG)

Johan “N0TAIL” Sundstein is a Danish Dota2 and the former team captain of the Dota2 team, OG. Their team won Four Majors, each offering over $1 million to the winners. N0TAIL’s earnings have accumulated to $7.18 million since 2012.

7. Mobile gaming remains the largest segment in the industry, earning $103.5 billion in 2022.

(Statista)

Mobile gaming represents 53% of the entire sector, roughly $103.5 billion in 2022. Most mobile gaming revenue comes from in-app purchases such as upgrades, cosmetic items, playable characters, and more.

8. Globally, there are 532.1 million esports audiences as of 2023.

(Demandsage, esportinsider)

Esports is becoming a big spectator event. As of 2023, there are 532.1 million esports audiences watching tournaments worldwide. Many aspiring gamers join these events, hoping to earn recognition and the pool prize.

Here are some of the tournaments and recorded viewership:

Gamer Profile: Video Games Demographics

There are around 3.09 billion people actively playing video games worldwide. This number is estimated to reach 3.32 billion by 2024. Demographically, the number of video game players is almost 50:50 regarding gender. There are around 1.7 billion male and 1.39 billion female players worldwide.

In terms of number of players, The most significant concentration of gamers is in Asia, estimated to be 1.48 billion players. Asia has more players than Europe, North America, and Latin America.

More statistics about Video Games Demographics are listed below.

9. 80% of gamers are 18 and above.

(Exploding Topics)

Worldwide, 80% of gamers are adults. This percentage accounts for 2.47 billion adult gamers, and 618 million are minors. Gaming has also become a hobby for many adults as they treat it as a way to relax after long work days.

Here is the breakdown of players by age:

10. As of 2023, there are 1.92 billion mobile gamers worldwide.

(Zippia)

There are 1.92 billion mobile gamers worldwide in 2023. The number of mobile gamers increases due to accessibility and convenience, offering a low-cost alternative to conventional games. Mobile games are downloaded quickly and played anywhere, an ideal entertainment for someone always on the go.

11. The US video gamers ratio is almost 50:50 regarding gender.

(Statista)

In 2023, 49% of gamers in the US are female, an increase from 41% in 2016. Meanwhile, the male gamer population decreased from 59% in 2016 to 51% in 2023. 

Female gamers play video games to relieve stress, as a form of escapism, and to connect with friends.

12. In the US, 72% of esports fans are males.

(Financeonline)

Most esports fans in the US are males, comprising 72% of the total esports fans. Esports is more prevalent among males because of online betting, as they are more prone to gambling than women.

13. 63% of games developed by a gaming studio are made for PC.

(Truelist)

PC games are the primary platform for developers, accounting for 63% of all developed video games. Playing games on a PC is also more convenient due to better graphics and higher performance. It also offers better optimization and more customized settings than playing on a console.

14. Playstation sold over 102 million consoles, while Xbox has 84 million sold.

(History-computer)

Sony's Playstation and Microsoft's Xbox are the most popular consoles worldwide. PlayStation has sold 102 million consoles since its release, and Xbox has sold 84 million consoles since its release in 2021.

Despite the popularity of PC gaming, many developers choose to release games on consoles first. This preference for a gaming platform drives the high sales of consoles.

Statistics on Video Game Studios and Companies:

Bandai Namco Entertainment earned $7.56 billion in 2022. One of the company’s popular games is the Tekken series, regarded as one of the top four best-selling fighting game series, with over 54 million copies sold.

Pacman was also developed by Bandai Namco. The game remains one of the best-selling and highest-grossing games ever created. It generated over $14 billion in revenue as of 2016 and sold 43 million units. It made a legacy in pop culture, becoming one of the best video games ever.

The following section contains statistics on the video game studios and companies, showing how much they make annually.

15. Ubisoft Entertainment’s net worth as of 2023 is $3.82 billion.

(Macrotrends)

The French gaming company Ubisoft has reached a market cap of $3.83 billion as of August 2023, an increase from $2.37 billion in 2022. Ubisoft is popularly known for creating the Assassin’s Creed franchise, which has sold 155 million copies across 12 titles.

Ubisoft is on an all-time high as the company will release a new Assassin’s Creed installment called AC: Mirage in October 2023. They are also releasing a new RPG game on mobiles called AC: Codename Jade, in tandem with Tencent. 

16. Electronic Arts latest revenue shows $7.58 billion revenue.

(CompaniesMarketCap, Statista, Levvvel)

Electronic Arts has a revenue of $7.58 billion in 2023, an increase from $7.37 billion in 2022. EA is a software company known for making PC games like Fifa Soccer ($104.87 million revenue), Star Wars: Galaxy of Heroes ($49.95 million revenue), and Mass Effect ($92.3 million income).

The company has been developing gaming software since 1986, which makes it one of the oldest game developers.

17. Rockstar Games’ Annual revenue is estimated at $1.6 billion.

(Gowjo)

The annual revenue of Rockstar Games reaches approximately $1.6 billion, with a per-employee income of $305,442. Rockstar Games is known for creating the famous game GTA 5. The company sold over 185 million copies of GTA 5 worldwide, making it one of the best-selling video games ever.

18. Sony Interactive Entertainment’s annual revenue is $28.2 billion.

(Zippia)

Sony Interactive Entertainment is one of the largest video game companies worldwide, earning an annual revenue of $28.2 billion. The company handles the following:

• Research and development of games
• Management and sales of the PlayStation consoles
• Production of new game titles and remastering old titles.

19. Nintendo Switch’s sales declined to 22% in 2023, with only 18 million units sold.

(CNBC)

Nintendo's flagship gaming console, Nintendo Switch, experienced a 22% decline in sales in 2023. The gaming console sold 23 million units in 2022 but only sold 17.97 million units in 2023. The decline in sales is due to the shortage of semiconductors and other components, impacting production until Q3 of 2023.

20. Riot Games' peak revenue reached $1.5 billion in 2022.

(Zippia)

Riot Games earns an annual revenue of $1.5 billion. Their income comes from game development, publishing, and esports tournament organizing. However, most of their Riot Games' revenue is from in-game purchases, advertising, and sponsorship revenue from game tournament broadcasts.

21. Valve generated around $13 billion in revenue in 2022.

(Signhouse)

The company’s $13 billion revenue increased a few hundred thousand dollars from 2021. Valve is the developer of the video game digital distribution service and storefront, Steam. Most of Valve’s profit comes from microtransactions and in-game purchases conducted on Steam.

22. Gameloft’s revenue reached $98.6 million in Q3 of 2022.

(VentureBeat)

The Paris-based social gaming company reached an all-time high of $98.6 million in revenue in Q3 of 2022. Revenue is up by 48.1% compared to the previous quarter. Gameloft mainly develops mobile games, so most of the company’s income comes from in-app purchases.

23. Activision’s revenue reached $8.706 billion in 2023. 

(Macrotrends)

Activision Blizzard's fiscal year of 2022-2023 reached $8.706 billion in revenue, an increase of 13.89%. The company also achieved a market cap of $71.99 billion as of August 2023. Most of Activision Blizzard's profit comes from microtransactions, subscriptions, and licensing royalties from its products and franchises.

24. Fortnite’s revenue is estimated to reach over $6 billion in 2022.

(Signhouse, DemandSage)

Fortnite is an online game popular for being free to download and play, available on other platforms. As of February 2023, there are around 400 million Fortnite players, 62.7% are aged 18-24. 

The popularity of Fortnite also brought its developers billions in profit through microtransactions and merchandise. 

Below are the generated annual profits fornite earned since 2018. 

Statistics on PC Gaming vs. Console Gaming

The global market for PC games is valued at $29.16 billion in 2022. It is also projected to reach around $32.11 billion by the end of 2030. PC gaming offers better customization options that help players modify games to their liking and have various gaming accessories.

On the other hand, Console games generated a global revenue of $52.2 billion in 2022. Consoles are generally easier to use, and playing multiplayer games is straightforward. Also, using wireless controllers on consoles lets users play actively.

To understand better the pros and cons of both PC and Console, here are some statistics relating to both topics.

25. 1.1 billion PC players and 611 million console players exist worldwide.

(VentureBeat)

A report in 2022 shows that 1.1 billion players are using PCs, and 611 million are using consoles. The console market has experienced a drop of 4.2%, while the PC market has increased by 1.8%. The decline in console sales is attributed to PC game releases, as gamers spend less time waiting for a console version to release.

26. Regarding market share, console video games take 56.2%, while PC games take 41.3%.

(GamesIndustry.biz)

Console games take up most of the market breakdown at 56.2%. Meanwhile, boxed or downloaded PC games take 41.3% of the market share. However, PC browser game spending accounted for 2.5% of the global game spending. Most gamers choose consoles since some popular games are unavailable for PC. 

27. Consoles retail at $499 or less, while PCs cost between $800-$1200.

(Redbull)

Gaming PCs are generally more expensive than consoles. For example, Sony’s newest console, the PS5, retails at $499. At the same time, PCs are more expensive, especially high-end gaming PCs, which usually cost around $800-$1200 for beginners.

Conclusion

The global video game revenue is moving upward, earning billions annually. With mobile gaming becoming popular, the gaming industry has gained another profitable segment. This industry is projected to grow more prominent over the coming years.

Today's video games have captivated the imagination of their players. With the development of artificial intelligence, video games have become more mesmerizing and realistic. With stable growth and increasing following, the video game industry will become one of the largest industries in the world.