Online Gaming Market Forecast 2024-2033: Projected CAGR, Key Drivers, And Trends, Key Factors Driving Growth

Overview and Scope
Online gaming refers to video games that are played over the internet, either on a computer, console, or mobile device. This form of gaming allows individuals to connect and interact with each other in a virtual environment, engaging in competitive or cooperative gameplay.

Sizing and Forecast
The online gaming market size has grown rapidly in recent years. It will grow from $88.55 billion in 2023 to $98.6 billion in 2024 at a compound annual growth rate (CAGR) of 11.3%.  The growth in the historic period can be attributed to advancements in mobile gaming, digital distribution platforms, expanding gaming demographics, free-to-play models.

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Segmentation & Regional Insights
The online gaming  market covered in this report is segmented –

1) By Type: Action, Adventure, Arcade, Sports, Puzzle, Other Type
2) By Gamer Type: Social Gamers, Serious Gamers, Core Gamers
3) By Age group: Less Than 10 Years, 11-24 Years, 25-44 Years, 45 Years And Older
4) By Platform: Mobile Phone, personal computer (PCs), Consoles, Other Platforms

Asia-Pacific was the largest region in the online gaming market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the online gaming  market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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Major Driver Impacting Market Growth
Rising usage of mobile devices is expected to propel the growth of the online gaming market going forward. Mobile devices refer to compact, portable electronic gadgets that are designed for mobility and can perform various tasks. The increasing usage of mobile devices is driven by a variety of factors, including the unparalleled convenience offered by mobile devices, connectivity, affordability, and social and cultural factors. Mobile devices used for online gaming offer a wide range of preferences and playstyles in online gaming, providing diverse experiences. For instance, according to World Bank Data, a US-based international financial institution, the number of mobile cellular subscriptions per 100 people worldwide was reported at 108 in 2022, which was reported 107 in 2021. Therefore, the rising usage of mobile devices is driving the growth of the online gaming market.

Key Industry Players
Major companies operating in the online gaming market are Microsoft Corporation, Sony Corporation, Tencent Holdings Limited, Nintendo Co. Ltd., NetEase Inc., Valve Corporation, Bandai Namco Entertainment Inc., Activision Blizzard Inc., Epic Games Inc., Electronic Arts Inc., Take-Two Interactive Software Inc., Zynga Inc., Nexon Co. Ltd., Square Enix Holdings Co. Ltd., Ubisoft Entertainment SA, Konami Holdings Corporation, NCSoft Corporation, Riot Games Inc., Unity Technologies SF, GungHo Online Entertainment Inc., Capcom Co. Ltd., Supercell Oy, GREE Inc., Gameloft SE, CD Projekt S.A., Miniclip SA

The online gaming market report table of contents includes:
1. Executive Summary
2. Online Gaming Market Characteristics
3. Online Gaming Market Trends And Strategies
4. Online Gaming Market – Macro Economic Scenario
5. Global Online Gaming Market Size and Growth
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32. Global Online Gaming Market Competitive Benchmarking
33. Global Online Gaming Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Online Gaming Market
35. Online Gaming Market Future Outlook and Potential Analysis
36. Appendix

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