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Global Video Games Market Primed for 13.5% CAGR Growth to 2030 as Lightning Speed Connectivity and Cloud Infrastructure Take Center Stage

Global Video Games
Posted on December 5, 2023

The global video games market is poised for robust growth in the coming years, according to a new market research report published by Data Bridge Market Research. As per the report, the global video games market was valued at USD 173.70 billion in 2022 and is projected to reach USD 564.53 billion by 2030, growing at a CAGR of 13.5% over the forecast period.

The growth drivers primarily include increasing penetration of high-speed internet connections, adoption of advanced gaming technologies such as virtual reality and augmented reality, and growing popularity of eSports tournaments and leagues. The research highlights speed and low latency as critical priorities for gamers, with fiber-to-the-home connections enabling seamless high-definition gameplay.

The Asia Pacific region currently represents the most significant global video games market share at 36.5% in 2022, followed by North America and Europe. Focusing specifically on New Zealand’s local landscape, gaming continues to grow as a mainstream entertainment medium. As per a 2021 survey, around 2 in 3 New Zealanders play video games in some form. Mobile gaming leads in popularity, although PC and console gaming also have dedicated player bases. Locally developed games also contribute to market expansion.

While established gaming franchises dominate popularity and revenue, indie developers steadily carve out a niche with experimental and artistic small-scale titles. The local video game development scene continues to grow, with the New Zealand Game Developers Association listing over 120 member studios in 2022. Government programs like the New Zealand Screen Production Grant also aim to nurture local talent.

With gaming cementing its place in pop culture globally and locally, the meteoric pace of market growth looks set to continue. Speed and performance are now table stakes for gaming hardware and infrastructure. The rollout of 5G networks promises lower latency and lag-free cloud gaming in the future. In parallel, video games as interactive edutainment engage audiences beyond traditional demographics. These dynamics offer an exciting roadmap for interactive entertainment across devices and geographies.

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