Game Industry Usage and Revenue Statistics 2023

Last Updated: July 2024

Are you looking forward to starting a gaming business? It would be a great idea because the game industry is one of the top emerging industries with a compounded annual growth rate (CAGR) of 13.20%, that’s huge!

The reason behind this growth is the inclination of youth toward gaming. As per research, 91% of Gen Z males and 84% of millennials play video games regularly. Additionally, mobile users are increasingly inclined towards gaming to spike demand.

In this post, we have put together the latest facts and trends in the gaming industry.

Stay tuned!

Contents in this post are as follows:

Key Gaming Industry Statistics 2023

Game Industry Revenue 2023

Gaming industry revenue by country

China generated the most revenue in the gaming industry accounting for $45.8 billion in 2022, followed by the USA with $45 billion and Japan with $20 billion in revenue in 2022.

Gaming industry revenue by country
Source: Newzoo.com

Related: Beauty Industry Revenue and Usage Statstics

Gaming industry revenue worldwide

The gaming industry is projected to generate a revenue of $365.6 billion in 2023. Most revenue will come from China at 105.9 billion in 2023.

Furthermore, the gaming industry’s average revenue per user (ARPU) is projected to stand at $137.80 in 2023.

Gaming industry revenue by platform

Mobile games generated the most revenue for the global gaming industry at $92.2 billion in 2022. Console games also generated a significant amount – $51.8 billion of revenue. Downloaded PC games and browser PC games generated $38.2 billion and $2.3 billion in revenue respectively.

Gaming industry revenue by platform
Source: Statista

Largest gaming company by revenue 2023

As of now, Tencent is the largest video game company globally when it comes to revenue. The Chinese tech giant generated $83.64 billion in revenue last year.

After Tencent, Japan-based SONY is the largest gaming company worldwide by revenue. SONY generated $80.87 billion of revenue last year. NetEase, Nintendo, and Sea ranked 3rd, 4th, and 5th with $14.42 B, $13.79 B, and 12.22 B of revenue in 2022.

The top video game companies are as follows:

Company NameRevenue ($ Bn)Country
Tencent83.64China
SONY80.87Japan
NetEase14.42China
Nintendo13.79Japan
Sea (Garena)12.22Singapore
Bandai Namco7.57Japan
Activision Blizzard7.35USA
Electronic Arts7.28USA
GameStop5.95USA
CyberAgent5.53Japan

Source – Companiesmarketcap.com

Game consoles sales statistics

Sony’s revenue from PlayStation

Sony generated $4.87 billion in revenue in Q2 2022 from its gaming and network services segment, an increase of 11.6% Y-o-Y.

Playstation revenue breakdown:

  • Game sales amounted to $2.5 billion
  • PS4 and PS5 console sales $1.21 billion
  • Network services (PS Plus, PS Now, and others) reached $791 million in revenue.
    Source: sie.com

Microsoft revenue from Xbox

Microsoft Xbox console game series generated a revenue of $4.79 billion in 2020. The revenue is estimated to reach $8.55 billion in 2023.
Source – Statista

Nintendo Switch revenue

Nintendo generated a revenue of $9.4 million in the quarter ending Dec 2022. The company sold 5.22 million units of the base Nintendo Switch console in the same quarter, a 55.7% drop from the same period last year. However, Nintendo sold a record-breaking 7.69 million units of the Switch OLED model during the same period, a 92.5% increase Y-o-Y.
Source – Nintendo

Video game sales statistics 2022

Video game industry revenue by year

Video game content generated $47.48 billion of revenue in 2022, a 6.6% decrease from $50.83 billion of revenue in 2021.

Video game industry revenue by year
Source: Statista

Video game subscription revenue 2023

Consumer spending on video game subscriptions is expected to reach $8.5 bn in 2023. Furthermore, Video game subscription revenue is projected to reach $11 billion by 2025.

Video game subscription revenue
Source: Statista

Game consoles sales statistics

Sony PlayStation 2 is the most-sold gaming console ever with over 155 million units sold. Followed by Nintendo DS and Switch with 154.02 million and 122.55 million units sold respectively.

PlatformUnits sold (million)
PlayStation 2>155
Nintendo DS154.02
Nintendo Switch122.55
Game Boy & Game Boy Color118.69
PlayStation 4117.2

Source – Wikipedia

Mobile gaming statistics – revenue

Mobile games generate the most revenue for the gaming industry. The mobile gaming revenue amounted to $92.2 billion in four quarters of 2022. Revenue for Q3 2022 accounted for $19.3 billion.

Mobile gaming statistics – revenue

Source – BusinessofApps

Online gaming statistics – revenue

Online gaming revenue amounted to $119 billion in 2022 and is expected to reach $153 billion in 2024.

Online gaming statistics – revenue
Source: Statista

Gaming Industry Usage 2022

Gaming industry demographics

Gaming industry demographics

  • Male gamers: 8% – 18-24 years old | 47% – 25-44 years old | 2% – aged 45+
  • Female gamers: 2% – 18-24 years old | 12% – 25-44 years old | 28% – aged 45+
  • All gamers: 10% – 18-24 years old | 59% – 25-44 years old | 31% – aged 45+
    Source – Intenta Digital

Is gaming a male-dominated industry?

Not really, the ratio of male to female gamers is fairly equal. PwC’s UK Quantibus survey shows that 51% of women game in some capacity compared to 53% of men, a 10% increase from the beginning of the pandemic. Additionally, 84% of women gamers are now playing at least once a week.

Source – PwC UK

What percentage of gamers are female?

The percentage of female gamers is increasing. In 2022, women accounted for 48 percent of gamers in the United States, up from 45 percent of U.S. gamers identifying as women during the previous year.

What percentage of gamers are female?
Source: Statista

Which demographic group spends the most money on gaming?

Gen Alpha and Gen Z are the generation with the largest percentage of console and mobile players, followed by Millennials. Meanwhile, Millennials, who spend $112 a month on gaming, prefer PC gaming.

Source – Financesonline.com 

What is the target demographic for Video Games?

38% of gamers still belong to the 18-34 age group, and 6% are from the 65 years old and above demographic (ESA, 2020).

Source – Financesonline.com

How many gamers are there in the world in 2023?

Newzoo reports there were 2.69 billion gamers in the world by the end of 2020. Growth has been steady with an average of 5.6% year-on-year (YoY) increase. 

The number of worldwide gamers is forecasted to reach 3.07 billion by the end of 2023 at a CAGR of 5.7%.

gaming-players-worldwide
Source: Newzoo.com

Global gamers per region

Asia Pacific region had the highest number of gamers with 1447 million in 2020. Have a look at the chart below.

global-gaming-players-country
Source: Newzoo.com

Gaming Industry Worth 2023

How much is the gaming industry worth worldwide?

The gaming industry is worth $257.1 billion in 2023. Have a look at the yearly data below.

gaming-revenue
Source: PWC Global

How much is the video game industry worth worldwide?

In 2021, total video games revenue (excluding esports) reached $214.2 bn, and it will rise at an 8.4% CAGR to US$321.1bn in 2026.

Source – PWC Global

Video Game Industry Growth Since 1970s

history-of-gaming-industry
Source: Visual Capitalist

At what rate is the gaming industry growing?

The global gaming market is projected to grow from $229.16 billion in 2021 to $545.98 billion in 2028 at a CAGR of 13.20% in the forecast period, 2021-2028.

Source – Fortune Business Insights

How much is the video game industry worth in 2025?

As per PWC research, Gaming Industry is expected to be worth $299.9 bn in 2025.

How Big is the Gaming Industry Compared to Other Industries?

Gaming Industry vs Entertainment Industry

“Gaming is the most dynamic and exciting category in entertainment across all platforms today,” Satya Nadella, CEO of Microsoft.

Top seller and gross earnings

 Gaming IndustryEntertainment Industry
Top SellerGrand Theft Auto VAvatar
Gross Earnings$6 bn$2.8 bn

Source – thc-pod.com

Gaming Industry vs Entertainment Industry – Revenue

As per Statista, the Game industry generates more revenue annually than filmed entertainment and music industry revenue combined.

Estimated global revenue from video games, books, filmed entertainment, and recorded music in 2021:

gaming-vs-entertainment-industry

Source: Statista

Does The Gaming Industry Offer Customer Support?

Navigating the vast landscape of the gaming industry, you’ll find a robust system of customer support tailored to your needs. Whether you encounter technical glitches or seek guidance on gameplay, responsive assistance is readily available. Through various channels, including live chat, your gaming experience is enriched with timely solutions and personalized help, ensuring you can fully immerse yourself in the virtual realm hassle-free.

Conclusion

Favored by Gen Z and Millennials, the Gaming industry has seen significant growth in the last few years and is also expected to continue the rapid growth at a CAGR of 13.5 percent.

Furthermore, the male gender dominance in the market is also disappearing, with 48% of total gamers in the USA being female in 2022. And compared to the entertainment industry, the Gaming industry generated more revenue than the Hollywood and Music industry combined. 

So, it is indeed a great time to invest in the gaming industry if you are looking forward to it.