Gaming Trends: Video Game Industry Growth Statistics

VR gaming technology is immersing players in alternate realities during a period of rapid technological evolution, raising questions about the future of gaming. Key trends include significant growth in mobile gaming, with consumer spending projected to reach $117 billion by 2023, and a notable increase in social gaming, as 84% of gamers report that video games help them connect with others. The gaming demographic is diverse, with nearly equal representation of male and female players and an increase in players across various age groups. Mobile gaming dominates the market, accounting for 52% of gaming, while PC and console gaming trail behind. The global gaming market is predicted to grow to $218.8 billion by 2024, with the Asia-Pacific region leading in gamer population and spending. The COVID-19 pandemic boosted gaming activity, and while the initial surge has stabilized, the industry continues to grow, emphasizing the importance for companies to integrate social and communication features in their games.