Bain – Gaming Report, 2024

The global video game market is experiencing significant growth, with younger players leading the charge by spending more time on games and less time on other forms of entertainment. Players are seeking immersive experiences and increased interoperability across devices and platforms. The industry is seeing a shift as players become more invested in the game itself rather than the device used to play it. Companies in the gaming industry are evolving to compete with technology and media giants, recognizing the importance of adapting to changing player preferences. The market for video games generated $196 billion in revenue in 2023, surpassing revenue from streaming and box-office sectors. Bain forecasts a 6% annual growth in the industry through 2028, driven by the preferences of 2- to 18-year-old gamers who spend a significant portion of their entertainment time playing games. Gamers are not just playing but also socializing, shopping, and consuming media within game environments, with a focus on user-generated content and collaboration.