Subscription-based Gaming Market Worth $24.1 Billion By 2030: Grand View Research, Inc.

News provided by

15 Nov, 2022, 12:30 GMT

SAN FRANCISCO, Nov. 15, 2022 /PRNewswire/ -- The global subscription-based gaming market size is anticipated to reach USD 24.1 billion by 2030, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 12.8% from 2022 to 2030. The increasing adoption of various technological advancements such as AI-based rendering, the usage of big data, and the metaverse is expected to create growth opportunities for subscription-based gaming service providers in the global market. In April 2021, Facebook launched the Oculus Quest 2 standalone wireless virtual reality headset for USD 300, which had 50% more pixels than the previous model. Moreover, the market is witnessing a rise in popularity owing to factors such as the growth of the mobile gaming industry and the increase in penetration of high-speed internet. For instance, in 2022, according to a Gaming Spotlight 2022 report, mobile gaming accounted for USD 136 billion out of a total of USD 222 billion gaming market.

Key Industry Insights & Findings from the report:

In the device type segment, P.C. dominated the market with a share of over 55.0% in 2021. This is attributed to the increasing demand for cloud gaming and game content. For instance, according to the data published in 2021 by Ampere Analysis, an entertainment industry-specific research firm, the market for PC subscriptions for cloud gaming and game content in North America and Europe was valued at USD 3.7 billion, which grew by 57% compared to 2020. The smartphone segment is expected to register the highest CAGR of 16.8% over the forecast period owing to increasing consumer spending. For instance, according to a study published by IDC and data.ai in March 2022, consumers spent more than USD 1.6 billion every week on mobile games on the Google Play store as well as the iOS App Store in the first quarter of 2022.
The action segment dominated the market with a share of over 20.0% in 2021. According to ESAC in 2022, the most popular categories were adventure and action preferred by 24% of adults and 33% of children and teenagers. The adventure genre is expected to register the highest CAGR of 13.5% over the forecast period owing to the launch of a wide range of new games in the adventure genre such as God of War Ragnarok and Star Ocean in 2022, 2023, and beyond.
Asia Pacific held the largest share of over 40.0% in 2021 and is expected to exhibit the highest CAGR over the forecast period. The growth of the regional market can be attributed to growth in the subscription of mobile and internet. In 2022, according to the GSMA report, in the developed Asia Pacific region, which includes Australia, Japan, Singapore, and South Korea, the percentage of 5G subscribers will grow by an average of 67%

Read 145-page market research report, "Subscription-based Gaming Market Size, Share & Trends Analysis Report By Device Type (Smartphone, P.C., Console), By Gaming Genre (Action, Adventure), By Region, And Segment Forecasts, 2022 - 2030", published by Grand View Research.

Subscription-based Gaming Market Growth & Trends

The COVID-19 pandemic had a positive impact on the market. A global increase in COVID-19 cases slowed the economy, and many corporations were shutting down as a result of partial or total lockdown. However, despite the pandemic, video gaming firms continued to provide their services. The pandemic resulted in an increase in data usage globally, for instance, according to Verizon Networks data consumption for gaming purposes saw an increase during the pandemic. There was a 75% increase in data consumption from March 8 to 15 in 2020, which indicated that many people used gaming as a means to spend their time. The use of virtual private networks (VPNs) climbed by 34%, while online traffic increased by 20% and video bandwidth consumption by 12%.

Subscription-based Gaming Market Segmentation

Grand View Research has segmented the global subscription-based gaming market by device type, gaming genre, and region

Subscription-based Gaming Market - Device Type Outlook (Revenue, USD Million, 2017 - 2030)

Smartphone
P.C.
Console
Others

Subscription-based Gaming Market - Genre Outlook (Revenue, USD Million, 2017 - 2030)

Action
Adventure
Shooting
Fighting
Role-playing
Sports
Racing
Others

Subscription-based Gaming Market - Regional Outlook (Revenue, USD Million, 2017 - 2030)

North America

U.S.
Canada

Europe

U.K.
Germany
France
Italy
Spain
Netherlands

Asia Pacific

Japan
China
India
Australia

Latin America

Brazil
Mexico
Argentina
Chile

Middle East & Africa

United Arab Emirates (UAE)
Saudi Arabia
South Africa

List of Key Players of Subscription-based Gaming Market

Amazon Inc.
Apple Inc.
Electronic Arts Inc.
Humble Bundle
Blacknut
NVIDIA Corporation
Microsoft Corporation
Google LLC
Ubisoft Entertainment
Sony Interactive Entertainment Inc.

Check out more related studies published by Grand View Research:

Gaming Market - The global gaming market size is anticipated to reach USD 504.29 billion by 2030, exhibiting a CAGR of 10.2% during the forecast period, according to a new report published by Grand View Research, Inc. growth prospects can be credited to the increasing popularity of mobile gaming, esports and online streaming of games. Multiplayer gaming has enhanced the gaming experience as it allows players to interact with each other and has fueled the growth of the gaming industry.
Gaming Simulator Market - The global gaming simulator market size is expected to reach USD 9.99 billion by 2027, according to a new study by Grand View Research, Inc. It is expected to expand at a compound annual growth rate (CAGR) of 12.1% from 2020 to 2027. The increasing popularity of gaming coupled with the continued introduction of innovative VR headsets that can potentially enhance the graphics experience is expected to drive the growth of the market over the forecast period. The growing preference for realistic gaming experience among gamers also bodes well for the growth of the market.
Cloud Gaming Market - The global cloud gaming market size is estimated to reach USD 20.94 billion by 2030, registering a CAGR of 45.8% from 2022 to 2030, according to a new report by Grand View Research, Inc. As cloud storage has gained a more secure position over onsite storage, this has affected the gaming industry. Through cloud gaming services, gamers can access high-quality interactive games remotely without bearing the additional cost of expensive computer systems. The growing number of gamers globally has directed affected the market.

Browse through Grand View Research's Next Generation Technologies Industry Research Reports.

About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

Contact:

Sherry James
Corporate Sales Specialist, USA
Grand View Research, Inc.
Phone: +1-415-349-0058
Toll Free: 1-888-202-9519
Email: sales@grandviewresearch.com
Web: https://www.grandviewresearch.com
Grand View Compass | Astra ESG Solutions
Follow Us: LinkedIn | Twitter