🗣️Market
Market Analysis
The global gaming market is expected to reach $218.8 billion by 2023, growing at a CAGR of 10.2% from 2020 to 2023. The growth of the gaming market is being driven by the increasing popularity of mobile gaming, the growing adoption of cloud gaming, and the rising popularity of esports.
Revenue
The global GameFi (play-to-earn) market is expected to reach $10 billion by 2024, growing at a CAGR of 400% from 2021 to 2024. The growth of the GameFi market is being driven by the increasing popularity of play-to-earn games, the growing adoption of blockchain technology, and the rising interest in the metaverse.
The Top 5 GameFi Games of 2021
The top 5 games in terms of trading volume, according to Footprint Analytics, were:
DeFi Kingdoms: A play-to-earn game based on Harmony, with a variety of functions that allow users to earn while they play and have a great experience.
Axie Infinity: With a unique economic model, providing liquidity based on rarity, it was the first game that started exploding and made GameFi popular.
Bomb Crypto: A play-to-earn game where the player manages a group of bomb heroes to fight monsters and anyone can earn tokens by playing skillfully and contributing to the ecosystem.
Elfin Kingdom: A decentralized financial farm and non-fungible token with gamification elements merged into a gaming platform to earn revenue. However, this game is still in its early days and has not yet had an IDO (Initial Digital Assets Offering).
Nine Chronicles: A free-to-play RPG that uses its own blockchain and cryptocurrency.
Industry Segmentation
The gaming industry can be segmented by platform, genre, and monetization model.
Platform: The gaming industry can be segmented into PC, console, mobile, and arcade. PC gaming is the largest segment, followed by console gaming. Mobile gaming is the fastest-growing segment.
Genre: The gaming industry can be segmented into action, adventure, role-playing, simulation, strategy, and sports. Action games are the most popular genre, followed by adventure games.
Monetization model: The gaming industry can be segmented into subscription, free-to-play, and pay-to-play. Free-to-play is the most popular monetization model, followed by subscription.
Market Trends
The gaming industry is constantly evolving, and there are a number of trends that are shaping the market. Some of the key trends include:
The rise of mobile gaming: Mobile gaming is the fastest-growing segment of the gaming industry. The increasing popularity of smartphones and tablets has led to a surge in the number of mobile gamers.
The growth of esports: Esports is a competitive form of video gaming that is becoming increasingly popular. Esports tournaments are now attracting millions of viewers, and some professional gamers are earning millions of dollars in prize money.
The adoption of blockchain technology: Blockchain technology is beginning to be adopted by the gaming industry. Blockchain can be used to create secure and transparent gaming ecosystems, and it can also be used to create play-to-earn games.
The rise of the metaverse: The metaverse is a virtual world that is being created using virtual reality (VR) and augmented reality (AR) technology. The metaverse has the potential to revolutionize the gaming industry, and it is already being used by some gaming companies to create new and immersive experiences for players.
Market Leaders
Some of the leading companies in the gaming industry include:
Tencent: Tencent is a Chinese technology company that is the largest gaming company in the world. Tencent owns a number of popular gaming brands, including Riot Games (League of Legends), Epic Games (Fortnite), and Supercell (Clash Royale).
The gaming industry is a rapidly growing and evolving industry. The market is being driven by a number of factors, including the increasing popularity of mobile gaming, the growth of esports, the adoption of blockchain technology, and the rise of the metaverse. The leading companies in the gaming industry are well-positioned to capitalize on these trends and continue to grow their businesses.
Last updated
