The gaming market is now estimated to be worth over US$256 billion by 2025
According to the analyst group New Zoo, the total number of gamers worldwide grew to 2.7 billion in 2020, generating US$159.3 billion for this market this year. Of these, a surprising 2.6 billion were reported to be mobile gamers.
This majority is apparently due to the relatively low barrier of entry into the market; OEMs and chip-makers in that sector do often gear their designs and marketing towards gaming proficiency, after all. Their section of the market may be responsible for up to $77.6 billion of the global gaming revenue by the end of 2020 (a 13.3% year-on-year growth), even though only an estimated 38% of the users in question played paid titles.
These pursuits were found to be a source of readily-accessible "escapism" and entertainment for users in 2020. Therefore, New Zoo now projects that the market will cross the US$200 billion threshold by 2023.
Indeed, another research group called Mordor Intelligence has released estimates pointing to a value of US$256.97 billion by 2025.
This may be attained through the increased prominence of online gaming: Mordor has also found that 29% of gamers in the US polled reported spending more time doing so to connect with friends during 2020 lockdown or quarantine periods.
In terms of cloud gaming, its services arm has been found to be led by companies such as T5-Labs, G-Cluster, Gaikai, and Onlive, this last of which has secured contracts from clients such as Disney Interactive, Epic Games, Atari, Sega and Ubisoft to distribute their titles via streaming.