70+ Video Game Statistics You Need to Know in 2024: Market Growth, Emerging Trends, and More

In contemporary culture, video gaming has transcended its roots as mere entertainment to become a pivotal aspect of modern society. Its influence permeates how we engage, learn, and connect, offering unique insights into virtual collaboration and immersive storytelling.

Understanding the profound impact of video gaming is essential for businesses, marketers, and individuals seeking to navigate the evolving landscape of digital interaction and entertainment. By delving into video game statistics, we uncover the industry’s exponential growth, discern consumer behavior, and identify major video game market trends.

The wealth of information regarding video gaming statistics can often seem scattered across various reports and websites. To address this, we’ve meticulously curated a comprehensive list of 70+ video game industry statistics for 2024.

From gender gaming statistics to revenue figures, from emerging trends to technological innovations, this article provides a valuable resource for anyone seeking deeper insights into the dynamic world of video gaming.

Video Gaming Statistics Highlights

  • In 2023, the global revenue of the video game industry reached a total of $184.0 billion, with +0.6% growth year-over-year.
  • The worldwide count of video game players was roughly 3.38 billion in 2023.
  • In the same year,  the Asia-Pacific region boasted the highest number of gamers, accounting for 52% of the global gaming population in 2023.
  • Grand Theft Auto V, the best-selling console/PC-only game, has sold over 190 million units by November 2023, spanning three console generations and PC.
  • Video gaming addiction affects between 1.7% and 10% of the American population.
  • Minecraft sold over 300 million copies by October 2023 across gaming platforms.
  • Tetris remains an all-time bestseller, with 520 million copies sold across multiple platforms.
  • 32% of all developers in 2023 reported working for indie studios.
  • Gender gaming statistics show the average gamer age is 35. In 2022, there were about 1.7 billion male gamers and 1.39 billion female gamers.
  • AI is driving a revolution in game development, with 49% of developers saying they use these tools in their workplace.

Key Video Game Stats: User Engagement and Platform Usage

The gaming industry has experienced a significant surge in active users across various platforms.

In 2023, the global gaming community was estimated at around 3.31 billion, according to Newzoo’s Global Games Market Report.

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Mobile also made a substantial contribution in recent years, with mobile gaming statistics showing it accounted for 72% of the total video gaming revenue in 2023.

In console gaming, the PS2 has become the best-selling video game console of all time. As of February 2024, it had sold over 158 million units worldwide

Notably, Nintendo Switch emerged as the leading current-gen console in terms of overall unit sales, with over 137.7 million units shipped.

Average Time Spent Playing

The average time spent playing video games has remained more or less consistent over the last couple of years.

In 2022, 22% of US adults aged 18 to 29 years spent six to ten hours per week playing video games. A December 2023 survey found similar figures.

Weekly Time Spent Playing Video Games According to Adults in the United States, by Age Group
Characteristic 18-29 30-39 40-49 50-64
Less than 1 hour 12% 10% 10% 10%
1 to 5 hours 29% 27% 27% 25%
6 to 10 hours 22% 21% 18% 13%
11 to 15 hours 11% 14% 11% 7%
16 to 20 hours 7% 10% 9% 4%
More than 20 hours 8% 7% 7% 5%
Don’t know 3% 2% 4% 3%
I don’t play video games 8% 9% 15% 33%

Source: Statista, as of December 2023

In-Game Purchases

In-game purchases have evolved into a significant revenue stream for the gaming industry.

The global gamers spending on additional in-game content is projected to exceed $74.4 billion by 2025.

In 2023, in particular, revenue from in-game spending on mobile alone was estimated at $89.7 billion, constituting 97% of the segment’s global revenues. 

The residual 3% was attributed to full-game digital revenues, encompassing mobile adaptations of beloved retro franchises such as the early Final Fantasy titles.

Multiplayer Participation

Multiplayer gaming, allowing numerous players to engage simultaneously, has gained considerable traction.

These games often emphasize collaboration and teamwork, fostering player interaction. Massively multiplayer online games (MMOs) stand out, with their socialization aspect being a key driver of popularity.

Video Gaming Market and Industry Trends

The video gaming industry, expected to reach $256.97 billion by 2025, offers fertile ground for innovation and audience engagement for businesses and marketers alike.

Market trends within this dynamic industry are multifaceted, with one significant trend being the continual growth of digital game sales, which consistently outpace physical game sales.

In fact, a substantial 89.55% of games sold in 2023 had been digital downloads, while the remaining 10.45% were actual physical copies.

This shift towards digital platforms is propelled by the convenience of online stores and the increasing prevalence of digital-only games.

Category Type 2022 (£m) 2023 (£m) % Change
Games Physical 517.9 495 -4.42%
Digital 4090 4240 +3.67%
Total 4607.9 4735 +2.76%

How physical and digital games fared in 2022/2023. Source: Statista

Additionally, the slow (but constant) rise of indie games is noteworthy. 

These games, often developed by small teams or individual developers, have gained popularity due to their innovative gameplay mechanics and unique artistic styles.

According to the CDC’s 2024 State of the Game Industry Survey, 32% of developers in 2023 reported working for indie studios, followed by AAA and AA studios. 

The majority (57%) were employed at studios with 50 employees or fewer. As observed in previous years, larger studios typically have more extensive staff. Three-quarters (75%) of AAA developers worked in studios with over 250 employees, while an equal proportion of indie developers work in studios with 20 people or fewer.

2024 State of the Game Industry Survey
Source: 2024 State of the Game Industry Survey

In terms of marketing strategies within the gaming community, influencer partnerships and in-game advertising have proven highly effective. The global in-game advertising market, valued at $109.60 billion in 2024, is projected to reach $145.50 billion by 2027.

PC Market Continues to Grow

In 2023, the PC market reached new heights, achieving record-breaking revenues of $9 billion, 580 million units sold, 33.6 million peak online players, and 14,000 game releases on Steam.

In fact, the platform’s performance stood out significantly as new releases surpassed expectations, doubling in size since 2019.

Video Game Insights’s Global PC Games Market Report 2024
Source: Video Game Insights’s Global PC Games Market Report 2024

Furthermore, the quantity of games launched on Steam has shown rapid growth following the onset of COVID-19, nearly hitting the 14,000 mark by 2023.

More generally, 66% of games in development in 2023 were targeted for PC, with 35% focusing on PlayStation 5 and 34% on Xbox Series S/X.

2024 State of the Game Industry Survey
Source: 2024 State of the Game Industry Survey

Gaming’s Influence on Purchasing Behavior

The influence of video games extends to consumer purchasing decisions, with in-game advertising, virtual goods, and game-related merchandise playing significant roles in shaping gamer spending habits.

The global virtual goods market, valued at $81.13 billion in 2023, is expected to reach $294.13 billion in 2030.

Verified Market Research
Source: Verified Market Research

For example, in-game advertising exposes gamers to new products, influencing their perceptions and purchase decisions. Virtual goods, such as skins, weapons, and other in-game items, represent another major revenue source, with many gamers willing to spend real money to enhance their in-game experiences. Moreover, game-related merchandise, including clothing, collectibles, and hardware, contributes to the gaming industry’s economic impact.

In fact, a 2022 study suggests that 80% of active console gamers love to have keepsakes of their favorite games, while 54% of casual gamers also seek game-related keepsakes. 

Additionally, 41% of buyers purchase men’s or boy’s apparel as gifts, with another 35% shopping for themselves.

Content Trends and Virality in Gaming

Several crucial factors contribute to the success and widespread popularity of video games and gaming content.

Games that resonate with diverse audiences typically possess key attributes such as a compelling storyline, visually appealing graphics, intuitive controls, and meaningful long-term objectives.

The emergence of streaming platforms like Twitch has revolutionized gaming, with over 8.36 million active streamers in January 2024 and 76% of all gaming content streamed on Twitch alone in 2023

Twitch accumulated 2.86 billion hours of live streaming in 2023, and the most popular categories generated billions of viewing hours.

The audience for game live streaming is projected to hit 920 million viewers by 2024, with Twitch boasting over 140 million unique monthly viewers.

In the third quarter of 2022, leading platforms amassed around 7.2 billion hours of content watched.

Number of active streamers on Twitch worldwide from January 2018 to January 2024.
Number of active streamers on Twitch worldwide from January 2018 to January 2024. Source: Statista.

Moreover, according to the Game Transfer Phenomena (GTP) framework, the narratives embedded within games play a central role in their virality, fostering a sense of community among players and transcending digital boundaries to become ingrained in our collective consciousness.

Consequently, the convergence of engaging storytelling, innovative gameplay, and the influence of content creators and streaming platforms all contribute to the viral nature of gaming phenomena.

Video Gaming and Social Interaction

In recent years, video gaming has evolved beyond mere entertainment, becoming a vibrant social platform where connections flourish.

A 2023 Statista survey revealed that 88% of gamers acknowledged that video games facilitated connections with like-minded individuals expanding their social circles, while 82% reported forging new friendships and relationships through gaming.

In the United States, gaming has become ubiquitous, with four out of five consumers engaging in gaming activities in the last six months.

The survey further emphasized the social aspect of gaming, with 60% of US gamers stating that games help them stay connected to friends and family, with 50% even meeting significant others through gaming.

Share of video gamers in the United States who have made social connections through video games in 2023.
Share of video gamers in the United States who have made social connections through video games in 2023. Source: Statista.

The rise of social media and online communities has also catalyzed the formation of tight-knit gamer communities, transcending mere competition to foster genuine and enduring friendships.

The surge in gaming during the COVID pandemic, in particular, underscored its role as a vital avenue for connection in times of isolation.

The Impact of Gaming on Mental and Physical Health

The impact of gaming on both mental and physical well-being is a complex subject that has drawn considerable attention in recent years.

According to a 2022 University of Oxford study, there’s a positive correlation between gaming and overall well-being.

However, gaming can also pose physical risks. Common overuse injuries like carpal tunnel syndrome and “gamer’s thumb” are prevalent among gamers. 

Moreover, increased gaming time has been associated with higher body mass index and lower self-reported general health status.

Additionally, video gaming addiction statistics from 2023 have shown that between 1.7% and 10% of the American population suffer from these issues.

Despite these potential drawbacks, certain studies suggest that video games can have positive effects in realms such as physical therapy.

In fact, a global survey outlined in the latest Power of Play report found that the majority of the 12,847 players surveyed across 12 countries believe that video games aid in stress reduction (71%), alleviating anxiety (61%), and combating feelings of isolation (55%). 

Many respondents also noted that video games offer a healthy outlet (64%), contribute to their happiness (63%), and assist in navigating challenging times (52%).

Additionally, two-thirds (67%) reported that video games have facilitated the formation of new friendships and relationships.

Percentage of players saying that playing video games reduces stress, anxiety and feelings of isolation.
Percentage of players saying that playing video games reduces stress, anxiety and feelings of isolation. Source: Power of Play.

Global Gaming Population

In the third quarter of 2023, gender gaming statistics revealed that 89.6% of female internet users and 92.6% of male internet users aged 16 to 24 globally engaged in video gaming across various devices. 

This figure declined with age, with 85.2% of women and 89.1% of men aged 25-34, 80.2% of women and 85.1% of men aged 35-44, 74.5% of women and 79.9% of men aged 45-54, and 69.6% of women and 70.8% of men aged 55-64 participating in video gaming.

Share of internet users worldwide who play video games on any device as of 3rd quarter 2023, by age group and gender.
Share of internet users worldwide who play video games on any device as of 3rd quarter 2023, by age group and gender. Source: Statista.

Regarding console gaming, UK gaming statistics from September-November 2022 found that nearly three in ten male respondents in the country had experience playing games on gaming consoles.

Meanwhile, in the United States, as of December 2023, approximately 41% of regular console gamers were female, according to respondents.

Video game usage statistics also show the Asia-Pacific region boasts the highest number of gamers, accounting for 52% of the global gaming population in 2023, totaling over 1.7 billion players.

2023 Global players per region.
2023 Global players per region. Source: Newzoo.

2023 Global players per region. Source: Newzoo.

The expansion of the gaming population can be attributed to various factors, including technological advancements such as mobile gaming, online multiplayer platforms, and the integration of virtual and augmented reality.

Cultural shifts towards greater acceptance of gaming and improved representation of diverse cultures and backgrounds in games have also contributed to this growth.

Enhanced accessibility options in gaming have also broadened its reach, making it more inclusive for individuals with disabilities.

Annual Revenue

The video game industry has long been a significant contributor to the global economy, raking in billions of dollars in revenue. In 2022, the worldwide gaming market hit nearly $347 billion, with mobile gaming accounting for around $248 billion of that sum.

By November 2023, Nintendo led the global gaming market with a market cap of $53.69 billion, followed by Electronic Arts at $35.96 billion. 

Notable contenders included Take-Two Interactive Software, Inc. with $26.26 billion and Roblox Corporation with $23.65 billion.

Roblox Corporation, debuting on the public market on March 10, 2021, boasted a staggering $37 billion market cap on its initial trading day.

Despite experiencing significant declines in 2022 and 2023, it maintained its status as one of the industry’s major players.

Activision Blizzard, once dominant, faced a decline in value due to legal issues, dropping to nearly $46.98 billion by October 2021. However, a resurgence occurred in early 2023, with its market cap reaching $67.06 billion. Microsoft’s acquisition of the company in January 2022 led to its delisting in October 2023 following regulatory approvals.

As of the end of 2023, however, Tencent stood as the number one gaming company in terms of world revenues, with a whopping $7,442 million. Sony, Apple and Microsoft followed well behind.

Top public companies by game revenues as of 2023.
Top public companies by game revenues as of 2023. Source: Newzoo.

Generally speaking, revenue in the video game industry flows from various sources, including game sales, in-game purchases, subscriptions, advertising, and esports. 

Free-to-play (F2P) games, which are initially free and generate income through ads, in-game transactions, and optional purchases, make up a significant portion of gaming revenue.

At the same time, the industry has experienced notable growth and fluctuations, particularly expanding by 14.2% between 2022 and 2023.

This surge was driven by social and casual gaming as millions sought solace in gaming during the COVID-19 lockdowns.

Mobile gaming industry statistics show this segment alone is projected to rake in a revenue of $98.74 billion in 2024.

Looking to the future, the video game industry is expected to maintain its growth trajectory.

Projections suggest that by 2025, the global gaming industry will be valued at $321 billion, with the video games market hitting a revenue of $282.30 billion in 2024. 

This growth, expected to continue at an annual rate of 8.76% between 2024 and 2027, is driven by ongoing technological advancements, the rise of high-bandwidth network connectivity, and the persistent demand for immersive gaming experiences.

Popular Platforms and Titles

The popularity of video games is fueled by various factors such as population growth, expanding demographics, improved accessibility, social interaction, and evolving cultural perceptions.

Some platforms have garnered substantial followings over the last few years.

The PlayStation 5 has seen sales of around 46.6 million units worldwide, while the Xbox Series X and Series S are behind that figure, selling roughly 21 million units

Meanwhile, the Nintendo Switch led the pack, having sold over 132.5 million consoles worldwide since its launch in 2017.

In terms of streaming platforms, Twitch stands out, with roughly 8.36 million active streamers as of January 2024. 

YouTube Gaming, though not on par with Twitch’s popularity, also boasts a significant user base, with an average of 544 thousand concurrent viewers in the third quarter of 2022.

In 2024, the video game landscape is defined by standout titles.

Grand Theft Auto V, the best-selling console/PC-only game, has sold over 190 million units by November 2023, spanning three console generations and PC. 

Lifetime unit sales generated by Grand Theft Auto V worldwide as of February 2024 (in millions).
Lifetime unit sales generated by Grand Theft Auto V worldwide as of February 2024 (in millions). Source: Statista.

Minecraft, with over 300 million copies sold by October 2023, transcends gaming into various other mediums. 

Tetris remains the all-time bestseller, with 520 million copies sold across multiple platforms since its initial release.

As of January 2024, the most played games on Steam by average concurrent players include “Counter Strike 2”, “Dota 2”, “PUBG: BATTLEGROUNDS”, “Baldur’s Gate 3”, and “Team Fortress 2”.

Video Games Job Market Stats: Most Common Roles

In a 2023 survey, the most prevalent roles in the games industry were game designers and programmers, accounting for 34% and 33% of respondents, respectively. 

Following closely behind were production and project management roles, constituting 31% of respondents.

Additional notable roles included business and finance at 20%, visual arts at 19%, and narrative/writing, accounting for 14%.

2024 State of the Game Industry Survey
Source: 2024 State of the Game Industry Survey

Emerging Video Game Industry Trends

The video game industry is dynamic and continually evolving, driven by new trends and technologies that shape its future. Here are some of the most significant emerging trends and their current impact and potential implications for the industry.

Immersive Technologies: VR, AR, and MR Gaming

Virtual reality (VR), augmented reality (AR), and mixed reality (MR) are revolutionizing the gaming landscape with their immersive experiences.

US gaming statistics from 2023 suggest the country boasted 65.9 million VR users and 110.1 million AR users, with an estimated 171 million VR users worldwide.

Projections indicate that by 2027, both AR and VR will surpass 100 million users globally. These technologies blur the lines between virtual and real worlds, offering gamers unprecedented levels of immersion and interaction.

Blockchain Integration Declines

Blockchain technology has become another force in the gaming industry, offering security, reliability, and efficiency in gameplay and transactions.

In some cases, it has facilitated secure transactions, mitigated fraud, and empowered players in virtual economies.

However, despite its promising growth in recent years, blockchain gaming investments in the video game industry experienced a notable decline in 2023.

The total investment value amounted to $1.4 billion, marking a significant 72% decrease from the previous year. 

This downturn coincided with 214 disclosed blockchain investments in video gaming companies throughout the year.

However, it’s crucial to note the broader context of blockchain’s impact.

According to Grand View Research, investments in these technologies are expected to expand at a compound annual growth rate (CAGR) of 68.3% from 2023 to 2030.

Grand View Research
Source: Grand View Research

At the same time, recent data shows most developers are losing interest or trust in these technologies.

2024 State of the Game Industry Survey
Source: 2024 State of the Game Industry Survey

Source: 2024 State of the Game Industry Survey

Cross-Platform Gaming

According to Newzoo’s 2023 PC & Console Gaming Report, players who engage across multiple platforms—PC, console, and mobile, referred to as “tri-platform players”—are demonstrating higher levels of engagement and expenditure in gaming

The study reveals that nearly one in four PC and/or console gamers participate across all three platforms, indicating a significant segment within the gaming community investing considerable time and financial resources.

This data suggests that utilizing multiple platforms correlates with increased playtime and spending.

Moreover, demographic insights show that 62% of these tri-platform players are male, with 46% falling between the ages of 10 and 25. 

Their preferred pastimes include playing video games (67%), watching films and TV series (57%), and listening to or playing music (49%).

Among this group, adventure emerges as the most favored genre across any device.

Newzoo
Source: Newzoo

AI Tools Are Transforming Game Development

Over the past year, the popularity of Generative AI technology has surged, driven by platforms like ChatGPT, GitHub Copilot, and Midjourney, which have expanded accessibility and adoption.

More companies have increasingly been allocating resources to this space.

CDC’s survey results show that 49% of developers incorporate Generative AI tools into their workplace, with 31% personally utilizing them and 18% reporting their colleagues’ usage. 

However, a quarter expressed no interest in leveraging these tools.

2024 State of the Game Industry Survey
Source: 2024 State of the Game Industry Survey

At the same time, while developers seem uncertain about the industry impact of Generative AI, they hold strong convictions regarding its ethical implications.

A significant majority (84%) expressed some level of concern about the ethical implications of using Generative AI, contrasting with the 12% who reported having no concerns.

Challenges in the Games Industry Workforce

The games industry has faced significant layoffs in recent years.

In 2023, approximately 10,500 game industry workers lost their jobs, and this trend has persisted into 2024. Within the first two months of the year, over 7,800 layoffs were announced. 

Major players like EA and Unity Software have contributed to these figures, with EA cutting 5% of its workforce and Unity Software laying off nearly 25% of its staff.

These layoffs have deeply affected the industry and its workers, highlighting a difficult period for the games industry.

The Bottom Line: Looking into the Future of the Games Industry

As the gaming industry continues to evolve, driven by technological advancements, shifting market dynamics, and changing consumer preferences, it stands at a pivotal juncture poised for unprecedented growth and innovation.

Embracing emerging trends such as immersive technologies, blockchain integration, and the rise of indie games while addressing challenges in the workforce and regulatory landscape will be paramount for industry stakeholders.

By staying agile, adaptable, and attuned to the needs and expectations of gamers worldwide, the gaming industry can navigate the complexities of the future with resilience and ingenuity, ensuring its continued relevance and significance in the digital age and beyond.

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Alessandro Mascellino
Technology Journalist

Alessandro is a multimedia journalist who has spent five years freelancing for several publications, including Techopedia, Infosecurity Magazine, The Independent, and Android Police. Specializing in the realms of emerging technology and video games, he has recently established his own game studio. As a narrative designer, he specializes in creating games where your choices shape the unfolding story, and is is currently working on a game project.