The video game industry is leveling up in spectacular fashion. With an expected 6% annual growth, the market is projected to surge past $250 billion by 2028, according to Bain & Company. In 2023 alone, it raked in $196 billion—outperforming both streaming and box-office revenues combined.
What’s fueling this meteoric rise? A gaming revolution that transcends traditional consoles and PCs. Mobile gaming, cloud platforms, and immersive virtual reality (VR) experiences are at the forefront, offering something for every type of player—from casual smartphone users to hardcore VR adventurers.
“We’re witnessing a massive shift in entertainment consumption,” says Daniel Hong, global leader of Bain’s Media & Entertainment practice. “Young people are spending more time gaming and less time on video and other media.”
Gaming: The New Social Frontier
Video games have become more than just a pastime—they’re a social lifeline. The pandemic accelerated this shift, turning virtual worlds into gathering places where friends meet, chat, and even shop. Bain’s study reveals that 52% of people across all age groups play games regularly. Unsurprisingly, young players dominate: 80% of those aged 2 to 18 consider themselves gamers, spending about 30% of their entertainment hours in digital realms.
“Players today want more than great graphics,” Hong explains. “They’re craving immersive, seamless experiences across devices and platforms.”
The Rise of Player-Created Worlds
A major trend transforming the industry is user-generated content (UGC). Titles like Minecraft and Roblox empower players to craft their own worlds, fostering creativity and community. An impressive 79% of gamers actively engage with UGC, and this figure is poised to grow as generative AI tools make game customization even more accessible.
The power of gaming influencers cannot be overlooked. Streamers with millions of followers have turned their passion into careers, driving engagement and boosting game popularity.
Gaming: The Hub of Modern Life
Today’s gamers do more than just play—they socialize, watch videos, and shop within game environments. Bain’s research shows that players who participate in diverse in-game activities tend to spend more, highlighting the industry’s evolution into a broader entertainment ecosystem.
Moncef Maghrebi, a partner at Bain & Company, sees this as a pivotal moment. “To stay competitive, companies must deepen customer relationships and rethink how they engage with players and competitors. The key is adapting to emerging technologies and creating more connected experiences.”
Spotlight on MENA: The Fastest-Growing Market
One region leading the charge is the Middle East and North Africa (MENA), where the gaming market is expanding at a jaw-dropping 25% annually—three times the growth rate of China. This rapid rise underscores the global appeal of gaming and its potential to unlock new opportunities in untapped markets.
As the industry continues to evolve, one thing is clear: gaming is no longer just about play—it’s about connection, creativity, and commerce. With innovation at its core, the global video game market is set to dominate the future of entertainment. 🎮✨
