Multiplayer games, mobile games and the population of casual gamers all are expected to continue to expand.
Moreover, global internet availability will continue to rise, enabling more people to play online games. Console makers are also launching new hardware with better capabilities and offering more exclusive game titles. In addition, from 2016 to 2021, gaming grew at a compound annual growth rate of 15.6%.²Īmid the rapid growth of gaming, its basic drivers are still familiar: processors are getting faster, improving graphics and the overall gaming experience.
The state of the gaming industryĪn estimated 2.9 billion people - more than one out of every three people on the planet - played a video game in 2021,¹ when global revenue for the industry exceeded $193 billion (see Figure 1). With this in mind, we recently surveyed a group of executives from leading gaming companies to gain their insights about the impact of and outlook for the metaverse. While many believe that the metaverse will eventually be pervasive throughout society, including in the business world and on social media, gaming has quickly become a first mover in this space. Video gaming is also on the verge of a major transformational shift due to the emergence of the metaverse - a shared, persistent, three-dimensional (3D) virtual realm where users interact with objects, the environment and each other through digital representations of themselves or avatars. Over the last five years in particular, it has experienced significant expansion as users worldwide play games of all types across a variety of platforms. Since its inception decades ago, the video gaming industry has grown with stunning speed. Gaming companies are entering a new dimension, no longer bound by place, time or physical reality.
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