Market Analysis
Last updated
Last updated
The global gaming market has exploded in recent years, driven by mobile gaming, multiplayer online battle arenas, and innovations like virtual reality.
According to Newzoo, the global gaming market generated revenues of $175.8 billion in 2021. This is forecasted to grow to $218.8 billion by 2024, rising at a 9.0% CAGR.
Several factors are propelling market growth:
Live services and in-game spending: Virtual goods, skins, and loot boxes generated revenues of $74 billion in 2021.
Viewership boom: Over 728 million people watched gaming content in 2021. Esports audiences are rising fast.
Advanced technologies: VR/AR, AI, blockchain, 5G, and new consoles are taking gaming to the next level.
Cloud gaming adoption: Cloud gaming services like Xbox Cloud Gaming saw huge growth. The cloud gaming user base is forecasted to grow from 12 million in 2021 to 264 million by 2025.
Rapid mobile growth: Mobile gaming revenues rose to $93.2 billion in 2021, accounting for over half of the market. Downloads topped 28 billion.
Despite the massive opportunity, most blockchain games have failed to capture a serious market share. They are held back by poor graphics, user experience, and excessive focus on monetization over fun.
NetBorn is uniquely positioned to disrupt this status quo by offering AAA-quality graphics, fun gameplay, easy onboarding, and rewarding yet balanced play-and-earn mechanics.
