Despite a sluggish 2022, the video gaming industry soared to new heights in 2023 and continued its upward trajectory through 2024 and into 2025. High-profile game releases and the broader availability of next-generation consoles have significantly fueled the industry’s growth. Analysts now consider 2023 a pivotal year that set the foundation for sustained momentum, provided publishers continue releasing compelling “triple-A” titles — high-budget, high-quality games known for polish and immersive gameplay.
In 2023, game development teams saw increased productivity and more efficient pipelines. Many titles delayed in 2022 were successfully launched, leading to a wave of premium content that made 2023 a landmark year. The momentum has continued into 2025, with upcoming releases in cloud-native and AI-assisted games.
Key Reasons for Growth
Several key factors are most likely to spur the growth of the video gaming market in 2023. These factors also influence growth beyond the video gaming market, as most gamers are highly likely to play online casinos for real money in their spare time. 40% of video game players on the global market choose titles that have gambling-like features.
Some of the main factors spurring growth in the video gaming market include:
More new games and next-generation consoles
New next-generation consoles will become available to more players in 2023, as manufacturers have managed to ease supply chain issues encountered in 2022. For instance, a major video game console manufacturer is expecting to have sold over 20 million units by the first half of the year.
The increase of next-generation gaming consoles in the market will in turn contribute to the growth of triple-A games in the market. Most third-party publishers strategically pushed back their game launches with disruptions in the global supply chain, but market experts expect new titles launched to bounce back in 2023.
Regulatory Shift in China
In 2021, China’s government decided to restrict players under 18 from playing games during school nights and play for only an hour on holidays and weekends. The move came in a bid to curb gaming addiction problems among young people. However, that’s likely to change in 2023.
While the core restrictions on minors remain in place as of mid-2025, the broader market has begun recovering, especially in mobile and esports sectors targeting adult users. Global studios are cautiously re-engaging with the Chinese market as confidence improves.
Defense in a potential recession
While recessions can be devastating, they aren’t always bad for the video game market. Staying at home playing Call of Duty or killing zombies is always cheaper than going out with your friends, even with the investment of buying the games and consoles. That gives investors the chance to accumulate holdings that offer attractive valuations early.
Key concerns
Despite the general optimism about the growth of the video game market in 2023, there are several factors that might mitigate the growth. These factors include relying on proven content instead of developing new games to sustain long-term growth. Of course, there’s a robust pipeline of video games that have demonstrated creativity in 2023, but they still fall short.
The slowing mobile market is also a major concern in the growth of the video game market in 2023. Despite commanding a huge market share with millions of users, the mobile gaming market seems to have reached a saturation level, especially in Korea, China, Japan, and the US. That shows that the expenditure per player will be a key driver for growth and that’s why market experts are emphasizing quality, innovative content.
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