The firm estimates that total gaming revenue is expected to rise from $227 billion in 2023 to $312 billion in 2027, representing a compound annual growth rate of nearly 8%. Some of the companies investing heavily in this area include Microsoft Corporation (NASDAQ: MSFT ), Sea Limited (NYSE: SE ), and NVIDIA Corporation (NASDAQ: NVDA ).Īccording to a report by professional services firm PwC, video games are capturing a large share of the consumer spending, advertising, and entertainment markets.
Game developers are also exploring in depth storylines that merge gaming with other life experiences to create entire digital worlds which mimic real life. This represents a significant revenue opportunity for large companies as tech advances in virtual reality and artificial intelligence make it possible to make games more immersive and lifelike, as well as more profitable.
Video games are one of the most popular sources for entertainment among children and adults alike.
