The gaming market size will be valued at $250.45 billion in 2023 and is expected to grow at a CAGR of 10.1% over the forecast period. The increasing adoption of smartphones and 5G technology is expected to bode well for market growth. Furthermore, increasing investments in the field of cloud gaming is anticipated to drive growth of the gaming market over the next few years.
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Rising popularity of games such as Dota 2, Counter-Strike, Fortnite, League of Legends and PUBG that are also played in major esports events are also contributing to growth of the gaming market. Esports events globally are witnessing significant increase in viewership that is translating into increased sales of games and gaming hardware.
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