Young people devote 30% of their time to video games
Global video game revenues are set to surpass hundreds of billions by 2028, driven by the younger generation’s growing time and budget for gaming.
• The global video game industry is set to grow to $257 billion by 2028, driven by a 6% annual increase fueled by evolving consumer behavior and rapid tech advancements.
The global video game industry is experiencing significant growth, with revenues projected to reach $257 billion by 2028, marking a 6% annual increase. Young people now spend 30% of their time on video games. This growth is driven by changes in consumer behavior and rapid technological advancements, according to Al Qabas newspaper.
A recent study by Bain & Company confirmed that global revenues from video games are steadily rising, expected to exceed hundreds of billions of dollars by 2028. This growth is largely driven by the younger generation devoting an increasing share of their time and budget to gaming.
The survey, which included thousands of players worldwide, revealed that young people are the driving force behind this revolution in the gaming industry.
According to the survey, nearly 80% of children and young people aged 2 to 18 play games, spending 30% of their leisure time on gaming. This demographic is expected to become the primary source of future revenue for the sector.
Older players, aged 45 and up, represent a smaller market, with 31% engaging in gaming, often on their mobile phones.
“We are witnessing a surge in the global video game audience, driven by young people who are spending more time gaming and less time on video and other media,” said Daniel Hong, head of media and entertainment at Bain.
Bain expects that rapid technological advancements and increased realism in games will attract more players. Devices not initially designed for gaming, such as phones, and cloud gaming will become more affordable and widespread, making games easier to access anytime and anywhere without requiring powerful hardware.
