“Blockchain in Gaming Market to Reach $818.5 Billion, Globally, by 2032 at 66.5% CAGR: Allied Market Research”
Main determinants of growth
The growth of the global blockchain games market is driven by factors such as the growing interest in blockchain games, the rise in demand for decentralized games and assets, and technological advancements in smartphone technology. However, a lack of technical expertise and resources and a lack of regulatory clarity inhibit blockchain in gaming market growth. On the contrary, an increase in the demand for virtual assets is expected to offer profitable opportunities for the expansion of blockchain in the gaming market during the forecast period.
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Report coverage and details:
Report coverage Details
Forecast period 2023–2032
Base year 2022
Market size in 2022 $4.9 billion
Market size in 2032 $818.5 billion
CAGR 66.5%
Number of pages in report 290
Segments covered game type, platforms, device type and region.
Drivers The growing interest in blockchain gaming
Increasing demand for decentralized games and assets
Technological advancements in smartphone technology
Opportunities Increased demand for virtual assets
Limitations Lack of technical expertise and resources
The lack of regulatory clarity
Covid-19 scenario
- The COVID-19 pandemic had positively impacted the blockchain in the gaming market as people were forced to work from home and stay at home due to the restrictions, resulting in an increase in demand for online gaming.
- Moreover, blockchain-based games offer unique and innovative game mechanics and monetization models, which resulted in increased adoption during the pandemic. This led to an increase in the number of players and the time spent playing games.
- In addition, the pandemic led to an increase in demand for collectibles and digital assets, which further increased the growth of the market.
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The RPG segment to maintain its leadership status throughout the forecast period
Based on game type, the role-playing game segment had the highest market share in 2022, accounting for around half of the global blockchain in games market revenue, and is estimated to maintain its leadership status throughout the forecast period, due to the emergence of blockchain technology, developers are creating cross-platform games that can play on multiple devices and platforms. However, the arcade segment is expected to manifest the highest CAGR of 72.2% from 2023 to 2032, as players demand more immersive game worlds that feel like real living environments. This includes more realistic graphics, more interactive environments and more dynamic non-player characters (NPCs).
ETH segment to maintain its leadership status throughout the forecast period
Based on platform, the ETH segment had the highest market share in 2022, accounting for nearly half of the global blockchain in gaming market revenue, and is projected to maintain its leadership status throughout the forecast period, as Ethereum (ETH) provides a secure and transparent system for creating and trade blockchain-based game assets, such as game tokens, virtual currency and Non-Fungible Tokens (NFT). However, the polygon segment is projected to manifest the highest CAGR of 74.7% from 2023 to 2032, due to significant growth in the number of decentralized gaming platforms being built on the network.
The online segment to maintain its leading position during the forecast period
Based on device type, the web segment accounted for the largest share in 2022, contributing to more than two-fifths of the global blockchain in gaming market revenue. This growth can be attributed to the accessible and user-friendly gaming experience offered by the web. Players can easily jump from a browser to online games without having to download or install any software. However, the Android segment is expected to show the largest CAGR of 70.4% from 2023 to 2032, and is expected to maintain its leading position during the forecast period. This is due to the increase in the use of Android devices among end users and the ease of distribution platform.
Asia-Pacific to maintain its dominance by 2031
Based on region, Asia-Pacific held the highest market share in terms of revenue in 2022, accounting for two-fifths of the global blockchain in gaming market revenue. This region is expected to show the largest CAGR of 70.3% from 2023 to 2032 and is also expected to maintain its leading position during the forecast period, owing to the rise in NFTs for trading in-game assets such as weapons, skins, and avatars.
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Leading market players: –
- Animoca Brands Corporation Limited
- App inventory
- Cubix
- IBM
- LeewayHertz
- Lumighost Ltd.
- Maticz Technologies Private Limited
- Sara Technologies Inc.
- Unicsoft
- Web list
The report provides a detailed analysis of these key players in the global blockchain for games market. These players have adopted various strategies such as new product launches, collaborations, expansion, joint ventures, agreements and others to increase their market share and maintain dominant shares in various regions. The report is valuable in highlighting business performance, operating segments, product portfolio and strategic moves of market players to showcase the competitive scenario.
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SOURCE Allied Market Research
