Predicted growth driven by publishers prioritising monetisation of existing audiences over acquiring new players

Global game content revenue is projected to increase from $204.4 billion in 2025 to $229.1 billion in 2030, representing a 2.3% compound annual growth rate (CAGR), according to S&P Global Market Intelligence Kagan.

The data firm attributes this projection to publishers increasing monetisation among existing players through live-service retention, premium content, subscription models, and in-game purchases.

However, the firm notes that rising console hardware prices, inflation-affected consumers, higher development costs, and long production cycles may impact this growth.

The Asia-Pacific region is expected to hold the largest share of the gaming market, supported by a large mobile user base, strong PC gaming infrastructure, and continued improvements in broadband connectivity.

By platform, S&P expects PC to lead with revenue increasing from $42.25 billion in 2025 to $49.23 billion in 2030, a 3.1% CAGR.

This growth is attributed to digital distribution, wider cross-platform availability, and the predicted strong performance in the Asia-Pacific region.

Cloud gaming is projected to be the fastest-growing segment, with global revenue rising from $6.12 billion in 2025 to $9.71 billion in 2030, a 9.7% CAGR, supported by improved connectivity and subscription models.

Console revenue is expected to benefit from Grand Theft Auto 6 and ongoing sales of the Nintendo Switch 2. However, S&P notes that the Xbox Series line has "weakened sharply" and anticipates the PC market will "start to cannibalise Xbox software revenue" by 2030.

Xbox recently reported a 29% drop in hardware revenue, while revenue plunged by $1.7 billion.

"Gaming remains a growth market, but the industry's next phase will increasingly depend on generating greater value from existing players," said Neil Barbour, S&P Global Market Intelligence Kagan analyst.

"Publishers have demonstrated they can deepen monetisation across major platforms, though they continue to face challenges from higher development costs, rising prices and a more selective consumer."

Mentioned in this article