Blockchain in Gaming Market to Reach $818.5 Billion Globally by 2032 at 66.5% CAGR: Allied Market Research

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.

PORTLAND, Ore., 27 April 2023 /PRNewswire/ — Allied Market Research published a report titled “Blockchain in Gaming Market by Game Type (Role Playing Games, Open World Games, and Collectible Games), by Platform (ETHBNB Chain, Polygon and others), by device type (Android, web and iOS), by industry vertical (IT and ITES, healthcare, utilities, BFSI and others): Global Opportunity Analysis and Industry Forecast, 2023-2032″. The global blockchain in the gaming market was valued at 4.9 billion dollars in 2022, and is expected to reach 818.5 billion dollars by 2032, registering a CAGR of 66.5% from 2023 to 2032.

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:

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).

The ETH segment to maintain its leadership status throughout the forecast period

Based on the platform ETH segment held 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, which Ethereum (ETH) provides a secure and transparent system for creating and trading blockchain-based game assets, such as game tokens, virtual currency and non-Pivotable Tokens (NFTs). 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 had the highest market share measured in 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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We are in professional business relationship with various companies and this helps us to dig out market data which helps us to generate accurate research data tables and confirms utmost accuracy in our market forecasts. CEO of Allied Market Research Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality data and help customers in every possible way to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies in the concerned domain. Our secondary data sourcing methodology includes deep online and offline research and discussion with knowledgeable industry professionals and analysts.

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