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Gaming Market projected to grow by USD 117.2 Billion (2024-2028), driven by AR and VR game adoption, report highlights AI’s role in market evolution – Technavio

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NEW YORK, Dec. 9, 2024 /PRNewswire/ — Report on how AI is driving market transformation – The global gaming market  size is estimated to grow by USD 117.2 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of  9.56%  during the forecast period. Growing adoption of AR and VR games is driving market growth, with a trend towards increasing emergence of cloud gaming. However, regulation of loot boxes  poses a challenge. Key market players include Activision Blizzard Inc., Apple Inc., Bandai Namco Holdings Inc., Bowlero Corp., Chicago Gaming Co., DeNA Co. Ltd., Electronic Arts Inc., Epic Games Inc., GungHo Online Entertainment Inc., Microsoft Corp., NetEase Inc., Netmarble Corp., Niantic Inc., Nintendo Co., Ltd., Rovio Entertainment Corp., Sony Group Corp., Square Enix Holdings Co. Ltd., The Walt Disney Co., Ubisoft Entertainment SA, Zeptolab UK Ltd, NVIDIA Corporation; Valve Corporation.; PlayJam Ltd.; Bluestack Systems, Inc..

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Forecast period

2024-2028

Base Year

2023

Historic Data

2018 – 2022

Segment Covered

Type (Casual gaming and Professional gaming), Platform (Online and Offline), Device (Mobile gaming, Console gaming, and PC gaming), and Geography (APAC, North America, Europe, Middle East and Africa, and South America)

Region Covered

APAC, North America, Europe, Middle East and Africa, and South America

Key companies profiled

Activision Blizzard Inc., Apple Inc., Bandai Namco Holdings Inc., Bowlero Corp., Chicago Gaming Co., DeNA Co. Ltd., Electronic Arts Inc., Epic Games Inc., GungHo Online Entertainment Inc., Microsoft Corp., NetEase Inc., Netmarble Corp., Niantic Inc., Nintendo Co., Ltd., Rovio Entertainment Corp., Sony Group Corp., Square Enix Holdings Co. Ltd., The Walt Disney Co., Ubisoft Entertainment SA, and Zeptolab UK Ltd.,  NVIDIA Corporation; Valve Corporation.; PlayJam Ltd.; Bluestack Systems, Inc..

Key Market Trends Fueling Growth

Cloud gaming is a modern approach to access and play video games, which are hosted on remote servers and streamed to Internet-connected devices. This technology allows users to enjoy a vast library of gaming titles without the need for expensive hardware or complicated setups. With the increasing popularity of social media and mobile gaming, cloud gaming has gained significant traction. Grid computing facilitates the delivery of content to users via wired or wireless broadband connections. Cloud gaming offers several advantages over traditional console gaming. First, it eliminates the hassle of installing games, applying patches, or dealing with game discs. Second, it provides click-to-play simplicity, enabling users to access a wide range of titles with ease. Third, cloud gaming supports multi-device gaming, allowing users to play high-quality games on PCs, tablets, TVs, and smartphones with minimal latency. Moreover, cloud gaming eliminates the need for high-performance graphic cards and frequent PC upgrades. Instead, games are streamed continuously from the cloud, enabling users to access them on devices with less storage and processing capacity. This feature makes cloud gaming an attractive option for non-core gamers who primarily use social media and mobile devices. In conclusion, the emergence of cloud gaming will drive the growth of the global gaming market due to its cost-effective price structure, simplicity, and accessibility across multiple devices. Cloud gaming offers a convenient and hassle-free gaming experience, making it an attractive alternative to traditional console gaming. 

The gaming market is witnessing exciting trends in 2023. Painting and crafting games are popular, with 4G connectivity enabling mobile gamers to play on smartphones and tablets, including iPads. Mobile cellular subscriptions continue to rise, fueling the growth of mobile games, especially shooter, action, sports, role-playing titles with 3D realistic graphics and attractive weapons. Tactical missions and multiplayer game functionality are in demand. Education courses are integrating gaming into learning. Technology advancements like 5G and improved graphics are driving innovation. Game developers create on cloud platforms, offering online gaming through platforms and apps on Android and iOS. Addiction issues and social anxiety remain concerns. New genres like hypercasual games and virtual reality (VR) and augmented reality (AR) are emerging. Tencent leads the industry, and cloud gaming services are gaining traction. The game creation process is becoming more accessible, enabling a new generation of designers. 

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Market Challenges

•         The global gaming market faces regulatory challenges regarding loot boxes, virtual items bought with real money for randomized in-game rewards. While enhancing gaming experience for some, they’ve been criticized for promoting gambling and exploiting vulnerable individuals, including children. In 2020, the UK government classified loot boxes as gambling, regulating them. The Belgian Gaming Commission banned them outright, while Australia and the Netherlands imposed regulations. These actions impact game developers and publishers, requiring modifications to comply. Player behavior may change, with some hesitant to buy regulated loot boxes. This could restrict market growth in the forecast period.

•         The gaming market is thriving with new challenges and opportunities. Hypercasual games continue to dominate Android and iOS apps, with Tencent leading the charge. Technology advancements have streamlined the game creation process, allowing for cloud platforms and online gaming on tablets. Improved graphics, virtual reality (VR), and augmented reality (AR) are revolutionizing game design and new genres. Storytelling, graphics, gameplay, and entertainment remain key drivers, providing stress relief, teamwork, sense of achievement, self-satisfaction, joy, and traction for players of all ages. From kids to older adults, gaming is a popular form of home entertainment, especially during leisure activities and family game time. Indoor games are increasingly popular, particularly for the youth population and those seeking indoor leisure activities.

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Segment Overview 

This gaming market report extensively covers market segmentation by

Type 1.1 Casual gaming1.2 Professional gamingPlatform 2.1 Online2.2 OfflineDevice 3.1 Mobile gaming3.2 Console gaming3.3 PC gamingGeography 4.1 APAC4.2 North America4.3 Europe4.4 Middle East and Africa4.5 South America

1.1 Casual gaming-  The casual gaming market refers to the segment of video games that do not demand extensive time commitment from players. Casual gamers are individuals who enjoy playing games without investing significant resources or time. Companies providing casual gaming services generate revenue by licensing gaming software to end-users. The casual gaming sector is expanding due to the rising popularity of mobile gaming. Unlike dedicated gamers, casual gamers do not invest in gaming peripherals. They prefer mobile devices over PCs and consoles due to easy access to games. Many casual gamers opt for online mobile gaming, enabling them to play their preferred games from anywhere at any time. The accessibility of casual games, their ease of use, and their compatibility with various devices have made them popular among a broad audience. Additionally, the social interaction aspect of casual games, where players can engage with friends or family, adds an extra layer of enjoyment. For instance, Player Unknown’s Battlegrounds (PUBG) is a successful online multiplayer battle royale game that offers social interaction opportunities. Players can communicate using voice chat, enhancing the gaming experience, particularly when playing with friends. This social element contributes to the overall growth of the casual gaming market.

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Research Analysis

The gaming market is a thriving industry that provides endless entertainment for people of all ages and backgrounds. With the rise of home entertainment systems, video games have become a popular form of stress relief and a source of joy for kids and older adults alike. For the youth population, gaming offers a sense of achievement, self-satisfaction, and social connection through teamwork and multiplayer games. The market caters to various genres, including shooter, action, sports, role-playing, and educational courses, with 3D realistic graphics and tactical missions adding to the experience. The advent of mobile phones, tablets, and 5G technology has made gaming more accessible than ever before, according to the latest GSMA report. Whether it’s for family game time, indoor activities, or a way to combat social anxiety, gaming offers something for everyone.

Market Research Overview

The gaming market is a vibrant and ever-evolving industry that offers a world of entertainment for people of all ages. From kids to older adults, video games provide a sense of joy, achievement, and self-satisfaction. They serve as an excellent stress reliever and a way to foster teamwork and social connections. With the rise of home entertainment systems and advanced technology, gaming has become a popular leisure activity for individuals and families. Indoor games, including painting, crafting, and mobile games, have gained significant traction, especially during the pandemic. The youth population and internet users are particularly drawn to mobile gaming, with smartphones and tablets becoming essential tools for accessing games. However, concerns around addiction issues and intense gaming can lead to negative consequences, such as social anxiety and isolation. Technology advancements, including 4G connectivity, mobile cellular subscriptions, and the emergence of 5G, have revolutionized the gaming landscape. Cloud gaming services and mobile gaming have become increasingly popular, with new genres and game worlds offering experiences. Game developers continue to push the boundaries of storytelling, graphics, and gameplay, incorporating virtual reality (VR) and augmented reality (AR) into their creations. The game creation process has become more accessible with cloud platforms and online gaming platforms, enabling individuals to design and develop their games. The gaming industry is constantly evolving, with new trends, technologies, and genres emerging regularly. Whether it’s action, sports, role-playing, or tactical missions, there’s a game for every preference and skill level. Attractive weapons, multiplayer functionality, and 3D realistic graphics add to the overall gaming experience. Education courses and game design programs also offer opportunities for individuals to learn and grow within the industry.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

TypeCasual GamingProfessional GamingPlatformOnlineOfflineDeviceMobile GamingConsole GamingPC GamingGeographyAPACNorth AmericaEuropeMiddle East And AfricaSouth America

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

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SOURCE Technavio

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RWA.LTD Announces Comprehensive Consumer Goods Token Ecosystem Layout at Hong Kong Web3 Festival, Leading the Launch of the Consumer RWA Alliance

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HONG KONG, April 24, 2026 /PRNewswire/ — During the Hong Kong Web3 Festival, RWA.LTD, the world’s first platform dedicated to consumer goods RWA (Real World Assets), officially announced the completion of its comprehensive consumer goods token ecosystem layout. At the event, the platform spearheaded the unveiling of the “Consumer RWA Alliance”. Positioned as the “Asian Consumer Goods Asset Trading Center,” RWA.LTD aims to enhance consumption efficiency through AI, reconstruct value distribution via Web3, and connect cross-city and cross-country consumer networks through tokens to accelerate the arrival of the “Smarter Consumer” era.

RWA.LTD stated that consumer goods RWA is not a single product, but a set of new infrastructure developed around consumption scenarios, the circulation of consumer rights, and brand interaction. Since CEO Fu, Rao Tony first proposed the concept of “Consumer Goods RWA” in late 2024, the team simultaneously prepared the RWA.LTD platform and completed Beta testing in September 2025. Following several months of iteration, the platform completed a comprehensive upgrade in mid-March 2026, marking RWA.LTD’s formal transition from the proof-of-concept stage to the ecological development stage.

RWA.LTD Ecosystem

In this public announcement, RWA.LTD systematically disclosed its four major ecological sectors for the first time. First, RWA.LTD | Mall (Winpoint Mall) was officially launched during the Hong Kong Web3 Festival, providing consumers with diverse brand rights driven by RWA Coin; current offerings include the CDAA (Chartered Digital Asset Analyst) Course, Matrix E-commerce Services, and more. Second, RWA.LTD | Exchange was fully launched in mid-March 2026 as a primary issuance and secondary trading market for consumer goods tokens, with plans to list 100 types of consumer goods tokens within the year to provide bidirectional exposure for brands and users. Third, RWA.LTD | Fund plans to collaborate with established VC funds to focus on brand token ecosystem construction and explore new paths for the synergistic development of consumer brands and on-chain capital. Fourth, RWA.LTD | Bot (rwaclaw.ai, rwabot.ai) has completed domain layout and is currently under development; it will provide consumers with real-time AI price comparisons, intelligent recommendations, and automated ordering tools to enhance decision-making efficiency and consumer experience.

RWA.LTD believes that the traditional consumer market has long suffered from information asymmetry, price opacity, and inactive membership systems, while the combination of blockchain and AI provides a new consumption model. By standardizing, digitizing, and placing consumer rights on-chain, consumers are no longer just end-buyers but can become active participants in the consumption network; brands are no longer limited to one-time interactions with consumers but can build stable, sustainable consumer relationships through on-chain tools.

Consumer RWA Alliance

At the Hong Kong Web3 Festival, the Consumer RWA Alliance, spearheaded by RWA.LTD, was inaugurated. The alliance aims to unite consumer brands, channel platforms, technology service providers, ecological partners, and cross-regional resource providers to jointly promote the co-construction of standards, ecological synergy, and scenario implementation for consumer goods RWA. The alliance members attending the unveiling ceremony included Dr. and Professor Lawrence Yu, Founder and Chairman of the Asia Pacific Economic Leaders’ Confederation; Dr. Wang Ping, President of the RWA Ecological International Federation and Chairman of the Asia Pacific M&A Fund; Dou Jun, Secretary General of the Hong Kong RWA Global Industry Alliance and Executive Secretary General of the Blockchain Professional Committee of the China Communications Industry Association (CCIA); Dr. Yu Jianing, Principal of Uweb Business School (Hong Kong) and Rotating Chairman of the Academic Committee of the Hong Kong Certified Digital Asset Analysts Association (HKCDAA); Dr. Jingle, Founder of Hong Kong Meta Strategy; Dr. Qiu Yueying, CEO of Winchain Technology; Tongjian Sun, CEO of INOVAI TECH K.K.; and Wen Hua, Director of the Australia & New Zealand Center of the Hong Kong RWA Global Industry Alliance, with RWA.LTD CEO Fu, Rao Tony serving as the Chairman. The establishment of the alliance marks an important step for consumer RWA moving from platform exploration to industry collaboration, signifying that the RWA narrative is extending from the relatively singular field of financial assets to the consumer industry which is more closely related to real life.

Industry insiders pointed out that the establishment of the Consumer RWA Alliance holds industry significance beyond platform business. On one hand, it helps break the market’s inherent impression of RWA as being “over-financialized” and encourages the outside world to re-recognize the application value of RWA as digital infrastructure in real consumption scenarios. On the other hand, it provides a new organizational framework for the Asian consumer market, making cross-regional brand cooperation, mutual recognition of consumer rights, and on-chain circulation mechanisms more operational. RWA.LTD stated that it hopes to promote the formation of a more diverse, open, and sustainable RWA world through the alliance mechanism, making RWA not just a synonym for asset securitization, but also a key driver for consumer innovation and industrial upgrading.

Regarding compliance issues of market concern, RWA.LTD provided a brief explanation in this announcement. Consumer goods tokens do not fall within the definition of “virtual assets” under Section 53ZRA of the Anti-Money Laundering and Counter-Terrorist Financing Ordinance (AMLO), as they are neither payment tokens nor governance tokens. Even if there is overlap in certain characteristics, the relevant tokens can ultimately be defined as “Limited Purpose Digital Tokens” under Section 53ZR of the AMLO, which are explicitly excluded from the scope of “virtual asset” in the AMLO. Based on this, RWA.LTD does not fall within the regulatory scope of the Virtual Asset Trading Platform (VATP) licensing regime. Meanwhile, the U.S. SEC’s previous No-Action Letter to the Fuse project, along with the definition of “Digital Tools” in the regulatory interpretation published on March 17, 2026, further supports the stance that consumer goods tokens are non-securities, non-commodities, and are not regulated under the virtual asset framework. RWA.LTD emphasized that the company consistently adheres to advancing product design and business development within a compliance framework and will continue to monitor regulatory dynamics in different jurisdictions.

The RWA.LTD team possesses a rich international background and overseas market experience, having long followed the development trends of the Web3 and RWA markets in Europe and the United States. The team observed early on that the Asian RWA market has long been concentrated on financial narratives with relatively monotonous scenarios, and platforms that truly integrate deeply with mass consumption and high-frequency lifestyle scenarios remain scarce. Consequently, the team began preparing the consumer goods RWA platform as early as 2024, hoping to take the lead in completing infrastructure, model verification, and resource integration before an industry consensus was formed.

RWA.LTD CEO Fu, Rao Tony pointed out that consumer goods RWA is currently one of the directions most likely to land and scale quickly. Compared to financial RWA, consumer goods RWA has a stronger efficient foundation in terms of compliance structure, user understanding, scenario adaptation, and promotion paths. Its core value lies in using blockchain technology to release liquidity that the consumer industry has long lacked, allowing consumer rights—which were originally fragmented, dormant, non-tradable, or difficult to circulate across regions—to achieve more efficient allocation and redistribution. Through this mechanism, the relationship between brands, platforms, and consumers will be redefined.

Fu, Rao Tony further stated that as the digitalization of the Asian consumer market continues to improve, the combination of consumer RWA and the real consumer industry is expected to release trillion-dollar economic potential in the future. For Hong Kong, this is not just an emerging Web3 track, but could become an important hub connecting international consumer networks with digital asset innovation. Hong Kong possesses unique advantages as an international financial center, an international trade center, and a highland for institutional innovation. If it can take the lead in forming scale synergy in the field of consumer RWA, it has the opportunity to occupy a leading position in the global wave of consumer asset digitalization.

In the future, RWA.LTD will continue to advance its layout around consumer goods RWA infrastructure construction, ecological cooperation expansion, alliance network improvement, and AI consumer tool research and development, exploring new on-chain paradigms for the consumer industry with more brands, institutions, and partners. As the Mall, Exchange, Fund, and Bot sectors gradually mature, RWA.LTD hopes to drive consumer RWA from concept to large-scale application, providing a more efficient, intelligent, and participatory new value network for the Asian and global consumer markets.

About RWA.LTD

RWA.LTD is positioned as the Asian consumer goods asset trading center, committed to enhancing consumption efficiency with AI, reconstructing consumer value distribution with Web3, and establishing cross-city and cross-country consumer alliance networks via tokens. The company focuses on the consumer goods RWA track, continuously promoting the digitalization of consumer rights, the circulation of consumer assets, and the synergy of the consumer ecosystem to explore the future consumption model of “Smarter Consumer”.

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Fox ESS Ranks No. 1 Globally in Residential Energy Storage

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WENZHOU, China, April 23, 2026 /CNW/ — Fox ESS, a global leader in renewable energy solutions, has been ranked No. 1 among residential energy storage providers worldwide for 2025, based on MWh shipments in S&P Global Energy’s Residential Energy Storage Market Tracker.

The report also places Fox ESS at No. 1 in Germany and the UK, highlighting the company’s momentum in key markets and expanding distribution footprint.

Compared with 2024, Fox ESS’s global market share rose 50% in 2025, reinforcing its position in a rapidly growing residential storage sector. The company has continued to scale internationally, with global headcount doubling from the end of 2024. As of April 2026, Fox ESS employs more than 5,000 people worldwide, and has added local support through new offices, including in Sydney, Australia.

“We’re thrilled for this remarkable achievement. It reflects our commitment to innovation and product quality, and to making clean, reliable energy practical for households around the world,” said Michael Zhu, CEO of Fox ESS. “We will continue pushing the boundaries to deliver solutions that help homes and businesses move toward energy independence.”

Notably, Fox ESS has launched the Champion’s Choice campaign globally, combining the endorsement of sports champions with recognition from prestigious organizations. With the first stop in Australia, the company signed Ian Thorpe, a five-time Olympic champion last December. The campaign underscores Fox ESS’s ambition to deliver better value for customers and partners.

Fox ESS is committed to building long-term trust with customers and partners. The company delivers reliable, high-quality energy storage systems engineered for consistent performance, supported by rigorous quality-control processes designed to help ensure every product meets the highest standards.

Fox ESS develops solutions that serve both installers and end users. With ongoing investment in R&D, the company stays ahead of evolving market needs, helping installers work more efficiently while enabling homeowners to move toward energy transition and reduce electricity costs.

With a team of more than 400 experts in R&D, Fox ESS continues to refine its product design for easier transportation, installation, and everyday use. The AI-powered FoxCloud app also makes energy management more intuitive, enabling users to monitor and control home energy consumption, manage smart devices, and track detailed generation and usage data in a single streamlined platform, delivering greater peace of mind.

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Deepvein Mining Tech Wins NY Product Design Gold for Exploration Robotics

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SHANGHAI, April 23, 2026 /PRNewswire/ — Deepvein Mining Tech, a developer of robotic systems for mining operations, has received Gold at the 2026 NY Product Design Awards for its Intelligent Geological Mapping and Geochemical Sampling Quadrupedal Robots, a robotics series developed for mineral exploration in remote and high-risk field environments.

The NY Product Design Awards, organized by the International Awards Associate (IAA), recognize achievements in product design and industrial innovation worldwide.

Mining exploration has become increasingly costly and technically challenging as easily accessible deposits are depleted, particularly in remote and geologically complex regions where fieldwork can be slow, labor-intensive and operationally demanding.

Deepvein’s award-winning robotics series was developed to address those constraints through a combination of quadrupedal robotic hardware and integrated software systems. The solution supports route planning, equipment coordination, sample logging and geological data management, helping standardize field operations and reduce manual workloads.

Designed for geological mapping and geochemical sampling, the robotic units can autonomously perform targeted collection tasks while reducing repeated manual fieldwork. A single operating cycle can gather approximately 30 to 50 samples.

According to deployment data from company-operated mining assets in Africa, exploration data collection cycles were reduced from around 12 months to one week, while overall workflow costs fell by approximately 40%.

Beyond efficiency gains, the use of robotic systems in steep, high-temperature or hard-to-access areas can help reduce personnel exposure to hazardous conditions. Improved targeting and digital workflow management can also limit unnecessary surface disturbance during early-stage exploration.

Deepvein is developing a broader portfolio of mining robotics covering the industry lifecycle, with future applications expected in transport support, inspection, maintenance and site rehabilitation, alongside continued iteration of its exploration-stage systems.

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