USD 4.60 billion
Blockchain Gaming Market Size, Share, Growth Analysis, By Architecture (Decentralized Monolithic, Decentralized Layered Architecture), By Game Type (Role-Playing Games, Open World Games), By Platform (ETH, BNB Chain), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG45E2251 |
Region:
Global |
Published Date: November, 2024
Pages:
202
|Tables:
87
|Figures:
71
Blockchain Gaming Market Insights
Global Blockchain Gaming Market size was valued at USD 4.60 billion in 2022 and is poised to grow from USD 7.83 billion in 2023 to USD 554.23 billion by 2031, growing at a CAGR of 70.30% during the forecast period (2024-2031).
The rise of decentralized games and assets is one of the key drivers for the expansion of blockchain within the gaming industry. By decentralized games and assets players can have total ownership as well as control over their in-game valuables. This means proponents can even relocate or conduct exchanges regarding whatever they earned during play without any restrictions or intermediaries unlike traditional centralized ones. The growing popularity of blockchain gaming and technological developments in smartphones are two more important industry drivers. By utilizing blockchain innovation, the game designers can generate additional sources of income and enhance their users’ experiences by creating safe and transparent virtual asset marketplaces.
The concept of “blockchain in gaming” speaks regarding the putting of blockchain technology into practice in playing places that are protected and have no central authority. Blockchain is a distributed digital ledger which can securely, openly and permanently log data and transactions. With a decentralized and secure structure, blockchain makes it possible for participants to make safe and clear transactions. In the absence of intermediaries, blockchain can facilitate players to exchange in-game currencies, assets and items related to games in a transparent and safe manner. Furthermore, blockchain technology can offer a safe and transparent environment for gaming transactions. Blockchain ensures that no one can manipulate or cheat by logging every transaction on a decentralized ledger.
Market Snapshot - 2024-2031
Global Market Size
Largest Segment
Role playing games
Fastest Growth
Open world games
Growth Rate
70.30%
Global Blockchain Gaming Market ($ Bn)
Country Share by North America (%)
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Blockchain Gaming Market Segmental Analysis
Global Blockchain Gaming Market is segmented by architecture, game type, platform, and region. Based on architecture, the market is segmented into decentralized monolithic, decentralized layered architecture, and hybrid architecture. Based on game type, the market is segmented into Based on application, the market is segmented into role-playing games, open world games, collectible games, and others. Based on platform, the market is segmented into ETH, BNB chain, polygon, and other platforms. Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & and Africa.
Blockchain Gaming Market Analysis by Game Type
As per categorization by game type, the market is classified as role playing games, open world games and collectible games. Among these, role playing games earned the largest share and continue to dominate the market. RPGs possess their own unique in-game assets secured by blockchain technology which gives them an edge over other gaming genres that are otherwise stagnant. This has initiated a wider acceptance of decentralized gaming due to the combined efforts to introduce attractiveness among the players and develop versatile economy structures within the same time frame whereby they can also transact out using real-world currencies.
In view of their massive, player-controlled environments, and decentralization of blockchain technology, open world games are predicted to grow at the fastest rate in the global blockchain gaming market. It makes it possible for increased imagination; true possession of in-game artifacts; as well as adaptable and non-static sceneries that transform according to what players do.
Blockchain Gaming Market Analysis by Platform
For the global blockchain gaming market, Ethereum is very important due to its smart contract functions that allow decentralized applications and safe in-game transactions. It is also made more usable through advancements in scalability and Layer 2 solutions making it preferred by game developers who desire mass adoption and reliability.
BNB Chain is predicted to have the highest growth rate in the global blockchain gaming market due to its excellent developer support, high transaction speed, and low fees. The scalability of BNB chain and its affiliation with large networks such as Binance attracts game developers who are in search of affordable and efficient means of building blockchain based games.
Global Blockchain Gaming Market By Game Type (%)
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Blockchain Gaming Market Regional Insights
Asia Pacific holds the top slot of blockchain gaming in the whole world due to its large and technology-friendly population, high penetration of smartphones and deep-rooted gaming culture. The nations like South Korea, China as well as Japan are at the forefront of building gaming infrastructure and injecting resources into blockchain technology. Moreover, there is support for innovative ideas and technological advancement through sound policies from governments as well as cooperation among the programmers. User engagement and industry growth are also fuelled by the growing popularity of eSports and the growing interest in play-to-learn models. In the Asia Pacific zone, the integration of blockchain into gaming powerhouses and young firms enhances market vitality and reinforces its status as the global leader in such sectors.
The fastest growing region in the global blockchain gaming market is North America, due to its strong technological base, high acceptance rate for new technologies, and rising gaming sector. Large venture capital investment coupled with the presence of important tech companies and blockchain leaders speeds up the development and adoption of Blockchain games. The rising popularity of NFTs and decentralized finance (DeFi) gives blockchain gaming an edge over other types of gaming. The availability of clear regulations and favorable laws drives more innovations while luring developers into the market. Rapid growth of this sector can be attributed to the high purchasing power as well as a great inclination for electronic leisure activities among customers in that region.
Global Blockchain Gaming Market By Geography
- Largest
- Fastest
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Blockchain Gaming Market Dynamics
Blockchain Gaming Market Drivers
- Switch to Blockchain-Based Games Instead of Conventional Ones
As traditional games are centralized, all the game's assets—including characters, skins, weaponry, coding, and experience—cannot be transferred to other games or projects. On the other hand, users might possess digital assets within games thanks to blockchain gaming. Players can now utilize in-game products and awards from various cryptocurrency gaming projects. There are several ways for players to make real money using blockchain games.
- Distinct Patterns in Active Wallet Usage
Users may access applications across blockchain ecosystems using the DappRadar, which is the leading platform for dApp discovery according to standard measurements. DappRadar keeps track of the distinct Active Wallets (UAWs), the quantity and amount of transactions for every dApp. The UAW is represented by the rankings. This important measure indicates which app is at the top of the charts since the most user wallets are interacting with it.
Blockchain Gaming Market Restraints
- Regulatory Obstacles
The laws governing cryptocurrencies and NFTs may deter players and developers from realizing the full potential of blockchain games. The use of these cryptocurrencies, like MANA and Theta, by regulatory agencies is still a puzzlement; they are still trying to comprehend how and when they can be used in gaming over the blockchain.
- Insufficient Knowledge about NFT and Blockchain Technology
Lack of understanding of blockchain technology is the greatest obstacle to the general public's acceptance and adoption of blockchain gaming. Right now, one of the most interesting and popular technologies on the market is blockchain technology. End users still have some difficulty grasping the intricacies of the blockchain concept, though.
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Blockchain Gaming Market Competitive Landscape
The competitive landscape of the global blockchain gaming market is characterised by leading competitors diversified offers and quick innovation. Ubisoft is one of the leading global companies that uses blockchain technology in its games; Sky Mavis is known for its popular game Axie Infinity while Animoca Brands is famous for its blockchain-based games as well as investments. Among others, Enjin and Decentraland have predominantly been prominent names in the virtual world and NFT gaming verticals leading to growth of marketplaces and competitive scenarios.
Blockchain Gaming Market Top Player’s Company Profiles
- Sky Mavis (Vietnam)
- Splinterlands (US)
- Animoca Brands (Hong Kong)
- Wemade (South Korea)
- Dacoco (Switzerland)
- Dapper Labs (Canada)
- Immutable (Australia)
- Uplandme (US)
- AlwaysGeeky Games (Canada)
- Decentraland Foundation (Argentina)
- Mythical Games (US)
- Illuvium (Australia)
- Sorare (France)
- PopCap Games (US)
- G.JIT Japan (Japan)
- Double Jump.Tokyo (Japan)
- Gala Games (US)
- Lucid Sight (US)
- Rokosoft (South Korea)
- Horizon Blockchain Games (Canada)
Blockchain Gaming Key Market Trends
- Integration of NFTs: In the international games business of blockchain, there is a rising use of NFTs that allows for owning, trading, and profiting from unique in-game assets by the players. There is a rise in popularity and development of blockchain-powered games due to this as it means greater involvement of players and emergence of more income sources.
- Play-to-Earn Models: Play-to-earn models are gaining popularity and are revolutionising the blockchain gaming industry by allowing users to get real-world value through gameplay. This approach greatly accelerates user engagement and market growth by drawing in a wider audience, offering incentives for participation, and creating thriving in-game economies.
Blockchain Gaming Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
As per SkyQuest analysis, the growing popularity of decentralized games and assets, which allow players to have actual ownership, is driving a major growth in the global blockchain gaming market. To provide secure and exciting experiences, developers are applying blockchain technology to their projects due to technical advancements and the popularity of play-to earn.
North American and Asia Pacific regions have been identified as the prime contenders by local analysis while Animoca Brands, Ubisoft, and Sky Mavis are in the front row of global innovators. However, there are certain impediments to this sector’s future which may be facilitating or hindering its growth such as the fear of legal consequences and ignorance.
| Report Metric | Details |
|---|---|
| Market size value in 2022 | USD 4.60 billion |
| Market size value in 2031 | USD 554.23 billion |
| Growth Rate | 70.30% |
| Base year | 2023 |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Blockchain Gaming Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Blockchain Gaming Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Blockchain Gaming Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Blockchain Gaming Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Blockchain Gaming Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Blockchain Gaming Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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