Study analyzes gaming industry impact across countries, revealing surprising pattern
Key findings:
- Japan tops the list with a revenue-to-gamer ratio of $249 in 2023, despite having fewer gamers than countries like the USA and China
- The United States ranks second, with 214 million gamers and a revenue-to-gamer ratio of $221 in 2023
- Emerging markets like India and Indonesia show significant growth in gamer numbers, but lower revenue-to-gamer ratios
The global gaming market is experiencing unprecedented growth, with revenues expected to reach $455.30 billion in 2024. This surge spans all platforms, from mobile apps to console blockbusters and PC titles, reflecting the industry’s expanding reach.
To gain a deeper understanding of this booming industry, gaming marketplace U4GM conducted a comprehensive study analyzing gamer populations and industry revenues across various countries.
The research aimed to identify and rank the top countries shaping the global gaming landscape, based on the ratio of each country’s gaming industry revenue to its number of gamers. This metric provides insight into the relative strength and impact of each country’s gaming industry. The study offers perspectives on emerging trends and potential future growth areas in the evolving gaming market.
It’s important to note that the gaming revenue data for each country includes sales to global players, not just domestic consumers, even though it’s attributed to each country’s industry. Therefore, the revenue-to-gamer ratio doesn’t represent individual player spending, but rather illustrates the global impact of each country’s gaming industry relative to its gamer population.
Top 10 Countries Shaping the Global Gaming Landscape in 2023
U4GM’s analysis reveals the top 10 countries shaping global gaming in 2023, based on the number of gamers and their average spending. Data was examined from 2021 to 2023. To offer a comparative look at industry scale, they divided each country’s total gaming revenue (which includes international sales) by the number of gamers in that country. While this doesn’t represent actual per-player spending, it provides insight into the relative size and impact of each country’s gaming industry.
Table showing countries ranked by gaming revenue per gamer
| Rank | Country | Number of gamers (millions) 2023 | Average Revenue per Player (USD) 2023 |
| 1 | Japan | 73.6 | $249 |
| 2 | United States of America | 214 | $221 |
| 3 | South Korea | 33.6 | $218 |
| 4 | Australia | 14.8 | $157 |
| 5 | Canada | 22.8 | $143 |
| 6 | UK | 40.3 | $136 |
| 7 | Taiwan | 17.9 | $129 |
| 8 | Germany | 52.1 | $126 |
| 9 | Netherlands | 10.1 | $116 |
| 10 | France | 39.8 | $105 |
Japan Top Gaming Spender
Japan leads the list with 73.6 million gamers representing an average of $249 each in 2023, despite having fewer players than some other countries.
Gaming expert, Wai-Fai Cou, from U4GM commented: “Japan’s position at the top isn’t surprising. The country has a strong gaming culture, with well-known developers like Nintendo, Sony, and Square Enix. Games such as Mario, Pokémon, and Final Fantasy are global phenomena. This dedication to creating and playing quality, innovative games significantly boosts the global market.”
United States: A Diverse Gaming Market
The US market is substantial, with 214 million gamers representing a revenue-to-gamer ratio of $221 each.
What sets the US market apart is its variety,” Cou explains. “American gamers spend across different platforms. Mobile hits like Candy Crush Saga, console favorites such as Call of Duty, and PC giants like Fortnite show their diverse spending habits. This range is driving both innovation and revenue in the industry.”
South Korea: The eSports Center
South Korea’s gaming market stands out with 33.6 million gamers and a revenue-to-gamer ratio of $218.
Cou notes: “South Korea’s high per-player revenue could be tied to its thriving eSports scene. The country has produced numerous world-class players in games like League of Legends and StarCraft. Major tournaments for these games draw huge crowds and viewership. The popularity of competitive gaming, combined with excellent internet infrastructure, contributes to the high investment we see from players here.”
Australia: Making a Big Impact
Australia ranks fourth with 14.8 million gamers ,contributing $157 each to the country’s gaming revenue, despite its smaller population.
“Australia’s position on this list is noteworthy,” says Cou. “Players here invest heavily in gaming, from global hits like Fortnite to local successes such as Team Cherry’s Hollow Knight. The country’s higher incomes likely fuel this spending trend.”
Canada: A Growing Gaming Hub
Canada’s 22.8 million gamers spend an average of $143 each, placing it fifth on the list.
Cou observes: “Canada’s gaming industry is thriving, with several world-renowned game development studios. Companies like Ubisoft Montreal, responsible for the ‘Assassin’s Creed’ series, and BioWare in Edmonton, known for ‘Mass Effect’ and ‘Dragon Age’, showcase the country’s talent. This combination of local expertise and a population that enjoys gaming contributes to Canada’s significant per-player spending.”
6-10: Europe’s Strong Presence
The latter half of the top 10 is dominated by European countries, including the UK, Germany, Netherlands, and France, with Taiwan as the exception.
“Europe’s presence in the top 10 reflects the continent’s varied gaming markets,” Cou explains. “The UK’s Rockstar North with Grand Theft Auto, Germany’s strategy games like Forge of Empires, and Finland’s Supercell with mobile hits like Clash of Clans show how each country brings unique strengths to the global gaming scene.”
Emerging Markets: The Future of Gaming
While not in the top 10 for per-player revenue, countries like India and Indonesia show significant growth in gamer numbers.
Cou provides insight: “The large number of gamers in countries like India and Indonesia represents huge potential for the gaming industry. As these markets develop and incomes rise, we could see a shift in global gamer revenue rankings in the coming years.”
Wai-Fai Cou, Gaming Expert at U4GM, commented:
“Our study shows just how different gaming markets can be around the world. Japan and the US have high revenue-to-gamer ratios, but we’re also seeing huge player numbers in places like India and Indonesia. It’s an exciting mix for the industry.
“In countries like Japan and South Korea, gaming is more than just a pastime – it’s a big part of the culture. That’s why we see such high ratios there.
“For game companies, the trick will be balancing these different markets. They need to keep making top-notch games for big spenders while also finding ways to appeal to newer markets with lots of players but less cash to splash. It’s a challenge, but it’s also a massive opportunity. The gaming world is changing fast, and understanding these differences is key for anyone in the business.”
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About U4GM
U4GM is a leading online marketplace that specializes in providing virtual currency, items, and services for a wide range of popular video games. With a focus on customer satisfaction, U4GM offers competitive pricing, instant delivery, and 24/7 customer support to ensure a seamless and secure shopping experience. The platform is trusted by gamers worldwide for its reliable and safe transactions, making it a go-to destination for in-game purchases.
Methodology
This study analyzed gamer populations and gaming revenues across countries for 2021-2023. Data was sourced from Newzoo’s “The Games Market in 2022: The Year in Numbers” and “Top 10 Countries by Game Revenues” rankings. Our rankings include countries with data for 2023 and earlier, excluding those with data only for 2022-2021. Per-player revenue was calculated by dividing total gaming revenue by the number of gamers in each country.
Note that the per-player spending figures don’t represent actual individual spending, as each country’s revenue includes international sales. Instead, these figures offer a comparative view of each country’s gaming industry scale relative to its gamer population.
Sources:
Newzoo: Top 10 Countries By Game Revenues
Thank you,
Glenda, Charlie and David Cates
