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Skill Gaming Market Size to Surpass USD 85.34 billion by 2030, exhibiting a CAGR of 13.3%

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The global skill gaming market size was USD 30.99 billion in 2022 and is projected to reach USD 85.34 billion by 2030 at a CAGR of 13.3% during the forecast period. Fortune Business Insights presents this information in their latest research report titled “Global Skill Gaming Market Forecast, 2023-2030.”

Gamers and developers are attracted to skill-based games for mental challenges, social interaction, and competitive opportunities. The scope of this study includes the platforms and games which require the players to compete and utilize real currency with other players. Such games are considered into casino games, board games, sportsbooks, puzzle games, word games, and poker.

Key Industry Developments:

March 2023: Dream11 in partnership with Legends League Cricket as the Official Fantasy Partner for the LLC Masters tournament. The tournament featured three teams – Asia Lions, India Maharajas, and World Giants.

Key Takeaways

  • Skill Gaming Market size in North America was USD 8.77 billion in 2022
  • Rise in Gaming Applications Usage during the Pandemic Led to Market Growth
  • Rising Demand for Advancement in Internet Technology to Drive the Market Growth
  • Board Based Segment to Dominate due to Consumers’ Tendency to Switch to Alternative Board Games

Discover the Leading Players Featured in the Report:

“Companies leading the global Skill Gaming Market are Skillz, Inc. (U.S.), Arkadium, Inc. (U.S.), AviaGames, Inc. (U.S.), GameDuell GmbH (Germany), GSN Games (U.S.), Junglee Games (U.S.), Big Fish Games (U.S.), Sporta Sports Technologies Private Limited (India), Triumph LLC (U.S.), Game Taco Inc. (U.S.)”

Report Scope & Segmentation

Report Coverage Details
Forecast Period 2023 to 2030
Forecast Period 2023 to 2030 CAGR 13.3%
2030 Value Projection USD 85.34 billion
Base Year 2022
Skill Gaming Market Size in 2022 USD 30.99 billion
Historical Data for 2019 to 2021
No. of Pages 120
Segments Covered By Skill Type, Game Genre, and Region

Drivers & Restraints

Turbocharging Gaming Speed of the 5G Network Augments the Development of Skill-based Games

Unlimited internet facilities and emerging 5G coverage are progressively becoming the new norm globally, subsequently complementing mobile gaming. 5G offers better download speeds and lesser latency during gaming.

Legislation and rules regarding different industries vary from country to country in various regions. When it comes to skill-based games, they are also often confused with gambling, which is restricted in several countries.

Segmentation

By Game Genre

  • Card Based
  • Board Based
  • Dice Based
  • Tile Based
  • Word and Number Based
  • Puzzle-Based and Animated Games

By Skill Type

  • Physical
  • Mental

By Industry

  • BFSI
  • Cloud & Data center
  • Government
  • Energy & Utilities
  • Healthcare
  • Automotive
  • Others (Gaming, Retail & Consumer Goods, and others)

By Region

  • North America
  • Europe
  • Asia Pacific
  • Middle East & Africa
  • South America

Regional Insights

North America Dominated the Market Owing to Increasing Demand for Mobile Devices

North America led the market share in 2022. North America witnessed an exponential growth owing to the production of mobile devices and the availability of new consoles in the North America market.

Europe is estimated to grow with a noteworthy CAGR during the projected period. The growth of the gaming sector has led to the development of new gaming platforms, such as subscription-based services and cloud gaming, that give players access to skill gaming.

Competitive Landscape

Prominent Key Players Focusing on Partnerships and Acquisitions are Expanding their Product Offerings

Skill gaming companies form strategic collaborations and alliances to enlarge the technologies, business, products, and other offerings with year-on-year revenue growth. Mergers, partnerships, and collaborations differ as per the business requirements, such as the enlargement of the product portfolio, which helps grow their presence and acquire a new customer base.

FAQs

How big is the Skill Gaming Market?

The Skill Gaming Market size was USD 30.99 billion in 2022. It is expected to reach USD 85.34 billion by 2030.

How fast is the Skill Gaming Market growing?

The Skill Gaming Market will exhibit a CAGR of 13.3% during the forecast period, 2023-2030.

Industry News

IGT Earns Top Score in Human Rights Campaign Foundation’s 2023-24 Corporate Equality Index

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International Game Technology PLC (IGT) announced that it received a top score of 100 on the Human Rights Campaign (HRC) Foundation’s 2023-24 Corporate Equality Index (CEI), the nation’s foremost benchmarking survey and report measuring corporate policies and practices related to LGBTQ+ workplace equality.

The 2023-24 CEI includes 1384 participants and showcases how US-based companies promote LGBTQ+ friendly workplace policies in the US and abroad. The educational arm of the nation’s largest LGBTQ+ civil rights advocacy group, the HRC Foundation rated businesses on detailed criteria across four central pillars:

  • Non-discrimination policies across business entities.
  • Equitable benefits for LGBTQ+ workers and their families.
  • Supporting an inclusive culture.
  • Corporate social responsibility.

“IGT being recognized once again with a top score in HRC’s 2023-2024 Corporate Equality Index demonstrates our commitment to delivering an inclusive workplace culture where LGBTQ+ employees are welcomed and valued. Over the last few years, IGT has implemented a variety of important policies, practices, and benefits to make IGT a more inclusive employer for LGTBQ+ professionals, elevate company-wide allyship, and support IGT’s objective of continuous DEI learning and improvement,” said Brian Blake, IGT Vice President, Diversity, Equity & Inclusion.

“For well over two decades, businesses have played an important role in furthering LGBTQ+ equality by centering employee needs and voices when it comes to workplace inclusion. While there is much more work to be done, year-over-year growth in CEI participation is evidence of a business community that recognizes the responsibility and value in upholding equity and inclusion. Our goal at the Human Rights Campaign Foundation is to work in a spirit of partnership with companies, providing educational resources, leading benchmarking, and collaborating on ways for businesses to support the LGBTQ+ community,” said RaShawn “Shawnie” Hawkins, Human Rights Campaign Senior Director of Workplace Equality.

Since 2018, when IGT created the Office of Diversity & Inclusion (now the Office of Diversity, Equity & Inclusion), the Company has implemented a range of programmes, policy and systems changes, and leading practices that have promoted all dimensions of diversity to make it a more attractive and inclusive employer. These actions include:

  • Implementing more inclusive and equitable hiring processes, including utilising LGBTQ+ job boards to post positions.
  • Creation and support of employee-led and executive-sponsored Employee Impact Groups (EIGs) to work cohesively with IGT’s DEI team and support the development of new programming and policies.
  • Facilitating mandatory and elective employee training courses that help support IGT’s diversity, equity and inclusion initiatives, including training on unconscious bias, cultural awareness and harassment.
  • Establishing gender transition guidelines to best support an employee and their manager, human resources business partner, or an employee’s dependent who is transitioning.
  • IGT’s commitment to LGBTQ+ employees extends to the Company’s global offices and facilities through its transgender-inclusive restroom/facilities policy and gender-neutral dress code policies.
  • The voluntary option for employees to personally select and share their preferred pronouns. Respecting and creating space to recognise gender identity is a core element of DEI at IGT.
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Industry News

Genius Sports Launches FanHub ID, the First Unified Fan Identification Solution for Advertising

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Genius Sports, the global leader in sports data and technology, launched an innovative new identification solution, FanHub ID. The privacy-compliant solution uses proprietary online and offline data signals to build fan-based profiles, giving marketers and content owners new opportunities to reach and measure engaged sports audiences at scale.

With an innovative approach to activating sports-based identity signals powered by AI-based technology, Genius Sports will offer its customers the ability to reach audiences on and offline. Leveraging the Genius fan-based identity graph, Genius Sports puts the power back into the hands of the marketer and content owner to reach, engage, measure and capture audiences across channels in an always-on ecosystem. The new FanHub ID revolutionises sports advertising and marketing by offering a single, unified profile for millions of sports fans, enabling customers to find their audience in contextually relevant content across programmatic and digital channels.

“Sports fans make up the world’s most passionate audiences, but marketers and content owners still struggle to identify, measure, and engage their fan personas. FanHub ID gives them the ability to activate fan data to enable long-term loyalty,” Manny Puentes, GM of Advertising at Genius Sports, said.

The new technology will be rolled out and made available to all existing Genius Sports customers. The key benefits of FanHub ID include:

  • Sports content owners can better understand and engage their fans to generate incremental sponsorship dollars.
  • Fanbases can finally be found across multiple marketing channels and reached with privacy-compliant personalised messaging.
  • A single, unified profile for millions of sports fans enables brands to run relevant ad campaigns to specific sports audiences based on their individual interactions and preferences.

“FanHub ID drives immediate impact to current Genius Sports customers by helping them better understand their audience and extend their sponsorship dollars beyond their owned and operated content. Sports content owners will finally have the insights they need to drive deeper engagement and find the most valuable fans of the future,” Josh Linforth, Chief Revenue Officer at Genius Sports, said.

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Industry News

Experts from Las Vegas and Macau to Appear at Arabian Business Casino Countdown Conference

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Some of the world’s biggest casino bosses from Las Vegas and Macau have been confirmed to speak at “Casino Countdown,” the first-ever Arabian Business Conference to focus entirely on gaming. The event will take place at The Atlantis, Royal on January 25 next year, from 9 am.

The stellar line up is being led by Debra Nutton, an industry legend with experience working at MGM, Bellagio and Wynn Resorts. She will deliver a keynote on the opportunities and challenges the industry faces, along with revealing the best practices and innovations the ecosystem will need to keep in mind.

Also confirmed to speak is Alex Dixon, the President and CEO of Q Casino and DRA. Another industry legend who worked in Las Vegas, Dixon has previously held senior leadership roles at MGM Resorts International, Caesars Entertainment Corp, and Goldman Sachs & Co. Dixon will delve into the financial intricacies of the gaming landscape, while outlining the investment model and prospects for potential operators, including the positive economic impact on local communities.

The UAE announced this year the appointment of its first-ever gaming regulator – the General Commercial Gaming Regulatory Authority (GCGRA) – and regulations are set to play a key part in any growth of the industry.

One of the world’s most renowned lawyers in gaming, Antonio Lobo Vilela, is flying in from Macau to speak on the topic. He previously played a key role as the senior legal adviser to the Macau Gaming Commission, where he oversaw the first gaming concessions in the special administrative region. Vilela will deliver insights into successful regulatory models and best practices, while touching on the trends of gaming regulations worldwide.

The event will also have a special focus on technology including the opportunities in the thriving world of Web 3.0. The UAE is a global pioneer in this field, with Dubai already unveiling a plan to become a hub for metaverse development. One leading firm in this arena, metaverse-focused specialist Megavrse, will showcase how consumers will be able to experience gaming virtually, and the impact this could have for the ecosystem both in the region and further abroad.

Other key speakers will be announced in the coming days.

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