Global Gaming Market Shows Diverging 2024 Trends

Steam recorded its best first half ever in 2024, generating US$11.1 billion in revenue – a 14.5 % increase from the same period in 2025 – with 79 % of that income coming from catalog sales of existing titles. Analysts attribute the growth to re‑discoveries of older games and promotional strategies tied to new franchise entries.

In contrast, global console sales are projected to fall 19.5 % this year to about 33.9 million units, the lowest level in years. PC revenue rose 13 % in the second quarter, while PlayStation and Xbox sales slipped 5 % and 7 % respectively. Nintendo is the exception, posting a 90 % surge driven by the upcoming Switch 2.

The broader industry is also seeing continued expansion in mobile gaming, virtual‑reality experiences, and esports betting, while private investment in gaming reached US$3.1 billion, six times the previous year. These patterns highlight a market that is growing in some segments while contracting in traditional console hardware.