Market Trends
Last updated
Last updated
The worldwide blockchain market witnessed substantial expansion, surging from $1.49 billion in 2020 to $4.9 billion in 2021. This remarkable growth trajectory is projected to persist, with an anticipated Compound Annual Growth Rate (CAGR) of 68.4%, propelling the market to a staggering $67.4 billion by 2026.
Notably, the NFT and Game sector has emerged as a standout contributor to this growth story. In 2021, the NFT market experienced an extraordinary annual growth rate, soaring to an astounding 5,438%. This meteoric rise is exemplified by the cumulative transaction volume across the top 10 NFT marketplaces, which soared to an impressive $23.9 billion.
The market for blockchain-driven games, encompassing those utilizing FTs (fungible tokens) and NFTs (non-fungible tokens), is poised to surpass a monthly transaction volume exceeding $1 billion.
The global gaming industry is in a phase of rapid expansion. While the impact of COVID-19 had positive effects on the gaming market, leading to growth beyond expectations, it also brought about adverse consequences, such as the lockdowns in the first half of 2020, which disrupted the operations of game studios, and disruptions in the global supply chain.
Breaking down the gaming market, it is estimated to comprise PC games worth $35.9 billion, console games valued at $49.2 billion, and mobile games amounting to $90.7 billion, with mobile gaming contributing to more than half of the total market share.
Projections indicate that the global gaming market will continue its upward trajectory in the coming years, likely surpassing $200 billion by the conclusion of 2023. Anticipated to grow at a Compound Annual Growth Rate (CAGR) of +7.2%, the gaming market is poised to reach a substantial $204.6 billion between 2019 and 2023.
