全球视频游戏：2025年游戏行业现状-对全球行业趋势的深度剖析

9 June 2025Global Video GamingGlobal Video Gaming: The State of Play, 2025 - a deep dive onglobal industry trendsRobin Zhu+852 2123 2659robin.zhu@bernsteinsg.comMark L. Moerdler, Ph.D.+1 917 344 8506mark.moerdler@bernsteinsg.comFiroz Valliji, CFA+1 917 344 8316firoz.valliji@bernsteinsg.comDavid Dai, CFA+852 2918 5704david.dai@bernsteinsg.comMin-Joo Kang+852 2123 2644minjoo.kang@bernsteinsg.comCharlie Peng+81 3 6777 6993charlie.peng@bernsteinsg.comCharles Gou+852 2123 2618charles.gou@bernsteinsg.comShelly Tang, CFA+1 917 344 8342shelly.tang@bernsteinsg.comOur annual top-down look at video gaming. This note serves as our annual deep diveon the global video gaming industry from a top-down perspective. While we typically arguevideo gaming assets are best analysed bottom-up, there is value too in maintaining someperspective of the broader industry. We also zoom in on some key debates in the industry.We estimate US$205bn of industry revenue in 2024, +4.7% in 2025. We’ve updatedour global vid