20 Most Valuable Video Game Companies in the World

Published on October 31, 2023 at 5:51 pm by Zarah Hamid in Industries, Lists, News

In this article, we will be analyzing the global video game industry, some of the emerging industry trends and the 20 most valuable video game companies in the world. If you wish to skip our detailed analysis, you can move directly to the 5 Most Valuable Video Game Companies in the World.

The Global Video Game Industry at a Glance

According to a report by Grand View Research, the global video game industry was valued at $217.06 billion in 2022. The market is expected to grow to $583.69 billion by 2030, at a compound annual growth rate of 13.4% from 2023 to 2030.

Region wise, Asia Pacific is the most dominant region in the video game industry. The region accounted for more than 48% of the total revenue of the global market in 2022. Video games have been increasingly popular in countries such as China, Japan and South Korea. Chinese developers have also attracted gamers thereby contributing to the region’s market growth.

Current Industry Dynamics

On October 20, CNBC reported that publicly listed players in the video gaming market experienced a favorable year. The industry is offering ripe conditions for video gaming firms to enter into mergers and acquisitions to build their intellectual property. It has been predicted that major tech companies for instance Amazon, Microsoft, Google, Apple, Meta, Netflix, China’s Tencent and Japan’s Sony have $229.4 billion of combined cash on their balance sheets to allocate to potential gaming deals. One such deal just took place between Microsoft and the American video game publisher Activision Blizzard, which will be discussed in detail in the following section. This deal is expected to foster further mergers and acquisitions in the industry. The market was previously exposed to an economic slowdown and the aftereffects of the global pandemic. Video game publishers have also been facing the bitter impact of high inflation and interest rates, which have halted consumer spending on video games.

However, the video gaming market base is still massive and full of opportunities. Gaming venture capital funding has also been forecasted to rise over the coming quarters as the venture capital market is returning to pre-pandemic levels.

Emerging Players Leading the Market

The video gaming market is dominated by various incumbents including Sony Group Corporation (NYSE:SONY), Roblox Corporation (NYSE:RBLX) and Microsoft Corporation (NASDAQ:MSFT). Let’s take a look at recent updates from all of them.

Sony Group Corporation (NYSE:SONY) is a multinational conglomerate which operates a video gaming business. Sony Interactive Entertainment manages this business and has brought successful video games to the market such as God of War, Marvel’s Spider-Man and Days Gone. On October 26, CNBC reported that Sony’s PlayStation 5 is completely stocked at stores worldwide and is expected to hit the company’s target of reaching 25 million PS5 units shipped throughout 2023. Earlier, global chip constraints and supply chain issues resulted in a shortage of PS5 consoles. The company claims that this is the first year when PS5 is at full capacity. PS5 has sold many units and has already surpassed Microsoft’s Xbox Series X in terms of demand.

Roblox Corporation (NYSE:RBLX) is a known US video game developer. It offers free games to be played on the platform. Some of the trending video games on Roblox include Anime Champions Simulator, All Star Tower Defense, Pet Simulator X, and Blade Ball. On September 8, CNBC reported that Roblox is carrying out initiatives to attract more developers to the platform in an attempt to increase revenue. The upper-tier premium users on the platform will be enabled to create 3-dimensional goods on Roblox. Developers who create custom video games will have access to new coding tools that can help them make subscription-based services for their games on the platform. The company is also launching an interactive digital assistant which can help users create digital content in a convenient manner.

Microsoft Corporation (NASDAQ:MSFT) owns Xbox as its video gaming brand. The brand was first introduced in the United States when the company introduced the original Xbox console. Quantum Break, Gears of War: Ultimate Edition, Forza Horizon 5 and Halo Infinite are popular video games published by Microsoft Corporation (NASDAQ:MSFT). On October 13, Reuters reported that the company took part in the biggest gaming deal by closing a $69 billion deal to acquire Activision Blizzard. The acquisition was previously announced in January 2022. It was finally granted approval from Britain’s Competition and Markets Authority after Microsoft Corporation (NASDAQ:MSFT) agreed to sell streaming rights for Activision Blizzard games. This strategic move is expected to increase the popularity of Xbox as compared to its rival Sony’s PlayStation. Popular titles such as Call of Duty, Candy Crush, and Crash Bandicoot are being added to Microsoft’s Xbox gaming division under this acquisition. You can also view the best free PC games of 2023 and the best video game stocks to buy.

Now that we have navigated through the video gaming industry, let’s move to the 20 most valuable video game companies in the world.

20 Most Valuable Video Game Companies in the World

Our Methodology:

In order to compile a list of the 20 most valuable companies in the world, we conducted extensive research. Initially, we used the Yahoo stock screener to source a list of companies operating in the video gaming industry. We sorted the list by market capitalization to get the most valuable video game companies. Moving on, we consulted various industry reports for better coverage of all the major players in the industry.

Our list includes both pure-play video game companies and diverse companies with a notable video gaming division. For pure-play video game companies, we used the market capitalization as a metric to quantify value, as of October 30. For other companies, we used the 2022 annual revenue from their video gaming segment.

Finally, we ranked the 20 most valuable video game companies in the world in ascending order of their market capitalization or annual revenue from the video gaming segment.

20 Most Valuable Video Game Companies in the World

20. Sea Limited (NYSE:SE)

Annual Revenue from Video Gaming Business: $3.87 Billion

Sea Limited (NYSE:SE) is a leading global video game company. In 2022, the company recorded a revenue of $3.87 billion from its video gaming business. It is a Singaporean tech conglomerate that runs Garena as its video gaming business. Garena develops and publishes online games. Published game titles include Firefall, League of Legends, Heroes of Newerth, FIFA Online 3, Point Blank, Arena of Valor and Speed Drifters.

19. GameStop Corp. (NYSE:GME)

Market Capitalization: $4.0 Billion

GameStop Corp.(NYSE:GME) is an American video game company that serves as one of the major retailers of video games worldwide. It operates in the US, Canada, Australia and Europe. GameStop Corp.(NYSE:GME) also retails video gaming consoles and controllers. As of October 30, the company is worth $4.0 billion and is one of the most valuable video game companies in the world.

18. Koei Tecmo Holdings Co., Ltd. (OTC:TKHCF)

Market Capitalization: $4.29 Billion

Koei Tecmo Holdings Co., Ltd. (OTC:TKHCF) holds a market value of $4.29 billion, as of October 30, and is a valuable video game company. Koei Tecmo Games operates as the game developer and publisher for the parent company. Dead or Alive, Dynasty Warriors, Nioh, Fatal Frame and Attack on Titan are among the known video games from Koei Tecmo Holdings Co., Ltd. (OTC:TKHCF).

Sony Group Corporation (NYSE:SONY), Roblox Corporation (NYSE:RBLX) and Microsoft Corporation (NASDAQ:MSFT) hold a strong market position in the global video gaming industry.

17. Kingsoft Corporation Limited (OTC:KSFTF)

Market Capitalization: $4.95 Billion

Kingsoft Corporation Limited (OTC:KSFTF) also makes it to the 20 most valuable video game companies in the world. Seasun Games is the company’s subsidiary which focuses on video game development. Some of the notable games developed by Seasun Games include Heroes Quest, JX Online 3, and Dawnlands. As of October 30, the company is worth $4.95 billion on the open market.

16. Kunlun Tech Co., Ltd. (SHE:300418)

Market Capitalization: $5.14 Billion

Kunlun Tech Co., Ltd. (SHE:300418) is a dominant global video game company. The company holds a market value of $5.14 billion, as of October 30. Website games, mobile games, and client games are a part of the company’s portfolio. It also engages in the production and distribution of video games in China and global markets. Kunlun Tech Co., Ltd. (SHE:300418) is based in Beijing, China.

15. Krafton, Inc. (KRX:259960)

Market Capitalization: $5.8 Billion

Krafton, Inc. (KRX:259960) is a popular video game company headquartered in South Korea. The company is worth $5.8 billion, as of October 30, and ranks as one of the 20 most valuable video game companies in the world. Famous video games from the company include PUBG: Battlegrounds, New State Mobile, The Callisto Protocol and Thunder Tier One.

14. 37 Interactive Entertainment Network Technology Group Co., Ltd. (SHE:2555)

Market Capitalization: $6.07 Billion

37 Interactive Entertainment Network Technology Group Co., Ltd. (SHE:2555) ranks as a major video game company worldwide. The company produces and distributes online games in China. 37Online, 37Mobile, and 37GAMES are among the game publishing platforms for the firm. 37 Interactive Entertainment Network Technology Group Co., Ltd. (SHE:2555) has grown to Beijing, Shanghai, Hong Kong, Europe, North America, Japan, and South Korea and is worth $6.07 billion, as of October 30.

13. Konami Group Corporation (OTC:KONMY)

Market Capitalization: $7.61 Billion

Konami Group Corporation (OTC:KONMY) currently ranks as one of the largest video game companies in the world. Konami Digital Entertainment is the company’s division that produces and publishes video games. Metal Gear, Silent Hill, Contra, Frogger, Gradius, Suikoden, and eFootball are among the company’s video game franchises. As of October 30, Konami Group Corporation (OTC:KONMY) is worth $7.61 billion. The company serves worldwide.

12. Capcom Co., Ltd. (OTC:CCOEF)

Market Capitalization: $8.35 Billion

Capcom Co., Ltd. (OTC:CCOEF) is a valuable video game company in the world and is worth $8.35 billion, as of October 30. The company is based in Japan and has produced multiple successful game franchises including Resident Evil, Monster Hunter, Street Fighter, Mega Man, Dead Rising and Ace Attorney. Capcom Co., Ltd. (OTC:CCOEF) has expanded its business to Taiwan, Singapore, California, London, Hong Kong, and England.

11. Unity Software Inc. (NYSE:U)

Market Capitalization: $9.79 Billion

Unity Software Inc. (NYSE:U) is the developer of Unity, a cross platform game engine used to create video games. Two dimensional and three dimensional games as well as interactive simulations can be made with Unity. Popular games made with Unity include Pokemon Go, Among Us, Return Of The Obra Dinn, Fall Guys, and Turbo Golf Racing. As of October 30, the company is valued at $9.79 billion, and is one of the 20 most valuable video game companies in the world.

10. Bandai Namco Entertainment Holdings Inc. (OTC:NCBDF)

Market Capitalization: $13.56 Billion

Bandai Namco Entertainment is a multinational video game publisher originally from Japan. It is a subsidiary of Bandai Namco Holdings Inc. (OTC:NCBDF). The company owns several video game franchises such as Pac-Man, Tekken, Tales, Taiko no Tatsujin, Ace Combat and Dark Souls. As of October 30, Bandai Namco Entertainment Holdings Inc. (OTC:NCBDF) is worth $13.56 billion thereby ranking as another valuable video game company in the world.

9. NetEase, Inc. (NASDAQ:NTES)

Annual Revenue from Video Gaming Business: $14.23 Billion

NetEase, Inc. (NASDAQ:NTES) qualifies as one of the significant video gaming companies in the world. It operates NetEase Games as its online games division which manages and publishes video games. Westward Journey series, Heroes of Tang Dynasty Zero, Nostos and Onmyoji are among the video games from the company. In 2022, NetEase, Inc. (NASDAQ:NTES) recorded an annual revenue of $14.23 billion.

Investors who wish to seek exposure to the global video gaming business can look up Sony Group Corporation (NYSE:SONY), Roblox Corporation (NYSE:RBLX) and Microsoft Corporation (NASDAQ:MSFT).

8. Nexon Co., Ltd. (OTC:NEXOF)

Market Capitalization: $14.56 Billion

Nexon Co., Ltd. (OTC:NEXOF) is a South Korean video game publisher which ranks as one of the 20 most valuable video game companies in the world. As of October 20, the company is worth $14.56 billion. MapleStory, Dungeon & Fighter, Sudden Attack and KartRider are among the company’s published titles. Nexon Co., Ltd. (OTC:NEXOF) operates a free-to-play game model and operates in various countries including China, Korea, Japan and the United States.

7. Microsoft Corporation (NASDAQ:MSFT)

Annual Revenue from Video Gaming Business: $16.2 Billion

The Microsoft Gaming division runs the video gaming business for Microsoft Corporation (NASDAQ:MSFT). Xbox Game Studios is a part of this division and publishes video games. This group of studios is responsible for developing and publishing many known video game franchises such as Age of Empires, Gears of War, Halo, Minecraft, Fallout, and Microsoft Solitaire. In 2022, the company had a gaming revenue of $16.2 billion and is therefore ranked as one of the most valuable video game companies globally.

6. Sony Group Corporation (NYSE:SONY)

Annual Revenue from Video Gaming Business: $18.35 Billion

Sony Interactive Entertainment LLC is the video gaming division of Sony Group Corporation (NYSE:SONY). It develops and publishes video games through its popularly known PlayStation brand. The PlayStation Brand has an established line-up through the company’s PlayStation Studios. Some of the popular PlayStation Studio games of all time include The Last of Us, Marvel’s Spider-Man and the God of War franchise. The company recorded an annual gaming revenue of $18.35 billion in 2022.

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