The video game industry has seen tremendous growth in recent years, with the global market expected to reach over $200 billion by the end of 2023. With this growth, comes an increase in the number of companies in the market, making it increasingly difficult for gamers to keep up with who is leading the pack. However, there are a select few companies that have managed to dominate the market and establish themselves as the biggest players in the industry. These companies are known for their innovative gameplay, unique experiences, and quality products that have garnered millions of fans worldwide. In this article, we’ll be taking a look at the top 10 biggest video game companies dominating the market and what sets them apart from the competition.
Top 10 biggest Video Game Companies Dominating the Market
In 2023, Sony retains its position as the largest video game company globally. The Japanese tech giant generates a significant portion of its gaming revenue, which amounted to $28.2 billion last year, through the highly popular PlayStation 5 which was released in 2020 and became the world’s top next-gen video game console. Besides this, Sony also creates and publishes original video games for its console, including the critically acclaimed God of War and Spider-Man games developed by Sony-owned studio Insomniac Games. The company’s handheld video game console, the PlayStation Vita, has also played a key role in solidifying Sony’s position as the number one player in the video game market.
The world’s largest software company is also the world’s second-largest video game company. Microsoft made around $16.2 billion with Xbox Game Studios, the company’s gaming branch. The gaming revenue was in huge parts generated by Microsoft’s next-gen Xbox Series X/S console, but Microsoft additionally develops video games itself or owns studios that do. A good example of this is Mojang. The Swedish video game studio, which is owned by Microsoft, is known for creating Minecraft, which has recently become the most popular video game in history. In 2022, Microsoft announced its plan to acquire Activision Blizzard for $68.7 billion, which would mark the most expensive acquisition ever within the video gaming industry.
Chinese internet conglomerate Tencent boasts impressive gaming revenue of $13.9 billion through its involvement in the video game industry. Tencent primarily focuses on online and mobile smartphone games, such as the popular PUBG: Mobile and Honor of Kings. However, through its ownership of various video game studios worldwide, Tencent has become a significant player in the video game industry on both mobile and console platforms.
Tencent is the owner of Riot Games, the American video game studio responsible for creating the widely popular multiplayer battle arena game, League of Legends. The game is enjoyed by millions of players worldwide, including professional gamers. Tencent also holds stakes in several other prominent video game companies, including Epic Games and Activision Blizzard in the US, Krafton Game Union in South Korea, and 5% of French video game company Ubisoft.
Taking fourth place in the 2023 ranking of the top 10 largest video game companies is the oldest still active video game company in the world, Nintendo. It also holds the distinction of being the world’s largest pure video game developer. Nintendo’s revenue success, which reached $13.8 billion last year, is largely driven by the continued sales of its Nintendo Switch console and its historically successful Pokemon franchise. The latest installment of Pokemon was once again the best-selling video game for Nintendo in the past year.
Activision Blizzard ranks fifth in the 2023 list of the top 10 largest video game companies. The California-based video game studio was established in 2008 through the merger of Activision and Blizzard Entertainment. It generated $7.4 billion in revenue last year, largely driven by its most successful game series, Call of Duty. The latest installment, Call of Duty: Modern Warfare 2, once again proved to be the company’s main source of sales.
Electronic Arts, also known as EA, is among the largest video game companies in the world and holds the top position in the sports games segment of the video game market. Its sports franchises, such as FIFA and Madden, are the biggest sports game brands in the world and among the most successful video game franchises. EA also produces several non-sports video games, including popular franchises like The Sims, Battlefield, Medal of Honor, and the racing game Need for Speed.
Epic Games currently ranks seventh among the biggest video game companies in the world. Despite having been established since the early 1990s (as “Epic MegaGames”), it has only recently established itself as a giant in the global video game market. The company’s flagship game is the online battle royale game Fortnite, which has become one of the world’s most popular video games since its release in 2017. Tencent and Sony both hold minority stakes in the company.
Take-Two Interactive ranks eighth among the largest video game companies in the world and is also in the Top 5 among the largest single-focused video game companies. The company operates as a holding company that owns several video game studios that produce and publish a variety of video games under different labels. For instance, the popular NBA 2K series is produced by the company’s 2K studio, while the highly successful Grand Theft Auto and Red Dead Redemption franchises, both of which are among the most successful video games in history, are developed and published by Take-Two Interactive’s subsidiary Rockstar Games.
Bandai Namco, which is primarily a toy and children’s products manufacturer, has been involved in the video game industry for many years and is considered one of the largest video game companies in the world. The company was formed from the merger of Bandai and Namco in 2005 and is renowned for creating classic video game franchises like Pac-Man, Sonic the Hedgehog, and Tekken. Bandai Namco is also recognized for its anime-based video games such as Dragon Ball, as well as its recent successful original titles like the action RPG Elden Ring.
Ubisoft is also one of the largest video game companies in the world, and it is the largest video game company in Europe. Ubisoft was an early player in the global video game industry and has maintained its success over time. Today, the company’s video game portfolio includes popular franchises such as Far Cry and Assassin’s Creed, as well as the Tom Clancy’s Rainbow Six shooter series. Tencent holds a minority stake in the French company.