Xsolla has released The Xsolla Report: State of Play Q3 2025 Edition, Vol. 8, an updated analysis of the factors shaping the global games industry.
The report provides developers and publishers with data-led insights into growth, monetization, and engagement trends across key regions, including China, Europe, and MENA.
The Q3 2025 edition highlights steady market performance, with the global player base expected to reach 3.6 billion by the end of the year and overall revenue projected at $188.8 billion. The report notes that console hardware refreshes, rising PC adoption in Asia, and the ongoing strength of mobile gaming support this continued growth.
Regional overviews show China's market approaching $50.7 billion in 2025, mainly driven by mobile, niche genres, and user-generated content. Europe remains a diversified market, forecast at $33.1 billion, where mobile leads and regulatory frameworks such as the Digital Markets Act continue to shape competition. In MENA, a growing $7.45 billion market is expanding access through localized wallets and alternative payments.
The report also outlines wider market patterns. Players are spending more on fewer, higher-quality titles, while developers are emphasizing live-ops and premium casual content to maintain engagement. On the operational side, studios are focusing on streamlining payments, onboarding, and automation to manage costs and improve retention. Venture funding remains selective, totaling $193 million in Q2 2025, with Asia and North America leading in deal activity.
Event takeaways from major industry gatherings such as ChinaJoy and Gamescom point to emerging opportunities in SDK-based monetization, curated ad supply paths, cloud distribution, and alternative payment systems as near-term differentiators.
"This year has been one of steady momentum across every major gaming market. Our State of Play report delivers the data and the context developers need to make decisions with confidence from payments and distribution to engagement and retention, so they can scale thoughtfully in the months ahead."
Chris Hewish, President at Xsolla
The State of Play Q3 2025 Edition includes commentary from industry experts, visualized data on player demographics, platform performance, and investment activity, as well as practical takeaways for developers planning for late 2025 and beyond. The full report is available here.
Previously, we also shared a new report from GamesBeat, presented by Xsolla, that dives into how Japan, South Korea, and Southeast Asia are shaping the future of gaming – from mobile powerhouses to booming esports scenes.