Good News for Global Gaming Market; 2023 Will End on Positive Note
The gaming market is growing strong. The increase in its value compared to last year is a good omen for the future.
Source: Unsplash | Jeshoots
i
It has been known for a long time that the video game market is huge business, and for some time now it has no longer been associated only with children's entertainment. The sums generated here are huge, and according to the latest estimates this year will see an increase in revenue compared to 2022.
The global gaming market is going from strength to strength
- According to Newzoo, which analyzes information on digital entertainment, among other things, in 2023, the estimated value of the global game market will be $187.7 billion, which is 2.6% better than in 2022.
- The console market is valued at $56.1 billion, an increase of as much as 7.4%.. This is thanks to such titles as Hogwarts Legacy, Legends of Zelda: Tears of the Kingdom or Diablo 4, which debuted in the first half of this year. A sizable contribution will also be made by future launches, such as Starfield or Spider-Man 2.
- Interestingly, in terms of the value of the mobile game market, there is talk of a figure of $92.6 billion. This represents an increase of only 0.8%, which is due to the fact that publishers are facing difficulties related to policies of Apple and Google on monetization and data collection regarding user privacy.
- As for the largest public companies in terms of gaming revenue, Newzoo estimated that no. 1 is Tencent, followed by Sony and Apple. Microsoft is in fourth place, and Activision Blizzard in seventh - together they would rank second, just above Sony.
- Newzoo also claims that the global game market is likely to reach $212.4 billion in revenue by 2026, the main factors for which are expected to be the continued strong sales of current-generation consoles and the successor to the Nintendo Switch.
