The Global Games Market Is On Target To Generate $187.7 Billion In 2024.
Newzoo, a leader in video games and gamer data have released their latest Global Market Report.
With gaming partnerships always on the table for the music industry, Their latest ‘Global Games Market Report’ sheds some useful stats & numbers.
The Global Games Market Report 2024 – Newzoo’s premier publication and part of the Games Market Reports and Forecasts subscription, our annual market estimates and forecasts through the next several years in gaming.
The market is growing and there are opportunities out there for intrepid studios of every scale.
• After last year’s cautious return to growth, the market will grow by +2.1% year on year to reach an estimated $187.7 billion. Gaming will captivate an anticipated 3.4 billion enthusiasts this year, with its influence extending throughout the expansive media and entertainment landscape.
• PC revenue growth will outpace the mobile and console segments this year before the roles reverse from 2025 onward. Cross-platform releases and a lack of console content will, among other factors, contribute to PC’s growth leadership.
• The console gaming market will be relatively dormant this year (before Grand Theft Auto VI changes the game entirely). Console game revenues will drop -1.0% year on year, but growth will likely return with a bang in 2025.
• Mobile gaming will account for 49% of this year’s global revenue, growing +3.0% year on year to reach $92.6 billion.
• North America will generate $50.2 billion in game revenues in 2024
Breaking down global revenues by region, it’s clear that Asia-Pacific and North America are the dominant markets, though growth in emerging markets outpaces these established regions.
• Nearly half of all consumer spending on games in 2024 will come from the US and China, with the US generating $47.0 billion and China contributing $45.0 billion to the global total. North America will account for 27% of all market revenues.
• The global games market will reach a forecasted $213.3 billion in 2027
As the market steadily grows once again in 2024, the question remains: will this growth last? The short answer is yes. In 2027, the total market is expected to reach revenue figures of $213.3 billion with a 2022-2027 CAGR of +3.1%.
