The global games market will grow at 2.1 percent to reach $187.7 billion in 2024 against the previous forecast of $189.3 billion, Newzoo said in its latest report.
Though overall playtime has declined since its peak in early 2021, gamers still play and pay for gaming, showing the market’s resilience, Michiel Buijsman, Principal Analyst at Newzoo, said.
The global games market will reach $213.3 billion in three years.
Mobile games will be $92.6 billion (up 3 percent), accounting for nearly half of the global games market in 2024.
The PC games market will be $43.2 billion (up 4 percent) as a result of cross-platform releases and a lack of major titles on console. Consumer spending on PC games will account for 23 percent of total revenue in 2024.
Console games is expected to decline 1 percent year-on-year and reach $51.9 billion, but will make up 28 percent of the overall revenue.
The number of gaming player will increase to 3.42 billion (up 4.5 percent) in 2024. PC gaming players will grow 3.9 percent to reach over 900 million.
Console gaming player growth is estimated to slow to 2.9 percent compared to last year. Mobile gaming players are forecast to increase by 3.5 percent to 2.85 billion.
Asia-Pacific region will have 1.8 billion (up 4 percent) gaming players, making up 53 percent of the global total. North America will be accounting for 7 percent of the global players.
PlayStation 5 maker Sony last week reported fewer console sales in its first quarter compared to a year ago. The company cut its forecast for full-year console sales in May.
