In 2021, the video games industry will generate $189.3 billion in revenue, partly driven by the emerging markets like Southeast Asia and the Middle East & Northern Africa.
This is according to the latest report by games and esports analytics firm Newzoo.
Among other highlights:
- There will be 2.8 billion gamers worldwide next year.
- While there has been a surge in spending and engagement across all platforms this year, the growth will slow down in 2021, which will be especially articulated on mobile. The ongoing transition to F2P spending on console will contribute to the platform’s sticking power.
- Yearly cloud gaming revenues will exceed $1 billion for the first time in 2021, with cloud gaming web apps finally available on iOS. Moreover, the famously messy launch of Cyberpunk 2077 proved that Stadia or GeForce Now subsribers can have a much better experience than those relying on the local processing power of the past-gen consoles.
- Games will continue to grow as a “metaverse” capable of hosting simulated activities such as concerts and even marriages.
- Games will further promote diversity and inclusion.
You can read the full report here.