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 year, gamers will spend $159.3 billion on games. This is up 9.3% from last year. The main growth drivers are the pandemic and the upcoming launch of new consoles.
In its latest report, Newzoo projects that in 2020 video games industry will generate $159.3 billion in revenue, up 9.3 percent from 2019. This will come from 2.7 billion gamers around the world.
Newzoo has shared a forecast for the global esports market for 2020-2023. According to the analyst firm, this year, the segment’s revenue will, for the first time, exceed $1 billion.
Newzoo CEO Peter Warman spoke at the White Nights business conference in Amsterdam. He shared his vision of where the market is going and dropped some interesting figures.
According to analyst firm Newzoo, games will generate over $160 billion next year. The market will grow 7.3% from 2019, but the growth continues to slow down after the explosive 2018.
The video game market is growing slower than a year before and slower than Newzoo analysts predicted earlier.
Women take the lead among mobile gamers in the Japanese market. This is according to the report by China’s Gamma Data based on the stats from Newzoo.
In China, there is a clear preference for free-to-play games. According to a survey, 61% of the players in the Middle Kingdom choose free games over premium.