Gaming Market Forecast Over $182 Billion

Newzoo has published the final version of its 2024 global games market report. After multiple adjustments throughout the year, the final forecast stands at $182.7 billion, representing a 3.2% year-over-year increase. While this updated figure shows improvement compared to the March 2024 revision of $177.9 billion, it remains below the original projection of $184.3 billion made earlier in the year. The revised estimate reflects changing market dynamics, with some segments showing stronger than expected performance.

Gaming Market Forecast Over $182 Billion

Gaming Market Forecast Over $182 Billion

Mobile games recorded the strongest performance in 2024, growing by 5.5% year-over-year to reach $100.3 billion in global revenues. This growth was largely driven by gains in the United States and Europe, alongside a 3.1% increase in China’s mobile gaming market. The PC gaming segment also experienced solid growth, rising 4.4% year-over-year to $39 billion. This increase was supported by continued user engagement on platforms such as Steam, particularly in China, where Windows PC gaming has shown notable expansion.

Meanwhile, the console gaming market saw a year-over-year decline of 2.5%, bringing the total to $43.5 billion. Despite a steady user base, consumer spending on console titles fell short compared to earlier expectations. In the virtual reality (VR) segment, the global active user base reached 28.6 million by the end of the year. However, overall game spending in VR declined by 3.6%, totaling $1 billion in 2024.

Overall user engagement in gaming increased in 2024, with time spent in games growing by 6% across Newzoo’s tracked markets. The Chinese market, in particular, recorded a 5.6% year-over-year increase in total gaming revenue. Key drivers of this growth included a rebound in PC gaming, the return of Blizzard titles to the market, growing interest in consoles, and steady performance in the mobile segment.

Gaming Market Forecast Over $182 Billion

Market Forecast Through 2027

Looking ahead, Newzoo projects that the global games market will reach $188.9 billion in 2025. The industry is expected to grow at an average annual rate of 3.3% through 2027, with total revenues forecast to reach $200 billion by the end of that period. Within this outlook, the PC segment is expected to grow by 3% annually. Contributing factors include rising popularity in Southeast Asia and Japan, an expanding user base, increased game pricing, and higher engagement among younger generations such as Gen Z and Gen Alpha.

The console market shows potential for stronger growth, with an expected annual increase of 5.6% from 2024 through 2027. This projection takes into account the anticipated release of major titles like GTA VI, the launch of the next-generation Nintendo Switch, and broader trends in premium game pricing and monetization strategies. Mobile gaming is forecast to grow at an average rate of 2.4% per year during the same period. Factors contributing to this include regulatory developments, the expansion of direct-to-consumer (D2C) models, higher publisher margins, and increased reinvestment into content.

Gaming Market Forecast Over $182 Billion

Continued Industry Monitoring

Newzoo’s updated projections reflect a cautious but generally positive view of the global gaming market. While some segments have underperformed compared to initial forecasts, the overall industry continues to demonstrate resilience and adaptability. As the industry evolves, particularly with ongoing developments in mobile, PC, console, and web3 gaming, tracking regional trends and user behavior will remain central to understanding long-term growth trajectories.

Source: Newzoo