According to the 2022 Global Games Market Report(Opens in a new window) from Newzoo, the number of individuals who spent time in 2022 playing video games might reach over 3.5 billion by 2025, up from 2.9 billion in 2020.
“The last two years (2020 and 2021) saw not only record-level engagement and expenditure but also attracted many new and lapsed players back to the game,” Newzoo claims.
In spite of this expansion, the video game industry had a 4.3% drop in revenue to $184.4 billion in 2022. However, it is probably just a quick fix after the epidemic, when everyone was quarantined and had nothing better to do but spend their time playing video games and acquiring pets. (Thank goodness, the majority of people are not abandoning their pets in favor of virtual companions.) It’s important to consider inflation as well.
The Asia–Pacific region is where you’ll find the most gamers. North America ranks just sixth with 7%, but accounting for 26% of market sales, behind behind the Asia-Pacific region.
Each region’s income declines or rises as expected; only Latin America and the Middle East/Africa enjoy gains in 2022.
Mobile gaming is crucial to this. It’s worth $92.2 billion and accounts for half of the market worldwide. Browser-based PC games make up the smallest segment of the gaming industry, yet they’re still worth $2.3 billion.
The report’s authors argue that gaming is somewhat “recession-proof,” as its popularity is unlikely to decline even in the face of rising prices and increased interest in the great outdoors. As the economy recovers, growth will resume at a brisk pace. The gaming industry is forecast to be worth $211.2 billion by 2025, at a compound annual growth rate (CAGR) of +3.4%. The setback this year is minor. In addition, Newzoo’s projections for revenue growth from 2020–2022 ended up being $43 billion greater than expected.
The report’s authors argue that gaming is somewhat “recession-proof,” as its popularity is unlikely to decline even in the face of rising prices and increased interest in the great outdoors. As the economy recovers, growth will resume at a brisk pace. The gaming industry is forecast to be worth $211.2 billion by 2025, at a compound annual growth rate (CAGR) of +3.4%.
The setback this year is minor. Plus, Newzoo’s projections for revenue growth from 2020 to 2022 were $43 billion greater than they were before the epidemic hit.
