The latest report from Newzoo says that the game industry has witnessed another record year of revenue with a figure of up to 180.3 billion USD.
According to Gadgetendency, this number increased by 1.4% in the past year, due to isolation measures related to the mainly Covid-19 pandemic. Previously, Newzoo experts predicted the market would shrink 1.1% to $175.8 billion, but the actual data beat analysts’ expectations, mainly due to the growth. non-stop of the mobile sector (up 7.3% y/y).
The record shows that the PC and markets gaming console also performed better than expected, bringing in $0.8 billion and $1.2 billion, respectively, compared to previous estimates.
The business cloud has also shown significant growth this year, with revenue more than doubling from last year. Newzoo predicts further growth over the next three years. The total number of players this year has reached 3 billion.
The gaming market is expected to surpass $218.7 billion by 2024. Of this, $116.4 billion will come from the mobile segment. In addition, cloud gaming will increase to $6.5 billion in revenue and sports e- to $1.6 billion.