Gaming has emerged as a significant global industry, benefiting from new technologies that offer opportunities to reach a broader audience and create innovative titles to meet consumer demand.
In light of the above, a new study has shown that revenue in the global gaming market is projected to reach $212.4 billion by 2026. The paper also highlights that mobile platforms will continue to lead the growth in this sector.
According to market data platform Newzoo‘s August market update, the projected figure of $212.4 billion in global gaming market revenue by 2026 would be up by over 13 percent from an estimated $187.7 billion in 2023. This represents a 2.6 percent increase from the previous year, indicating that gaming has become fully integrated into the mainstream.
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The Amsterdam-based company revealed that the surge in revenue will be predominantly driven by mobile games, which are expected to experience a marginal growth of 0.8 percent. They are projected to account for $92.6 billion, which is nearly half of all revenue, this year.
Console games, with a projected revenue of $56.1 billion, are expected to be the second-largest segment, accounting for 30 percent of the total revenue. This segment is also anticipated to experience the highest annual increase of 7.4 percent.
The next segment will be PC games, generating $37.1 billion in revenue, which accounts for 20 percent of the total. This represents a 1.6 percent increase compared to the previous year. Browser-based PC games, on the other hand, are projected to amass $1.9 billion, contributing 1 percent of the revenue. However, this segment is expected to experience the largest annual decline of nearly 17 percent.
Asia-Pacific dominance
In terms of regional distribution, Asia-Pacific is expected to maintain its leadership in revenue generation, projected to reach $85.8 billion in 2023, accounting for a 46 percent market share. North America follows with $51.6 billion (27 percent), Europe with $34.4 billion (18 percent), and Latin America with $8.8 billion (5 percent).
Middle East’s gaming boom
The Middle East and Africa region, despite being projected to have a market share of 4 percent and revenue of $7.2 billion this year, is expected to experience the most significant revenue growth of nearly 7 percent. The four aforementioned regions are anticipated to record growth rates of 1.2 percent, 3.8 percent, 3.2 percent, and 4.3 percent, respectively.
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