Newzoo: Game market will hit $200B in 2024

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The world sport market will develop from $175.8 billion in 2021 to higher than $200 billion in 2024, primarily based totally mostly on the 2021 World Video games Market Fable by Newzoo.

From 2019 to 2024, the market will develop with a wholesome compound annual enhance rate (CAGR) of 8.7% to attain $218.7 billion in 2024,


surpassing the $200-billion threshold in 2023.

Powered by gleaming below 3 billion avid gamers, the world video games market will generate $175.8 billion in 2021, down 1.1% from a year earlier. The decline will be attributable to shrinkage of the PC and console market.

The PC market will decrease 2.8% from a year ago to $35.9 billion in 2021, while the console market will dip 8.9% in 2021 to $49.2 billion. That’s since the after-effects of COVID-19 will shape the market this year, leading to delays of wide video games and shortages of contemporary consoles.

Newzoo forecasts the cell gaming market will generate $90.7 billion in user spending in 2021, increasing 4.4% from a year ago. Here’s higher than half of of the world video games market, because the section is less tormented by the effects of COVID-19 than PC and console gaming.

The video games market’s lengthy-term trajectory remains undeniably optimistic, but the market merely can no longer withhold 2020’s spectacular enhance for one other year. The market’s small decline this year is transient-term, the sequence of avid gamers is increasing, and the map in which they decide with the passion is changing into extra complex, Newzoo mentioned.

The metaverse model is additionally accelerating at an unprecedented rate, and digital fact is all as soon as more dazzling after a few mute years. To that pause, this year’s document aspects a irregular focal level on each and every topics as properly as market estimates, trends, rankings, and files.

Regional enhance

Above: The world sport market retains increasing.

Train Credit rating: Newzoo

The Asia-Pacific command by some distance accounts for basically the most players worldwide (55% of the world number), which makes sense because the command is dwelling to roughly the the same share (54%) of the sphere’s on-line population.

Asia-Pacific’s high share of players is in no dinky share attributable to the big population numbers in China, but the command additionally contains enhance areas equivalent to India and Southeast Asia.

However when it involves revenues, Europe and North The US carefully overindex for player spending, collectively accounting for over 40% of video games revenues. However remarkably, the 2 markets dwelling no longer as a lot as a quarter of 2021’s avid gamers worldwide (14% in Europe and 7% in North The US).

Many established sport companies in Europe and North The US are an increasing number of paying attention to markets in the Heart East and Africa


and Latin The US.

These two areas are the sphere’s quickest-increasing when it comes to sequence of players. As is the case yearly, the main drivers for player enhance in Latin The US and the Heart East and Africa are: enhance of their on-line population; enhancing web infrastructure; and smartphone and cell web knowledge plans changing into extra sensible.

For the same causes, Western developers are eyeing among the most effective-seemingly markets in Asia-Pacific too, alongside side China, India, and enhance markets in Southeast Asia.

Higher than 90% of 2021’s avid gamers play through cell

Above: The sport industry will hit $204 billion by 2024.

Train Credit rating: Newzoo

Attributable to Asia-Pacific’s elope for food for cell video games, as properly because the section’s accessibility and ubiquity in all markets, 2.8 billion of the sphere’s 3.0 billion avid gamers this year will play on a cell application. Here’s compared with 1.4 billion on PC and 900 million on console.

There’s understandably a good deal of crossover here, as extra consumers than ever earlier than play across multiple segments. Here’s in share driven by the ongoing model of platform agnosticism (blurring traces between platforms), which is in turn driven by crossplay, Newzoo mentioned.

More player enhance is coming

Player enhance charges from 2020 to 2021 are already spectacular (+5.4%), and a lot of the contemporary avid gamers to enter the market at some stage in the pandemic will proceed spending and enticing with the passion. Alternatively, worthy extra players will enter the market.

In 2015, the player number sat at gleaming over 2.0 billion. By 2024, that can turn into 3.3 billion. However the ways many players are taking part with video games has modified, accelerating regarded as one of basically the most talked-about and potentially disruptive trends available in the market.

Into the metaverse

Above: The sequence of world players is rising step by step.

Train Credit rating: Newzoo

Whereas all individuals become as soon as confined indoors, the position of video games speedily superior into something extra main than an entertainment medium.

Video games delight in turn into something of an extension of our world: a key destination for social gatherings and a technique to celebrate lifestyles events. Populated by digital avatars as an expression of the self, sport worlds empower communities to host a wealth of social, human experiences which could perchance perchance perchance perchance be unimaginable through diverse media, Newzoo mentioned.

This enhance of on-line digital worlds—and the activities within them—has resulted in waves of consideration and funding around what is typically in most cases known because the metaverse.

The metaverse model, speedily accelerated by COVID-19, is extremely effective passable to persist beyond COVID-19. Newzoo believes the metaverse has a important share to play in gaming’s future.

In 2020, the world digital fact (VR) video games market generated total revenues of $816 million through user spending, which is defined as VR video games revenues generated through user VR headsets in a position to 6DoF positional tracking.

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