The mobile market is expected to be the main driver of this growth.
According to a recent report from Newzoo, the global games market is set to reach $196.8 billion in 2022 which will reflect an increase of 2.1% compared to the previous year.
The firm sees the mobile segment as the main driver of this growth. The analysts believe that the mobile market will generate $103.5 billion which will account for 53% of the total games market revenue and represent a year-on-year increase of 5.1%.
The revenue of the PC market will grow slightly – by 1.6% reaching $40.4 billion – and make up 21% of the entire market. Meanwhile, console game revenue is expected to drop by 2.2% to $52.9 billion, however, still, it will account for 27% of the market.
Speaking of the revenue by region, the firm claims that North America’s games market revenue will increase by 0.5% compared to the previous year and reach $51.3 billion in 2022, and the European market is set to slightly decline (by 0.03%) to $34.1 billion.
Africa and the Middle East are expected to generate $7.1 billion in spending this year, while Latin America is projected to reach $8.7 billion.
The analysts believe that the games market will continue to grow in the following years and will reach $225.7 billion in 2025 which will represent a compound annual growth rate of 4.7%. You can learn more by reading the full report here.