Newzoo: Global Games Market Will Reach $184 Billion in 2022

Newzoo summarized this year’s most significant developments in the gaming industry and concluded that the global games market will accumulate $184.4 billion in revenues by the end of 2022, a decline of -4.3% since last year. 

The analysts see 2022 as a corrective year "following two years of lockdown-fueled growth for the market", which is reflected in the data.

The mobile games market will generate $92.2 billion, down -6.4% year on year, according to the forecast. At the same time, console gaming will see a -4.2% decline in spending due to fewer releases and reach $51.8 billion, while PC gaming will see 0.5% year-on-year growth.

Over 30 million paying users are expected to spend $2.4 billion on cloud gaming services this year, whereas the VR market will grow from $1.8 billion this year to $3.2 billion by 2024. 

Newzoo also provided a list of top PC, PlayStation, and Xbox games by average monthly active users. It is led by Fortnite followed by Minecraft and GTA 5. The only game in the list that was released this year is Call of Duty: Modern Warfare II.

By 2025, analysts expect the gaming industry to achieve new heights:

• The global games market will generate revenues of $211.2 billion. 
• Mobile games alone will generate $103.1 billion via consumer spending. • Cloud gaming will generate $8.2 billion. 
• VR gaming will generate $3.2 billion by 2024. 

If you're interested in what's to come, stay tuned as Newzoo will start publishing its 2023 Trends to Watch in the coming weeks and months. Also, don't forget to join our Reddit page and our Telegram channel, follow us on Instagram and Twitter, where we share breakdowns, the latest news, awesome artworks, and more.