Newzoo, the global leader in market intelligence for games, has recently released its Newzoo Global Games Market Report for 2023.
The report predicts that the global gaming market will be worth $1.1 trillion by the end of 2023 – a 24% increase from 2020.
The report shows that China is currently leading the way in terms of growth, with more than a third of the total global gaming revenue coming from there.
It also found that mobile games are expected to remain the largest segment of the overall industry and account for almost half of all game revenues by 2023.
Additionally, Newzoo’s data reveals that cloud gaming is set to become increasingly important in driving growth over the next few years, with services like Google Stadia and Microsoft xCloud becoming more prominent.
It provides valuable insights into where opportunities lie, what trends to look out for, and which markets are leading in terms of revenue.
As the global gaming industry continues to grow, Newzoo’s data will be an invaluable resource for any business looking to capitalize on this rapidly growing sector.
These findings show that gaming remains one of the most lucrative industries in the world, with Newzoo predicting it will be worth $1.1 trillion by 2023 – a testament to its incredible success over recent years.
With new technologies driving innovation and the mobile gaming sector continuing to lead the way, it looks likely that this figure will only increase over time.
It’s an exciting time for both developers and gamers alike!