Looking forward, Newzoo says that the games market will generate $211 billion in 2025. The report from Newzoo forecasted that the games market would generate $184 billion in 2022. The estimate represents a 4% decrease year-over-year. The PC Games segment was also predicted for a decline, it’s poised to make $2 billion this year, down 16% year-over-year.
The report attributed the decline in mobile game spending to the recession’s effect on people’s disposable income. Meanwhile, cloud gaming is poised to amass $2.4 billion from more than 30 million paying users this year. The virtual reality games market was projected to hit $2 billion in 2022 and is expected to reach 3.2 billion by 2024.
Emily Souza is Client Success Director at Newzoo.