According to Gadgetendency, this number increased by 1.4% in the past year, mainly due to isolation measures related to the Covid-19 pandemic. Previously, Newzoo experts predicted the market would shrink 1.1% to $175.8 billion, but the actual data beat analysts’ expectations, mainly due to the growth. non-stop of the mobile sector (up 7.3% y/y).
Gaming revenue grew more than expected
The record shows that the PC and console gaming markets also performed better than expected, bringing in $0.8 billion and $1.2 billion, respectively, compared to previous estimates.
The cloud business has also shown significant growth this year, with revenue more than doubling from last year. Newzoo predicts further growth over the next three years. The total number of players this year has reached 3 billion.
180.3 billion USD is the revenue achieved from the gaming industry this year
The gaming market is expected to surpass $218.7 billion by 2024. Of this, $116.4 billion will come from the mobile segment. In addition, cloud gaming will increase to $6.5 billion in revenue and e-sports to $1.6 billion.