Newzoo1 – a renowned global provider of games and e-sports analytics – estimates the volume of the global videogame market at 184.0 billion USD at the end of 2023, which corresponds to a 0.6% increase compared to the 2022 year-end value. In the past year growth was reported in the PC gaming segment – by 5.3% y/y, reaching 38.4 billion USD at the end of 2023, as well as in the console segment, which grew by 1.7% y/y, to 53.1 billion USD. In contrast, the mobile segment shrank by 1.4% y/y, shrinking to 90.5 billion USD.
Global videogame market in 2023 by device type (%)
Source: Newzoo
Estimates published by ESA (Entertainment Software Association)2 concerning the US market, which is the most important region from the point of view of the Group’s activities, confirm domination of smartphones in this area (with 64% of respondents listing smartphones among their most frequently used gaming devices), followed by gaming consoles (54%) and PCs (45%).
Long-term projections remain bullish. Newzoo estimate that by 2026 the volume of the global videogame market will reach 205.4 billion USD3, which implies a cumulative annual growth rate (CAGR) of 3.7% for the 2023-2026 period. According to PWC’s “Global Entertainment & Media Outlook 2023–2027”4 report, the videogame and e-sports market is expected to grow by 7.9% annually during this period.
1 Newzoo’s Games Market Estimates and Forecasts, Newzoo, 8 February 2024, accessed on 10 February 2024, https://newzoo.com/resources/blog/games-market-estimates-and-forecasts-2023
2 2023 Essential Facts About the Video Game Industry, accessed on 10 February 2024, https://www.theesa.com/2023-essential-facts/
3 Newzoo’s Games Market Estimates and Forecasts, Newzoo, 8 February 2024, accessed on 10 February 2024, https://newzoo.com/resources/blog/games-market-estimates-and-forecasts-2023
4 Perspectives from the Global Entertainment & Media Outlook 2023–2027, PwC, 21 June 2023, accessed on 10 February 2023 r, summary available at https://www.pwc.com/gx/en/industries/tmt/media/outlook/insights-and-perspectives.html