- A report has revealed that the global games market generated nearly $184 billion last year.
- Asia-Pacific region has generated the most, but it has seen a decline of 0.2% YoY.
- Apart from Asia-Pacific, nearly every region has seen growth in its gaming revenue.
There are many platforms available for gaming, and the most known ones are arguably PCs and mobile phones. However, the market also ranks PlayStation, Xbox, and Nintendo quite high. These platforms generate an insane amount of revenue.
PC gaming contributed the most to gaming’s growth last year thanks to platforms like Steam. That said, a report has revealed that the global games market generated nearly $184 billion in 2023.
Why it matters: Gaming is more popular than ever worldwide and has become a global phenomenon, and these figures highlight just how big the industry has become.
Among these, the Asia-Pacific region has contributed the most to the industry’s revenue. Newzoo recently released a report revealing important information about the games market. It states that the gaming industry made nearly $184 billion in 2023.
The report highlights that the market will continue to grow thanks to the following:
“improved mobile internet infrastructure, affordable access to the internet, the availability of affordable gaming, and the growing number of smartphone users.”
As mentioned before, Asia-Pacific is the biggest games region in 2023, as it has helped the industry generate $84.6 Billion. This is massive, but the report shows that it has seen a 0.2% decline year over year.
Elsewhere, no other region saw a decline. The rest of the world has seen a generous incline.
The second biggest region for games is North America, as it has generated nearly $50 billion and has seen an increase of 0.3% on a year-on-year basis. The third biggest region is Europe, with $33.7 billion and a 1.3% increase on a year-on-year basis.
Other important regions include Latin America, the Middle East, and Africa. These regions are also rapidly growing, showing an increased interest from general gaming audiences.
Gaming seems to be on the rise globally, with more interest from audiences than ever before.
As publishers focus more on PC and mobile gaming, these figures will only go up in the coming years. Newzoo estimates revenue will double by 2026, bringing this figure up to over $200 billion.
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[News Reporter]
Obaid is pursuing a Law degree, while working as a content writer. He has worked as a gaming writer for over a year because of his passion for the medium and reporting the latest updates in the industry. Having played hundreds of games, Obaid finds himself coming back to Elden Ring and Red Dead Redemption 2, with these games being among his favorites. He has also been mentioned on highly regarded websites, such as Wccftech, Metro UK, PS Lifestyle, GamePressure, VGC, and Gamespot.
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