How Much Of A Dropoff Will We See In The Gaming Market This Year?

A recent Newzoo report shows that the global gaming market will generate $184.4 billion this year, representing a 4.3% decline from 2021. This also marks the first time in the company’s history of covering the market that it expects the global video game industry to shrink.

“We knew that this was going to happen because we had our earlier forecast from July, but then the data that we had coming in each quarter influenced it,” said Tom Wijman, the lead analyst for games at Newzoo, in an interview with VentureBeat. “There were still positive signs in Q1, but as we saw Q2 and Q3 come in, we saw what was happening. It was not a shock.”

PC gaming will experience a 0.5% increase from last year, topping out at $40.5 billion. Unfortunately, mobile and console gaming are expected to finish the year down 6.4% and 4.2% respectively.

Even though Newzoo is looking at 2022 as a “corrective year,” the video game industry is still well ahead of schedule in terms of growth. Between 2020 and 2022, revenues from the global gaming market were almost $43 billion higher than originally expected before the outbreak of the COVID-19 Pandemic.

(All information was provided by and VentureBeat)

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