Global games market to reach $189B in 2025, led by console growth

The global games market is projected to reach $188.8 billion in 2025, representing a 3.4% year-on-year increase, according to Newzoo’s latest Global Games Market Report. While overall growth is slowing compared to the pandemic boom years, industry revenues are stabilizing, with consoles leading the next phase of expansion.

Mobile gaming will remain the largest segment, generating an estimated $103 billion, or 55% of global revenues. Growth in the sector is modest at 2.9% year-on-year, with saturation in Asian markets slowing momentum. However, spending continues to rise in Western regions. Discoverability challenges in app stores and web shops may also constrain performance.

Console gaming is forecast to see the fastest growth, climbing 5.5% to $45.9 billion. The launch of the Nintendo Switch 2, combined with higher software prices and a robust release slate, are key drivers. Upcoming high-profile releases such as Monster Hunter Wilds, Assassin’s Creed Shadows, and Kingdom Come: Deliverance 2 are also expected to support gains.

PC gaming revenues are predicted to increase 2.5% to $39.9 billion, fueled by adoption in Asia-Pacific markets and steady demand for premium releases, despite declining returns from older live-service titles in Western regions. Together, console and PC will represent 45% of the total market.

The Asia-Pacific region will continue to dominate with an expected $87.6 billion in revenue, accounting for nearly half of global spending. Growth, however, is slowing in this region compared to emerging markets. Latin America and the Middle East & Africa are forecast to grow more rapidly at 6.4% and 7.5% respectively, though from smaller bases.

China and the United States will remain the two largest markets, contributing almost equally with $49.8 billion and $49.6 billion in spending, together accounting for half of worldwide consumer expenditure.

The global player base is expected to climb to 3.6 billion in 2025, up 4.4% year-on-year. Mobile gaming will account for the vast majority, reaching three billion players. PC audiences are projected at 936 million, while console players will grow modestly to 645 million.

Despite this expansion, growth in the proportion of internet users who play games is flattening, signaling a maturing market. Engagement strategies—such as multi-device ecosystems, retention efforts, and long-term monetization—are becoming more critical than acquiring entirely new players. Newzoo also forecasts that 1.6 billion players will spend money on games in 2025, with an average annual spend of $119.7.

By 2028, the games market is expected to reach $206.5 billion, growing at a compound annual rate of 3%. The global player base could approach four billion, with PC surpassing one billion players and console audiences nearing 688 million. Future growth is expected to be driven less by player volume and more by engagement, timing of releases, and ecosystem strategies that emphasize lifetime value.