UPDATE: Newzoo lowers its prediction to $184.4 billion
Newzoo’s latest report shows that mobile games will generate more than half of the total gaming revenue this year, surpassing PC, browser and console games.
According to the report, 3.2 billion gamers will contribute $196.8 billion to the global games business in 2022, with a 2.1% Y/Y growth, and mobile games will account for 53% of the overall gaming revenue, generating a total of $103.5 billion.
Last year, mobile gaming revenue surpassed $93.2 billion and accounted for 52% of the total gaming revenue which reached $180.2 billion.
There is also a 1.6% increase in PC games revenue which is expected to hit $38.1 billion and make up 19% of the overall revenue this year, however, console games and browser games revenue are projected to drop 2.2% and 16.9% to $52.9 billion and $2.3 billion respectively.
By the end of this year, 55% of all gamers will be from the Asia-Pacific region, 15% from Middle East & African countries and 13% from European countries. The biggest rise will be seen in Middle East & Africa and Latin America markets, thanks to the accelerating internet speed, the growing number of smartphone owners and the importance of mobile apps.
In addition, the total number of gamers will reach 3.5 billion and the overall mobile games revenue will hit $225.7 billion by 2025, Newzoo forecasts.
The research company recently revealed that there are now more than 500 companies investing in the metaverse, and more than 500 apps now include the ‘metaverse’ keyword in their app title and descriptions.