Global Gaming Market Projected to Experience 2.6% Growth in 2023

In summary, the global gaming market is projected to reach $187.7 billion in 2023, representing a 2.6% year-over-year increase. Mobile gaming revenue is expected to rise by 0.8% to $92.6 billion. Console gaming, however, is forecast to drive growth, with a 7.4% increase to $56.1 billion, driven by the release of highly anticipated titles such as Hogwarts Legacy, Zelda: Tears of the Kingdom, and Final Fantasy 16 in the first half of the year, followed by Spider-Man 2, Starfield, and Super Mario Bros Wonder in the second half. The Asia Pacific region is expected to lead the global market with $85.5 billion, up 1.2% year-over-year. Newzoo also predicts that console gaming will boost consumer spending in Western markets, with North America reaching $51.6 billion, up 3.8% year-over-year, and Europe growing 3.2% to $34.4 billion. The top public companies by gaming revenue are expected to be Tencent, Sony, and Apple, with Microsoft and Activision Blizzard ranking fourth and seventh, respectively. Looking ahead, the global gaming market is likely to reach $212.4 billion by 2026, driven by the continued sales of current-generation consoles and the upcoming successor to the Nintendo Switch.