Mobile gaming will surpass $100 billion this year
The global game industry as a whole will exceed $200 billion in 2022, according to Newzoo's latest research.
The mobile gaming industry is on track to surpass $100 billion in revenue this year, according to the latest market research data from Newzoo.
Mobile already accounts for more than half of all spending on gaming worldwide, and Newzoo's latest report indicates that the segment continues to account for the largest chunk of the industry. The mobile segment including both smartphone and tablet gaming is on track to grow roughly 5% this year to $103.5 billion, Newzoo says.
Newzoo does note that mobile's market share of global revenue is expected to drop by one percentage point, from 52% to 51%, as the growth on mobile has slowed since the explosion in spending and engagement of the early pandemic, while console and PC gaming has begun to grow again.
"From the emergence of mobile to the dawn of cloud gaming, pundits and analysts have long been predicting 'the death of console.' As things stand, console is still very much alive and kicking — as we have always said," Newzoo writes. The console segment is expected to grow 8.4% in 2022 to $58.6 billion. PC gaming, meanwhile, will grow a more modest 1.9% to $41 billion.
Newzoo cites a number of factors contributing to console's growth. Among them include a number of high-profile releases like Elden Ring, Pokémon Legends Arceus and the upcoming God of War Ragnarok; the sustained relevance of live service games like Fortnite and Call of Duty: Warzone; and the growth of next-gen install bases and subscription platforms like Sony's new PlayStation Plus.
The report also notes that 2022 will be the first year the U.S. is slated to overtake China in gaming revenues, due primarily to the Chinese government's ongoing scrutiny and restrictions. The U.S. will account for $50.5 billion, while China will account for $50.2 billion. Together, the two markets account for close to half of all spending worldwide.
"The overtake makes sense, as the Chinese government has been cracking down on gaming in China, limiting new game releases and young people’s gaming time in the country. The market is beginning to show the impact of these regulatory pressures," Newzoo writes. "Nevertheless, Asia-Pacific remains the biggest region by revenues by a massive margin. And emerging regions are the only places to show double-digit growth. However, the more mature regions of Europe and North America are also showing strong growth, thanks to the performance of PC in the former market and console in the latter."