The games market is projected to hit $187.7B in 2023 | Newzoo

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Newzoo released its latest report predicting that the global games market will generate $187.7 billion this year. It also predicts the global player count will increase by 6% to 3.38 billion, and the global payer count (those who spend on games) will increase by 7.3% to 1.47 billion. In addition, the report shows that 49% of all consumer spending will come from the U.S. and China.

In addition to the size of the games market, the report also forecasts trends for the next few years. The research firm predicts that in 2026 revenues will hit $212.4 billion, and that player count will hit almost 3.8 billion.

Newzoo’s forecasts change with time, as it adjusted its prior 2022 figures from over $200 billion to around $184 billion. This smaller market size is expected to continues as it’s still not predicting the market will hit the high numbers it forecasted before. The $187.7 billion figure for this year is still lower than 2021’s revenue numbers, which were $192.7 billion.

Newzoo’s market report predicts a console sales boom thanks in part to a mitigation of the issues that caused a sales slowdown in 2022. Another driver is the release of several large console-only titles, including Tears of the Kingdom, Final Fantasy XVI, Super Mario Bros Wonder and Marvel’s Spider-Man 2. It also predicts that a successor to the Nintendo Switch will drive a large part of the market growth within the next three years.

Conversely, the mobile market, which has previously accounted for the majority of revenue,