Game market research group Newzoo announced its latest report After two years of “exceptional” growth during the COVID-19 pandemic, we forecast a 4.3% year-on-year decline in the global gaming market in 2022.
in the report (thank you game industry biz), the company estimates that the overall video game market will generate $184.4 billion in 2022, below the $196.8 billion forecast Newzoo made earlier in the year.
This figure includes all areas of gaming (PC, browser, mobile and console), with the console games sector in particular seeing a 4.2% decline. A “slow year” in the release schedule is cited as one factor for him, along with explosive growth due to the current economic situation and the impact of his 2020/21 pandemic.
Despite lower-than-expected global revenues still hovering higher than in pre-pandemic times, Newzoo plans to mark 2022 as an unprecedented lockdown, with people turning to gaming more than ever before. We have labeled it a “Year of Correction” following growth. “The long-term outlook for the games market remains bright,” the report said, predicting 2022 to be the only adjustment year before growth picks up in 2023 and numbers rise again.
Let’s not forget that $184.4 billion is by no means a bad deal despite this small recession, but the company ended things on an optimistic note, calling the future “bright” and forecasting 2020’s It is forecast to grow from $179.1 billion to a whopping $211.2 billion by 2025.
That’s right, your video game is running fine and will likely survive this fix blip of your spreadsheet. The uptick in numbers will almost certainly resume next year. continue!
