The massive business of video games is only expected to get bigger, and it has highly anticipated titles and an uptick in younger ranks of gamers to thank, according to a newThe global games market is expected to generate nearly $188 billion in revenue in 2023 — up 2.6% from last year, according to a report from Amsterdam-based industry tracker Newzoo.
“Overarchingly, 2023 will be an exciting year for the global games market,” Tom Wijman, lead games analyst at Newzoo, wrote in the study. But mobile will remain gaming’s most significant segment by consumer spending, accounting for just under half of the entire global market, Newzoo projected.The number of players worldwide will reach 3.38 billion in 2023, growing 6.3% over last year. Mobile is expected to contribute to most of this growth.Payers — those who have spent money to play games on a PC, console, mobile device or cloud gaming service in the past six months — will grow by 7.3% globally to 1.47 billion in 2023.