Gaming market expected to reach $184 billion in 2022, but likely to end in decline

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Gaming market expected to reach $184 billion in 2022, but likely to end in decline

A report prepared by Newszoo points out that the gaming market is expected to decline in 2022 compared to last year. The drop should be 4.3%, reaching a revenue of US$ 184.4 billion this year, contrary to the US$ 196.8 billion forecasted earlier this year by the company.

Breaking it down a bit further, PC gaming market revenue is expected to reach $40.5 billion in 2022, which is a 0.5% increase from 2021.

The mobile market, on the other hand, should reduce 6.4% with US$ 92.2 billion, an impressive mark, but which is still lower than the 2021 results with a milestone of more than half a trillion reais. The previous report predicted a growth of 5% per year.

While we anticipated that the removal of the IDFA and pressure on people’s disposable income would lower mobile gaming spending, the first quarter of 2022 was still relatively strong. However, spending in the second quarter was significantly lower than last year, and signs are that it has not recovered in the third quarter. The second half of 2021 was a particularly strong period for the mobile games market; we do not anticipate that the market will be able to repeat these results, much less show growth

Global games market in 2022. Image: Newzoo

Speaking now of consoles, this share of the market should fall by 4.2%, almost double the 2.2% predicted previously. Total revenue is expected to be $51.8 billion.

Some of the justifications for these predictions include “a slower-than-expected year for consoles” and 2022 as a “corrective year” after the Covid-19 pandemic, which has boosted electronics acquisition around the world. So, even so, the predictions are higher than those of the pre-pandemic season.

Our long-term outlook for the gaming market remains positive. Our long-term outlook for the gaming market remains positive.

Finally, the only area of ​​games that should grow this year should be Virtual Reality with a 26.4% increase in revenue reaching US$ 1.8 billion.

Estimates from Newzoo indicate that the overall gaming market is expected to generate revenue of US$211.2 billion by 2025, which means an annual growth of 3.4%, mainly for console games.

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Abraham
Expert tech and gaming writer, blending computer science expertise