Gaming fans are blessed to have a wide selection of new titles arriving in the latter half of 2023. With Spider-Man 2 and Starfield arriving exclusively on PlayStation and Xbox respectively, fans are looking at a clash brewing between the two fandoms. However, this brawl between the fans is ultimately favorable for the gaming industry.
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Fans have already seen the vast success of 2023 titles like The Legend of Zelda: Tears of the Kingdom and Hogwarts Legacy. With multiple games breaking sales records, the industry is expected to grow at an exponential rate. And according to recent reports, touching the $200 billion mark is well within the reach of the global gaming market.
The gaming business could soon reach $200 billion, owing to titles like Starfield and Spider-Man 2.
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In the latest report from market analysis company Newzoo, they estimated the global games market to generate $187.7 billion this year. The industry is growing at an unprecedented rate of 2.6% year-on-year comparison. Furthermore, they have predicted that by the end of 2025, the industry would have crossed the $200 billion mark.
However, with the amount of interest shown by fans in upcoming titles like Starfield and Spider-Man 2, the $200 billion mark can be hit sooner. Furthermore, their reports also pointed out that the US and China account for 49% of total users’ spending on games. And North America alone is generating over one-fourth of the total revenue.
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The report also claims the console segment to be this year’s “biggest revenue growth vehicle”. The release of successful titles like Hogwarts Legacy and The Legend of Zelda: Tears of the Kingdom can be a reason for their claims. And the imminent release of console-exclusive titles like Starfield and Spider-Man 2 will only further their cause.
However, the report has also pointed out the rapid growth of mobile gaming, due to the pandemic. The mobile gaming industry alone generated 50% of the revenue in 2022. Looking at this, major publishers like Ubisoft have also brought their Assassin’s Creed series to mobile.
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With the $200 billion mark looking closer than ever, gaming studios will also be gearing up to deliver their best possible work to the fans. What are your thoughts on the growth shown by the gaming industry even after the pandemic? Let us know in the comments section below.
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