For the first time in history, Newzoo has revised down its forecast in regards to the game situation that it will fall by 4.3% in 2022.
Newzoo said the market fell to $184.4 billion as 2022 was a challenging year for the gaming industry, amid the overall economic downturn.
The PC gaming market generates $40.5 billion in 2022, up 0.5% year-over-year. This figure is slightly higher than Newzoo’s previous forecast of $40.4 billion. The mobile game market will gross $92.2 billion in 2022, down 6.4% year-on-year. The outlook for the mobile game market has changed significantly from Newzoo’s previous forecast, which was previously forecast to grow 5.1% year-on-year. The console game market generated $51.8 billion in 2022, down 4.2% year-on-year. This figure is lower than the July forecast of 52.9 billion USD (down 2.2% compared to the same period last year).
Tom Wijman, head of game analysis at Newzoo, said: “The gaming market still showed positive signs in Q1, but Q2 and Q3 saw a marked decline.
Total revenue generated between 2020 and 2022 is nearly $43 billion more than it originally forecast before the pandemic, Newzoo said. Overall, the games market grew from USD 179.1 billion in 2020 (up 29%) to USD 211.2 billion in 2025, growing at a compound annual growth rate (CAGR) of 3.4%. . In 2021, revenue from games is $192.7 billion, up 7.6%.
Wijman said the severity of the economic downturn in the world could affect revenue from the game. He noted that mobile games could be more affected by that, as players reduce game loading. This is affected by the economy when the income level is lower and gamers are no longer interested in “raising” the game.
This study was done by tracking actual results from the top 150 gaming companies in the world and then evaluating how accurate the forecasts were. The forecast shows that browser games are on the decline, although 2020 sees a bit of growth. This segment will drop another 16.7% year-on-year to $2.3 billion as more people move to mobile.
