The gaming trade has marked one other yr of file income in 2021, in accordance to Newzoo, reaching $180.3 billion. That interprets to a development of 1.4% over the previous yr, which benefited from world lockdowns brought on by the COVID-19 pandemic.
In truth, Newzoo itself had anticipated earlier this yr that the gaming trade would really shrink (-1.1%), as that they had estimated $175.8 billion of revenues for the total yr. The analysts’ expectations have been clearly far exceeded, principally thanks to the cell sector’s unabated development (+7.3% year-over-year). The PC and console markets additionally did higher than anticipated, producing respectively 0.8 billion and 1.2 billion extra revenues than beforehand estimated.
Activision Blizzard CEO Wants to Make the Company One of the Best, Most Inclusive Places to Work Anywhere
Tom Wijman, Newzoo’s Head of Reports & Forecasting, defined:
We began the yr considering it might be unimaginable for the market to match 2020, as delays for AAA releases and ongoing provide shortages for brand spanking new gaming {hardware} gave individuals little alternative to spend. Yet, 9 months into 2021, we realized that the market would develop once more. If something, this reveals that the video games market is unquestionably not the seasonal, hit-driven enterprise it as soon as was. New gaming content material not means new video games or new {hardware}—a brand new season go is simply as possible to drive revenues.
The gaming trade’s cloud market additionally skilled vital development this yr, registering over twice the revenues of final yr, with Newzoo predicting even greater development forward within the subsequent three years.
Market Consultant Guilherme Fernandes said:
Total Player Numbers Have Reached 3 Billion This Year, With Market Growth to Go Past $218.7 Billion in 2024The cloud gaming market is well-positioned to meet the robust development that Newzoo predicts for subsequent yr and past. Many shoppers will seek for other ways to play new releases, as avid gamers battle to improve their {hardware} and new elements will likely be onerous to come till late 2022 a minimum of. Cloud gaming is an ideal answer for these gamers (editor’s be aware: simply as we instructed in our latest GeForce NOW RTX 3080 Tier check).
That’s not all, because the eSports and reside streaming sectors of the video games trade have additionally expanded all through 2021. eSports revenues grew 14.5% year-over-year, whereas the video games reside streaming viewers obtained greater by 12.7% in contrast to 2020, with Twitch producing 23.3 billion hours of reside viewership to this point in 2021, an all-time file for the platform.
The present forecast for 2024 paints a good prettier image. Newzoo anticipates the gaming trade to generate $218.8 billion of revenues in complete that yr, with $116.4 billion coming from the cell part alone. Cloud gaming may even develop to $6.5 billion and eSports to $1.6 billion, with engagement going up throughout the board.
