Newzoo: Revenue across all video game market segments fell in 2022
The new report also says that China and the US made up 49% of consumer spending
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Newzoo's latest report says that the video game market shrank by 5% in 2022.
At a glance:
- Market total hit $183 billion in 2022, down 5%
- Mobile revenue declined 7% to $92 billion
- US and China consumer spending hit a total of $90.4 billion
The global video games market hit $183 billion in 2022, down 5% year-on-year.
The market intelligence firm went on to say that the mobile games amassed $92 billion in revenue. Although the division was down by 7% year-over-year, it accounted for 50% of the global games revenue.
The second highest segment was console games, which made $52.2 billion, down 3% compared to last year.
Meanwhile, downloaded/boxed PC games hit $36.5 billion, a decrease of 2.6% year-over-year. Browser PC games generated $2.3 billion, as it fell 15% compared to 2021.
Regarding spending by region, Asia – Pacific led the global market with $84.8 billion, down 9% year-over-year.
The second highest region in spending was North America, hitting $49.7 billion, down 2.5% year-over-year. The third was Europe, with $33 billion, down 2% compared to 2021.
Additionally, the US and China accounted for 49% alone of consumer spending on games.
Newzoo said, "Most regions saw revenues dip in 2022, with notable exceptions being Latin America and the Middle East and Africa."
"These two markets represented only 9% of the 2022 revenue total, but both experienced growth. Latin America's games market revenue grew by +3.3% year on year, while there was a +5.8% revenue bump in the Middle East and Africa."
Looking ahead, the market analysis firm said that the global video market will reach $206.4 billion in 2025.