Gaming Industry Expected to Hit $196 Billion by 2022

Gaming Industry Expected to Hit $196 Billion by 2022

The global gaming industry is booming, with revenues projected to reach $196 billion by 2022, according to Newzoo’s Global Games Market Report 2019. This impressive growth underscores the increasing popularity of video games across various platforms, from mobile to console and PC gaming.

Key Revenue Breakdown:

  • Mobile Gaming: $68 billion in 2019, projected to reach $95 billion by 2022, making up 50% of the global gaming revenue.
  • Console Gaming: $47 billion in 2019, expected to grow to $61 billion by 2022.
  • PC Gaming: $35 billion in 2019, anticipated to reach $39 billion by 2022.

Mobile Gaming Leading the Way

Mobile gaming continues to be the primary driver of growth in the industry, generating 45% of the total gaming revenue in 2019. With smartphones becoming increasingly accessible and games more sophisticated, this segment is poised to capture 50% of the total gaming market by 2022. Games like PUBG Mobile and Candy Crush Saga have played a significant role in expanding the mobile gaming market globally.

The gaming industry is growing rapidly not only in established markets like the US and China but also in emerging regions. China remains the largest market for gaming globally, but the US is projected to surpass it as the leading player in 2022.

India, in particular, has seen remarkable growth in the gaming sector. In 2019, India’s gaming industry grew to ₹6,200 crore from ₹4,380 crore in 2018. Additionally, the number of gamers in India rose from 269 million in 2018 to 300 million in 2019, placing India fifth in the world for the highest number of online gamers.

The Future of Console and PC Gaming

While mobile gaming continues to dominate, console and PC gaming remain substantial contributors to the industry’s overall revenue. Console gaming is expected to generate $61 billion in revenue by 2022, driven by high-profile game releases and the growing market for gaming consoles like the PlayStation 5 and Xbox Series X.

PC gaming, which historically held a significant share of the market, is projected to reach $39 billion by 2022. The rise of cloud gaming and digital distribution platforms like Steam and Epic Games Store will continue to influence this segment’s growth.