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About the author
Rosslyn Elliott
Rosslyn Elliott has over a decade of experience as a writer, editor, and in-house journalist. She earned a B.A. in English from Yale University and has written professionally in many fields including technology and IT. She has won kudos for her work helping tech startups establish their brands. Having lived all over the USA, Rosslyn has first-hand knowledge of the strengths and quirks of top internet service providers. She now writes on all things internet, including Wi-Fi technology, fiber infrastructure, satellite internet, and the digital divide. As a TV fan, she also enjoys reviewing channel choices and cool gadgets for satellite TV and streaming services. Her personal experience as a researcher, career changer, and remote worker inspires her to guide others to their own online opportunities. After work, she likes to kick back with a good craft beer and speculate about A.I. with friends.
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The global games market took a dramatic turn in 2023, as PC gaming grew far faster than console gaming. Newzoo’s latest Global Games Market Report 2023 shows that PC gaming shot up by a whopping 8.4% compared to 2022, while console gaming only managed a 3.1% bump.
2023 Gaming Industry Stats
- PC gaming surged by 8.4% in 2023
- Console gaming only saw a 3.1% increase
- PC and console gaming together raked in $94.0 billion
Global Games Market Raking in Billions
The report shows that the global games market brought in a staggering $183.9 billion in 2023, growing by 0.5% from the previous year. Mobile gaming made up nearly half of the global market’s revenue at $90 billion, despite a 2.1% drop from the previous year.
U.S. and China Are Gaming Powerhouses
The United States and China absolutely dominated the global gaming scene, making up 50% of all the money spent on games in 2023. The U.S. alone saw gamers spend over $46 billion on gaming.
- The U.S. and China made up 50% of global gaming spending in 2023
- U.S. gamers spent over $46 billion on gaming
U.S. and China generated 50% of global gaming spending
PC and Console Gaming: Not All Sunshine and Rainbows
But it’s not all good news for PC and console gaming. Even with the money rolling in, gamers are spending much less time playing. Average playtime each quarter dropped by a massive 26% since early 2021. Plus, just 43 games grabbed 90% of all the new gaming revenue in 2023, showing that many games may not be turning a profit over their development costs.
Mobile Gaming: Still Mammoth Despite Slight Decline
Mobile gaming may have seen a slight decline of 2.1% in 2023, but it’s still a juggernaut in the gaming world. With nearly half of the global gaming market’s revenue, mobile gaming is a force to be reckoned with.
But why the decline? Mobile game makers had to deal with some major hurdles, like new privacy rules that made it harder to target ads and get new players. Plus, with so many games out there, it’s getting tougher and tougher to stand out from the crowd.
Even with these challenges, mobile gaming is still growing in many ways. More people are playing games on their phones than ever before, and mobile game makers are getting smarter about how they make money from their games. They’re coming up with new ways to keep players hooked and spending, such as in-game events, battle passes, and more.
More people are turning to their phones for constant entertainment, so mobile gaming is poised to keep growing.
Mobile gaming is most popular
Game Makers and Publishers Are in for a Wild Ride
Given that only a few games are making most of the money, game makers and publishers are in for some tough times. If they want to survive, they’ve got to get creative with mobile games that keep players hooked and spending on in-app purchases. And smaller game makers may have trouble getting attention for new releases in this competitive market.
Global Games Market: Where Are We Headed?
Newzoo’s report shows that the global games market will hit $207.0 billion by 2026, growing by about 1.4% each year from 2021 to 2026. That’s actually better than the company predicted before, with the market set to grow by over 6% in 2025 alone.
- Global games market set to reach $207.0 billion by 2026
- Expected to grow by 1.4% each year from 2021 to 2026
- Market predicted to grow by over 6% just in 2025
What Does This Mean for Gamers?
As the gaming world keeps changing, gamers can expect a mix of experiences across different platforms. PC gaming’s growth might mean more complex, immersive games made just for PC, while mobile gaming’s success will probably mean more casual and free-to-play games. But with only a few big games making most of the money, we might not see as many different types of games, since game makers may focus on making solid sellers rather than taking risks or being creative.
Mobile gaming might lead to a glut of games designed for shorter play sessions and for making money through in-game purchases. Gamers who like more traditional, deep gaming experiences might have fewer options, especially from smaller, indie game makers who are struggling to keep up.
Looking Ahead: Games and Gamers in 2024
The gaming world is changing fast. While PC gaming is leading the charge, console gaming is still a big part of the market. But mobile gaming continues to outsell both other platforms.
To make it in this saturated market, gaming companies need to get creative and make games that keep players coming back for more across all platforms. They might have to try new tactics such as subscription services or games that work on multiple platforms. Innovative design and distribution may reach more players and increase the chances of making steady profits.
For gamers, the future is both exciting and unpredictable. While the global games market is set to grow, we might not see as many different types of games if only a few blockbusters keep dominating. In addition, advances in artificial intelligence (AI) may bring new levels of customization and variation to existing games.
Of all the influences on the gaming market through 2025, AI is sure to be one of the most powerful and transformative. We’ll be watching with fascination to see what’s coming.
And after this recent survey and its revelations, we’ll also be keeping a watch on whether console gaming recovers to equal the growth of PC gaming.
Both forms of gaming platform can provide immersive graphics and action with the same internet connection speed. Only time will tell if console gaming will lose market share permanently as gamers turn to PCs instead.
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About the author
Rosslyn Elliott
Rosslyn Elliott has over a decade of experience as a writer, editor, and in-house journalist. She earned a B.A. in English from Yale University and has written professionally in many fields including technology and IT. She has won kudos for her work helping tech startups establish their brands. Having lived all over the USA, Rosslyn has first-hand knowledge of the strengths and quirks of top internet service providers. She now writes on all things internet, including Wi-Fi technology, fiber infrastructure, satellite internet, and the digital divide. As a TV fan, she also enjoys reviewing channel choices and cool gadgets for satellite TV and streaming services. Her personal experience as a researcher, career changer, and remote worker inspires her to guide others to their own online opportunities. After work, she likes to kick back with a good craft beer and speculate about A.I. with friends.
Which speed do I need?
Tell us what you use Internet for
How many users?
Online Gaming
Smart Home Devices
Streaming Video
Browsing & Email
Target speed: 50 Mbps
With multiple users in the house, you need a little wiggle room in your bandwidth. 50 Mbps will support all your web browsing and social media.
Your current Internet speed:
Find 50 Mbps Internet speed near you
