Newzoo forecasts 2020 global games industry will reach $159 billion – TipsClear
Sports and exports Analytics firm Newsu released its highly cited annual report on the size and status of the video gaming industry yesterday. The firm is forecasting 2020 global sports industry revenue of $ 159.3 billion, year-on-year, with consumers up 9.3%. Newsu predicts that the market will exceed $ 200 billion by the end of 2023.
Crucially, the data exclude in-game advertising revenue (which grew + 59% during the COVID-19 lockdown, according to Unity) and the market for gaming digital assets traded among consumers. Advertising within games is a meaningful source of revenue for many mobile gaming companies. According to the e-marketer, the industry revenue of only $ 3 billion in US revenue last year alone.
To compare with gaming, the global markets for other media and entertainment formats are:
Of the 7.8 billion people on the planet, 4.2 billion (53.6%) who have Internet connectivity will play 2.69 billion video games this year, and Newsu predicted that number to reach three billion in 2023. This broke the current geographic distribution of gamers as:
- 1,447 million (54%) in Asia-Pacific
- 386 million (14%) in Europe
- 377 million (14%) in the Middle East and Africa
- 266 million (10%) in Latin America
- 210 million (8%) in North America