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Newzoo provides forecasted numbers and growth through 2022

This week, Newzoo published its final report for 2022, which included projections for the year’s end in the video game business. Overall, it looks like business is slowing down a bit this year, though Newzoo attributes that to a necessary market correction. It also makes some predictions for2023, however they are subject to alter just as those for 2022 were.

Newzoo’s earlier market forecasts for 2022 are reaffirmed in the research. The report estimates the market will be worth $184.4 billion in 2022, down 4.3% from 2021. It also projects that mobile gaming will bring in $92.2 billion, down 6.4% from 2016. Both of those figures have been previously reported. Only the PC gaming market, whether for digital or traditional games, is expected to expand.

We anticipate 2022 as a correction year after two years of lockdown-fueled expansion for the market,” said Tom Wijman, Newzoo’s senior games analyst, in a statement. Revenues in 2020 and 2021 were significantly higher than expected, while 2022 was marginally lower, compared to our pre-pandemic prediction for the games market (from January 2020). Although this new projection may seem like bad news for the gaming industry, the total income earned from 2020 to 2022 is expected to be about $43 billion greater than our previous projections made before the epidemic.

In addition, the report features a list of the top 10 games in terms of monthly active users across all platforms. Call of Duty: Modern Warfare 2 is the sole game scheduled for release in 2022. Other games included Roblox, Minecraft, and Fortnite, all of which are likely to remain popular for a long time.

At the end of the research, Newzoo offered some projections for the industry’s development. It estimates that the mobile market will be worth $103.1 billion in 2025, while the gaming sector will produce $211.2 billion. It also restates its earlier projection that the virtual reality industry would quadruple by 2024 and projects that cloud gaming will rise to $8.2 billion by that year.