Newzoo has increased its forecast as the pandemic continues to drive up consumer spending on video games. COVID-19’s impact on gaming has been well documented at this point. Many people have turned to video games as a primary form of entertainment, resulting in an impressive spike in revenue for the sector. Consequently, many experts have been forced to reexamine their projections and most have been forced to adjust their predictions for 2020 and beyond.
According to Newzoo’s new report, so far, the mobile sector has benefited the most thanks to smartphone and tablet device saturation; more than 40% of the world owns such a device, and most of the platform’s top-performing games are free to play. As a result, Newzoo predicts that mobile games will generate $77.2 billion this year, which is growth of more than 13% over 2019.
The report also predicts significant growth within the console and PC markets, even if it’s not as substantial as the mobile market. The sector will hit $45.2 billion, denoting a 6.8% year-over-year increase.