The video games market will generate $200 billion by 2023

The video games market will generate $200 billion by 2023

The video games market is expected to grow to more than $200 billion before 2023, according to a new report from Juniper Research.

This year, the games industry is projected to bring in $155 billion. Mobile and cloud gaming are believed to be the driving force behind the market's growth. Moreover, Fortnite and Call of Duty: Mobile have been cited as influences to the increased trend in in-game purchases.

Furthermore, with a growth rate of nine per cent year-on-year, cloud gaming and subscriptions will bring in around $8 billion in 2023. It is believed that due to subscription services such as Stadia and Xbox Game Pass, there will be fewer purchases of standalone games, meaning that mobile will be the only platform to experience any games installation growth.

However, it is worth noting that an overwhelming majority of those downloads will be free-to-play titles.

Subscription future

"At current gaming subscription prices, it will take an average of ten months of a subscription payment to cover the retail cost of a single triple-A game. The value of these platforms lies in keeping players within an ecosystem; ensuring that revenue across multiple games is captured by a single platform," said research co-author James Moar.

Staff Writer

A freelance writer based in Berkshire. Besides PG and PCGI she has written as a guides writer, specialising in RPG's and horror.


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