The gaming industry generated $182.9 billion in 2022, representing a 5.1% decline from 2021. Mobile gaming generated $91.8 billion, representing 50.2% of the overall total. Despite this success, the sector saw a 6.7% decline, according to a Newzooreport. However, this only accounts for purchases, as it excludes advertising revenue..
Console gaming came in second place with $52.2 billion - 29% of the total. However, the sector saw a smaller decline at 3.4%.
The gaming market declined worldwide, with two notable exceptions - Latin America, which saw a 3.3% increase to $8.4 billion, and MENA, which increased 5.8% to $6.8 billion. The relative accessibility of mobile devices compared to other gaming platforms and increases in market penetration and internet coverage has led to rapid growth for the mobile gaming industry in both markets.
The Asia Pacific region saw the largest decline in consumer revenue, at 8.9%. This was largely due to the turbulent year in the Chinese gaming industry. The imposition of new restrictions on playtime among young gamers, as well as a lengthy hiatus in game licensing, led to sharp declines throughout the country’s mobile gaming scene, which console manufacturer Sony has attempted to take advantage of by attempting to attract the country’s game developers to the PlayStation platform.
Despite these declines, China remains the second largest gaming market worldwide, at $44 billion. Only the US generated more gaming revenue, at $46.4 billion, and together the two countries generated 49% of all worldwide gaming revenue.
Looking forward, Newzoo predicts that the global gaming market will reach $206.4 billion by 2025, representing a compound annual growth rate of 2.9%. This suggests that, while the market declined in 2022 compared to the previous year, the market’s resilience will see it rebound and continue to grow.