Analytics: in 2024, the revenue of the gaming market will grow, but for companies the year will be "lean"
The analytical company Newzoo has published a forecast for the global gaming market for 2024. She expects the market to earn $189.3 billion next year, 2.8% more than in 2023.
In the coming years, the market's revenue will only increase, Newzoo believes. According to her calculations, the average annual growth in the period from 2021 to 2026 should be 1.3%.
In particular, Newzoo predicts that the console and PC game segments will show good growth in 2024. One of the most profitable and at the same time highly competitive models will still be game services, but the "gold rush" around them will begin to come to an end. In this regard, according to analysts, many developers will return to the development of traditional premium titles.
Newzoo also expects that the mobile gaming segment will begin to recover after a two-year decline. Nevertheless, mobile developers will continue to have difficulty attracting and retaining users. To cope with them, studios will become more active in releasing games on consoles and PCs.
At the same time, Newzoo believes that 2024 will be a "lean year" for the gaming companies themselves. Against the background of the recession in the industry, it will become more difficult for them to attract investments, and many will decide to save seriously. Companies will also take fewer risks: developers will prefer to develop existing franchises rather than invest in new IP. At the same time, they will be actively interested in generative AI.
