Report: global games market to reach almost $300 billion by 2027

The global video game market will reach almost $300 billion by 2027, according to the latest report by ResearchAndMarkets.com. Mobile titles will account for over half of this number.

• As pointed out by ResearchAndMarkets.com, the games market is projected to hit $293.2 billion in 2021, with a compound annual growth rate (CAGR) being 9.3%.
• Mobile games are estimated to reach $153.5 billion at an 11.5% CAGR.
• The console market will be growing at a 9.2% CAGR for the next seven years, and PC games will have a 5.1% CAGR.
• China is projected to reach a market size of $82.4 billion by 2027, showing a CAGR of 10.3% during the next seven years.
• In comparison, the global games market generated total revenues of $180.3 billion in 2021 (via Newzoo), which is up 1.4% year-over-year.
• The mobile segment surpassed $90 billion last year, showing a 4.4% growth year-over-year.
• Although mobile continues to be the largest industry segment by revenues, other segments are also growing. For example, the cloud gaming market is projected to reach $6.3 billion by 2024.