Game market researcher Newzoo reported that the global game market will hit $116 billion in revenues on, up from 10.7 percent from a year earlier. The latest numbers are up $7.1 billion from Newzoo’s previous estimate.
Mobile gaming revenues for 2017 were revised upward the most, from $46.1 billion to $50.4 billion. From a regional perspective, the adjustment was mainly driven by new 2017 revenue figures for China and Japan. Esports is also coming on strong, with total esports revenues potentially hitting $2.5 billion by 2020, or about $1 billion more than Newzoo previously estimated.
With the growing popularity of esports games will see further growth, surpassing the $130 billion to $150 billion sports industry within three or four years from now. By 2020, games will hit $143.5 billion in revenues on a global basis.
Newzoo’s latest quarterly update of its Global Games Market Report featured the biggest adjustment in market size estimates since its first publication five years ago.
During the first three quarters of the year, game revenues came in higher than expected. Newzoo previously thought that revenues would be $108.9 billion this year.
The market for PC gaming showed surprising strenght as well, as Newzoo revised the estimate upward from $29.4 billion to $32.3 billion.
Console gaming will end the year slightly lower than anticipated at $33.3 billion, but still showing a healthy year-on-year growth of 3.7 percent. The Chinese games market is expected to end the year at $32.5…