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.
Above: Mobile has reached $50.4 billion, making it the biggest part of the game industry.
Image Credit: Newzoo
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…
