Global Gaming Revenue by Region: A 2023 Overview
The gaming industry continues to be a dominant force in the entertainment sector, with its revenue streams painting a vivid picture of its global influence. As we dive into 2023, let’s explore the growth trajectories and key trends shaping the gaming landscape across different regions.
1. The Global Picture: The world’s gaming market is on an upward trajectory, with a projected 2.6% YoY growth, pushing the total revenue to an impressive $187.7 billion.
2. Western Dominance:
- Console Gaming’s Rise: The West’s increasing penchant for console gaming is fueling its market growth.
- North America and Europe: These two powerhouses are leading the charge, with North America’s revenues set to grow by 3.8% to $51.6 billion and Europe following closely with a 3.2% growth, reaching $34.4 billion. Together, they’re poised to contribute a whopping 46% to the global gaming revenue.
3. Emerging Markets Show Promise:
- Middle East & Africa and Latin America: These regions are living up to their “growth” monikers, with projected growth rates of 6.9% and 4.3% respectively. Factors such as improved mobile internet infrastructure, affordable gaming options, and a surge in smartphone users are driving this growth.
4. Asia-Pacific: A Giant with Slowed Momentum:
- Holding the Lion’s Share: Despite its slower 1.2% YoY growth, Asia-Pacific remains the gaming behemoth, accounting for 46% of global revenues.
- China’s Influence: The region’s modest growth can be attributed to China’s lukewarm 0.7% YoY growth. The country’s gaming future seems uncertain due to lockdown impacts, restrictions on minors, and licensing challenges. Moreover, the end of the NetEase and Activision-Blizzard collaboration is set to dent China’s PC game revenues.