World video games market to generate $175 billion in 2021- Newzoo


Analysis agency notes a decline of 1% year-over-year in income

As we speak, Newzoo launched its 2021 estimate for the worldwide video games market, saying the trade is posed to generate $175.8 billion this yr.

The analysis agency shares that this might be a decline of 1.1% year-over-year in income.

Newzoo attributes this small anticipated decline to the consequences of the COVID-19, which has triggered plenty of releases to be pushed to 2022.

It additional explains that the forecast decline can also be as a result of scarcity of {hardware} and shopper electronics brought on by the pandemic.

Newzoo additionally estimates that the cell video games market will generate $90.7 billion in 2021, seeing development of 4.4% year-over-year. Cell recreation income will account for 52% of the worldwide video games market income in 2021.

It concludes that the video games world market is on observe to exceed $204 billion in 2023.

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