Newzoo lowered its Forecast for the Gaming Market in 2023

The initial forecast was almost $4B higher. Mobile is down, and console growth was not as big as originally thought.

Revenue

• The market volume forecast has been lowered from $187.7 billion (+2.6% YoY) to $183.9 billion (+0.5% YoY).

• As a result of the reevaluation, the mobile market in 2023 declined by 2.1% instead of the previously reported growth of 0.5%. The console segment grew by only 0.3% YoY instead of the previously reported 7.4%. However, the PC segment in the new version increased by 8.4% YoY instead of the initial 1.6%.

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• The reevaluation affected regional statistics. The Asia-Pacific region, as a result, declined by 0.2% instead of growing by 1.2%. North America grew by only 0.3% instead of 3.8%. The growth in the MENA region (Middle East and North Africa) of 6.9% turned into 4.6%. Europe grew by 1.3% YoY instead of 3.2%. Latin America increased by 2.2% instead of 3.8%.

• Newzoo lowered its revenue forecast for 2026. Previously expected $212.4 billion turned into $207 billion.

Users

• The company lowered its forecasts for the number of players worldwide in 2023 (from 3.38 billion to 3.3 billion). Moreover, the growth forecast has been reduced, with Newzoo now expecting 3.68 billion players in 2026 instead of 3.79 billion.

• The reevaluation significantly affected the Asia-Pacific region. Its YoY growth fell from the initial estimate of 5.7% YoY to 2.4% YoY.

Source