PC and Console Game Market to Generate Over 86 Billion Euros in 2023, Showing 9% Growth for PC Platform

The PC gaming industry experienced a 9 percent year-on-year growth in 2023, generating over 86 billion euros in global revenue. This growth was also seen in console gaming, which saw a 3.1 percent increase compared to the previous year. After a period of recovery following the pandemic, the video game market saw a reduction in income between 2021 and 2022, but began to stabilize in 2023, with total revenue reaching 183.9 million dollars.

A report by Newzoo, a market analysis platform, highlighted the growth of PC gaming revenue by nearly 9 percent compared to 2022, with companies like Valve, Epic Games, and miHoYo performing well in 2023. Games that followed cross-platform strategies, releasing titles on both console and PC, were beneficial for the PC market.

The report also revealed that PC and console games collectively generated 94 billion dollars in revenue globally in 2023, representing a 3.1 percent year-on-year growth. Mobile games accounted for nearly half of the global market revenue, with just under 90 billion dollars generated in 2023.

Newzoo’s data showed that 90 percent of income from new game launches in 2023 came from 43 exclusive titles. Despite the growth in the market, average playing time decreased by 26 percent since the first quarter of 2021. Chinese and American gamers contributed 50 percent of global spending on video games in 2023.

The forecast for the video game market is optimistic, with a projected 6 percent growth by 2025. Despite prevailing pessimism in the industry, Newzoo’s report paints a positive outlook for the future of gaming.