Newzoo Predicts $200 Billion Gaming Market By 2023, 77% Of It From In-Game Purchases

Jason Winter
By Jason Winter, News Editor June 25, 2020
Share:

Games industry analytics firm Newzoo has released its 2020 Global Games Market Report, which can be yours for a cool seven and a half G's, or $625 per month. If that's a bit out of your price range -- I've had apartments that didn't charge that much in rent -- then you can check out the synopsis posted on their site for the high-level details.

The headline predicts that 3.07 billion people will call themselves "gamers" by 2023, up from an estimated 2.69 billion in 2020. That will be fueled by higher growth in developing areas with greater access to the internet and wealth (and mobile devices). The key issue, the article points out, will be in converting "players" to "payers," made difficult by the low conversion rates often found in free-to-play games, especially mobile titles.

Newzoo estimates that 74% of the $159.3 billion in gaming revenue for 2020 will come from in-game purchases -- which are largely present in free-to-play games -- on all platforms. Those numbers are expected to grow to $200.8 billion and 77% by 2023. It's not all about mobile, though, as only 40% of gaming revenue in 2020 will come from mobile games. Consoles have the second-highest market share, at 28%, with PC gaming at 21%.

Share:
Got a news tip? Contact us directly here!

About the Author

Jason Winter
Jason Winter, News Editor
Jason Winter is a veteran gaming journalist, he brings a wide range of experience to MMOBomb, including two years with Beckett Media where he served as the editor of the leading gaming magazine Massive Online Gamer. He has also written professionally for several gaming websites.

Discussion (0)


You May Enjoy

CrossfireX Adds New Search & Destroy Map, Weapon Mastery System, And Gameplay Improvements

CrossfireX Adds New Search & Destroy Map, Weapon Mastery System, And Gameplay Improvements

The latest content update shows a lot of promise.

By Anthony Jones - 2 days ago
Blizzard Delays Diablo Immortal Launch In China Following Reportedly Being Blocked On Social Media Platform Weibo

Blizzard Delays Diablo Immortal Launch In China Following Reportedly Being Blocked On Social Media Platform Weibo

And a streamer goes out of his way to prove just how ridiculously expensive the game is.

By QuintLyn Bowers - 6 days ago
Genshin Impact Reveals "Kuki Shinobu: Jack Of All Trades" Character Demo, Banner Set To Launch In Update 2.7

Genshin Impact Reveals "Kuki Shinobu: Jack Of All Trades" Character Demo, Banner Set To Launch In Update 2.7

This is the game's next four-star Electro character.

By Anthony Jones - 1 week ago
Mask Up And Survive To Earn Invitations To Dead By Daylight's Demented Sixth Anniversary Twisted Masquerade Event

Mask Up And Survive To Earn Invitations To Dead By Daylight's Demented Sixth Anniversary Twisted Masquerade Event

Nothing screams creepy like a sketchy party theme.

By QuintLyn Bowers - 1 week ago
Browser-Based Flyff Universe Is Now Available To Players, Complete With Upgrades

Browser-Based Flyff Universe Is Now Available To Players, Complete With Upgrades

Take the world of Madrigal with you anywhere.

By QuintLyn Bowers - 1 week ago
Always Online Podcast: Peeking At Starkeepers, Exoprimal, ReVerse, Texas Chainsaw, & Is XBox Game Pass A Good Thing? Ep 436

Always Online Podcast: Peeking At Starkeepers, Exoprimal, ReVerse, Texas Chainsaw, & Is XBox Game Pass A Good Thing? Ep 436

The game reveals just keep coming so let's look at things we want to try out soon!

By Michael Byrne - 1 week ago
See More
Live Giveaways