Quick Take
- Global games revenue in 2024 hit $182.7B, up 3.2% YoY per Newzoo’s final figures
- Mobile games led growth, hitting $100.3B globally, with strong gains in the US, Europe, and China
- Console revenue declined 2.5%, while PC grew 4.4%, bolstered by China’s expanding Steam user base
The global gaming market generated $182.7 billion in revenue in 2024, according to the final update of Newzoo’s annual forecast. The figure represents a 3.2% increase from the previous year, improving on early-year revisions but still falling short of initial projections made in 2023.
Newzoo had originally forecast $184.3 billion for 2024, later adjusting that estimate down to $177.9 billion in March. The final result, while more optimistic than the first revision, reflects a more measured recovery following 2023’s flat performance.
Mobile games were the largest contributor to global growth, with the segment rising 5.5% year-over-year to reach $100.3 billion. The rebound was driven largely by the United States and European markets, as well as China, where mobile spending rose 3.1%. Titles such as MONOPOLY GO!, Roblox, and Whiteout Survival were among the leading contributors.
PC gaming recorded a 4.4% increase, reaching $39 billion in revenue. Newzoo attributed much of the growth to an expanding Steam ecosystem in China, which has seen increasing adoption since Blizzard returned to the region through NetEase earlier in the year. Western markets also contributed modest gains.
Console gaming saw a decline of 2.5%, with total 2024 revenue at $43.5 billion. A slowing late-cycle Nintendo Switch and uneven platform momentum in markets like Japan and France contributed to the segment’s drop. Subscription models helped stabilize spending, particularly for PlayStation and Xbox.
VR game spending declined 3.6% to just over $1 billion, despite the global active VR user base climbing to 28.6 million. Time spent across all gaming platforms grew by 6% year-over-year, led by high engagement from titles like Call of Duty, Fortnite, and various premium live service games.
China’s overall games market saw a 5.6% rise, boosted by local PC game hits, a return of Blizzard content, console market discounts, and modest growth in mobile.
Looking forward, Newzoo expects the global market to reach $188.9 billion in 2025 and surpass $200 billion by 2027. That trajectory assumes a compound annual growth rate of 3.3%, driven by factors such as rising game prices, broader platform install bases, and new hardware cycles.
The PC segment is forecast to hit $42.5 billion by 2027, growing at 3% annually, supported by increasing activity in Japan and Southeast Asia. Console revenue is expected to grow 5.6% annually through 2027, helped by the upcoming Nintendo Switch successor and the release of Grand Theft Auto VI, scheduled for May 2026. Meanwhile, mobile gaming is projected to expand at a slower 2.4% annual pace through 2027, shaped by direct-to-consumer shifts and changes in mobile distribution regulation in the US and EU.
Newzoo’s 2025 Global Games Market Report is set to be published publicly in September, with updated segment breakdowns and regional analysis extending through 2028.
