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PC and console markets grow 2.6% in 2023, but gaming time drops | NewZoo

The second annual market report released by market research organization Newzoo shows that the PC and game console market grew by 2.6% in 2023, but gaming time declined this year.

Player numbers are also expected to decline over time, according to a comprehensive report from Amsterdam-based Newzoo.

“The gaming market has recovered after a modest decline in 2022, but truly significant growth is still not immediately available,” Newzoo principal analyst Tom Wijman said in a statement. “We remain cautiously optimistic as our data and analysis confirm Trends and winning strategies for finding new players, competing for game time, and connecting games to mainstream media.”

In hindsight, that helps explain why game companies continued to expand with new employees and studios as playtime surged during the pandemic, then cut 10,500 jobs in 2023 and another 8,000 this year as business stalled, And people have returned to their pre-pandemic habits.

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key insights

Newzoo’s estimates for PC and console growth in 2023.

The industry will experience moderate growth amid market challenges. In 2023, PC and game console market revenue will increase by 2.6% to reach $93.5 billion. But since the first quarter of 2021, average quarterly gaming time has decreased by 26%, and more than 60% of players’ gaming time is spent on games released six or more years ago.

Games six years or older account for 60% of PC/console game revenue.

The future of franchising? In 2023, approximately 60% of new game playtime (or 15% of total playtime) will go to annually released game series, such as Call of Duty, NBA2K or EA FC.

Game time by subgenre.

Emerging markets are a bright spot. It is expected that the compound annual growth rate (CAGR) of PC and game console manufacturers in emerging markets will be +4.7% and +4.8% respectively from 2023 to 2026.

The complete 2024 PC and Console Gaming Report is available for free download on the Newzoo website.

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