2020 was a big year for the global gaming industry, as lockdowns kept a majority of the world indoors for a time, increasing video game engagement across the board. Because of the dramatic and unexpected spike experienced in 2020, the global games market is actually expected to contract in 2021 by 1.1% to just $175.8B.
Smartphone games are projected to experience the highest growth in 2021 with a projection of a 4.7% YoY increase to $79B. The only other segment that is expected to grow in 2021 is the Tablet Games segment which is projected to earn $11.6B in 2021 – a 2%YoY increase from 2020.
Revenue from Browser PC Games is expected to have the largest contraction in 2021 at -18% YoY, with projected earnings to be less than $3B this year. Console Games are also expected to dip in 2021 after having a big year in 2020 with the release of the next generation consoles of both Playstation and Xbox. Revenue from consoles is expected to be just under $50B in 2021 after crossing the $50B mark in 2020.
“Since smartphones became technologically capable of operating high-performance games, it has become the most lucrative source of revenue for the video game industry. As smartphones become even more and more technologically advanced, expect the smartphone market to gain an even larger share of the global gaming market in the coming years.”
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