A new report from Newzoo, a market research firm, indicates that the gaming industry has managed to accrue $91.8 billion in revenue in 2015 and is expected to grow to $99.6 billion by the end of this year.
Quartz caught wind of the new report from Newzoo over on their official website. A large focus of the report is on how the casual market is making lots of money from spending a lot on mobile apps the world around, but mostly from China. Of the $30.4 billion from the mobile sector’s revenue, China will accounts for approximately 25% of 2015’s mobile revenue share, bringing in $7.1 billion from mobile spending alone. Newzoo expects a 41% growth for 2016, with China estimated to hit $10 billion in spending in the mobile market.
According to Newzoo’s forecasts, the United States will no longer be the biggest and baddest gaming market on the planet. China will overtake the mantle and lead the way forward from 2016 onward.
Those are some amazing looking figures.
While mobile gaming is definitely on the rise, finding success in the that particular field is fairly difficult. Competition is stiff. Trying to get people to play, read about or even know your game exist has become a challenge all its own.
Typically, the traditional hardcore gaming sector is still crowded as ever but slightly more forgiving when it comes to getting eyes on your project, mostly thanks to things like YouTube where millions of gamers will find trusted content creators to follow their exploits in a game and potentially go and pick up a copy themselves. Sadly, outside of YouTube and live-streaming services like Twitch, there aren’t many other trusted alternatives to promote video games unless you go the expensive route with advertising.
What’s most impressive, though, is that from 2012 to 2015, China’s mobile market skyrocketed from $1.1 billion to $7.1 billion. Their overall gaming market blasted up from $10 billion to $21.2 billion, doubling over the course of just three years.
NewZoo expects China’s gaming industry to be worth around $28.9 billion by 2019 in just three year’s time.
As for the rest of the industry, Newzoo expects gaming to finally cross the $100 billion dollar bridge come 2017. It’s amazing that for an industry as beloved and fast growing as gaming is, the video game journalism sector has managed to become one of the most devalued aspects of the culture over the past decade.