The gaming industry has faced considerable challenges in recent times, yet it continues to display resilience and growth. The occurrences of layoffs and company downsizing have dominated industry news, reflecting the tough landscape that many businesses have navigated.
In the previous year, more than 10,000 individuals found themselves out of work, with an additional 11,200 redundancies reported from January to July of the current year. Nevertheless, the overall gaming market is on an upward trajectory, as evidenced by new data indicating a rise in global revenue.
According to Gamesindustry.biz, the anticipated annual turnover is projected to reach $187.7 billion. Although this figure is lower than previous expectations, it still marks a 2.1% increase when compared to 2023. Furthermore, it is the PC gaming segment that is poised for the most significant expansion, with weak console launches and a rise in cross-play support contributing to this trend.
The PC segment is forecasted to become the primary engine of growth this year, estimated at $43.2 billion, reflecting a 4% increase from 2023. This surge can be linked to more cross-platform game releases and a noticeable absence of major console titles. Interestingly, despite being the segment with the least consumer spending, accounting for just 23% of total revenue, it shows great potential. In contrast, the mobile gaming sector is set to generate $92.6 billion, representing a 3% year-on-year growth and constituting almost half of the overall games market.
