The past two years have been trying to say the least for the gaming industry. Redundancies, downsizing and closures have become commonplace news headlines.
Last year, over 10,000 people lost their jobs and between January and July this year, a further 11,200 people were made redundant. But despite these gloomy figures, the gaming market is growing, with new figures showing an increase in global turnover.
Gamesindustry.biz reports an expected annual turnover of $187.7 billion, which is certainly less than expected but still an increase of 2.1% compared to 2023. In addition, the PC segment is predicted to grow the most, which is attributed to weak console launches and increased support for cross-play.
The PC segment is expected to be this year’s “main growth driver” at $43.2 billion, a 4% increase compared to 2023. This is a result of cross-platform releases and a lack of major titles on console. This is despite it being the lowest segment in terms of consumer spending, making up 23% of total revenue. Mobile is due to generate $92.6 billion, a 3% increase year-on-year and making up nearly half of the global games market.