Global games market to generate $175 billion in 2021- Newzoo
Research firm notes a decline of 1% year-over-year in revenue
Today, Newzoo released its 2021 estimate for the global games market, saying the industry is posed to generate $175.8 billion this year.
The research firm shares that this would be a decline of 1.1% year-over-year in revenue.
Newzoo attributes this small expected decline to the effects of the COVID-19, which has caused a number of releases to be pushed to 2022.
It further explains that the forecast decline is also due to the shortage of hardware and consumer electronics caused by the pandemic.
![](https://assetsio.gnwcdn.com/Newzoo_2021_Global_Games_21Copy.jpg?width=720&quality=70&format=jpg&auto=webp)
Newzoo also estimates that the mobile games market will generate $90.7 billion in 2021, seeing growth of 4.4% year-over-year. Mobile game revenue will account for 52% of the global games market revenue in 2021.
It concludes that the games global market is on track to exceed $204 billion in 2023.