As per recent reports released by Data.ai and IDC on August 30, titled the “2023 Game Focus” report, it is revealed that global mobile game revenue is projected to reach $108 billion this year.
This figure corresponds to approximately INR 8.94 trillion or 787.32 billion yuan. The mobile gaming sector is expected to surpass the traditional PC and game console market.
Meanwhile, the revenue from PC game consoles is estimated to grow by 4%. The report also highlights that the game console market is anticipated to achieve $43 billion in revenue this year, equivalent to approximately INR 3.559 trillion or 313.47 billion yuan, representing a 3% year-on-year increase.
The report attributes this growth to heightened consumer spending on Sony’s PS5 and Microsoft’s Xbox Series X|S consoles globally.
Furthermore, the PC/Mac game market is projected to experience a 4% year-on-year revenue growth, reaching $40 billion (approximately INR 3.33 trillion or 291.6 billion yuan).
Data.ai emphasizes that game subscription services will play a pivotal role in driving consumer spending within the industry. Additionally, the report predicts that worldwide cloud gaming revenue across all platforms will amount to $3.8 billion in 2023, corresponding to approximately INR 314 billion or 27.702 billion yuan.
Simultaneously, the report indicates that revenue from game consoles, including Nintendo Switch and Valve Steam Deck devices, is expected to decline by 20% to less than $3 billion (approximately INR 248 billion or 21.87 billion yuan).
Data.ai attributes this decline to diminishing consumer interest in the Nintendo Switch Lite.
However, it anticipates that the overall market revenue decline will be offset by consumer interest in Valve’s Steam Deck, ROG’s Ally, and other handheld game consoles.
So guys, if you liked this post and wish to receive more tech stuff delivered daily, don’t forget to subscribe to the Inspire2Rise newsletter to obtain more timely tech news, updates, and more!
Keep visiting for more such excellent posts, internet tips, and gadget reviews, and remember we cover,
“Everything under the Sun!”
Follow Inspire2rise on Twitter. | Follow Inspire2rise on Facebook. | Follow Inspire2rise on YouTube.
