SNE - Global games market to boost by 19.6% in 2020

Boosted by the pandemic, global games revenue to grow 19.6% Y/Y to $174.9B for 2020, +$15.6B than previous forecast due to increased engagement on game spending.As consumers are continuing to engage with gaming more than they did before the pandemic, Newzoo anticipates that the market will continue to grow, generating $217.9B in 2023, representing a strong +9.4% CAGR between 2018 and 2023.China and the U.S. still remains two biggest games market with 49% of the world’s games market in terms of consumer-generated revenues.Mobile gaming is both the largest segment by revenue and growth, representing 49% of the global games market revenue. Games on mobile will grow 25.6% Y/Y to $86.3B in 2020, up from our previous forecast of $77.2B.PC games will increase 6.2% Y/Y to $37.4B in 2020, up from our previous forecast of $36.9B.Games on console will generate +21% Y/Y to $51.2B in 2020, up from our previous forecast of $45.2B.Sector watch: SciPlay ([[SCPL]] -0.2%), Glu Mobile

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Global games market to boost by 19.6% in 2020