Why the global games market will reach $86 billion
The global games market is expected to continue rising as tablets become a more popular gaming platform.
The numbers, from market research firm Newzoo, show that by 2016 the global gaming market will reach $86.1 billion, up from $66.3 billion in 2012. During that time, the compound annual growth rate for handheld sales will be -15 percent and for PC/Mac platforms, -6.4 percent. The market for the TV/console platform -- which is the most popular gaming platform -- will see modest growth of 3.5 percent. Meanwhile, tablets will see the biggest growth at 47.6 percent, followed by smartphones at 18.8 percent.
Here's a look how the global games market is expected to rise from 2012 to 2016.
What's more impressive is not only the growth rates for smartphone and tablet platforms, but their increasing market share. Combined they account for just under 14 percent of the $66.3 billion market. By 2016, they will account for 27.8 percent of a $86.1 billion market.
The industry is no doubt benefiting from the fact that the use of smartphones around the world is rising. Last quarter, nearly half of all mobile sales were smartphones. That will only help increase the number of gamers worldwide, which, Newzoo predicts, will rise from 1.21 billion this year to 1.55 billion in 2016.
Asia/Pacific will continue to lead the way as the largest market for gaming. By 2016, its market share will reach 37.9 percent.
Photo: Flickr/michaelnugent
This post was originally published on Smartplanet.com