Market researcher Newzoo issued a new prediction this week indicating that the global gaming market will reach $86.1 billion by 2016.
Helping to fuel the projected compound annual growth rate of 6.7 percent will be… no surprise… mobile.
As smartphones and tablets become bigger players in the gaming ecosystem, gamers will no longer be limited to their consoles for a quality gaming experience. In fact, the global community of gamers is poised to climb from 1.21 billion to 1.55 billion before the end of 2013.
“Especially in the weeks leading up to E3 we are witnessing a large number of global market estimates and projections from various sources. In principle it is not hard to make high-level market projections,” explains Newzoo CEO Peter Warman.
“The devil is in the detail and the real challenge is twofold,” he continues. “First of all, projections should be based on primary data sources across all business models and involving all KPIs in the most granular way possible. This is very complex and is the reason we spent 12 months developing the model behind our global data report. The second challenge is to slice and present the data in a way that is useful to the industry and investors. This requires specific industry knowledge and hands-on experience working with global game companies on a daily basis.”