The gaming landscape today is incredibly lucrative and has no signs of slowing down anytime soon. Newzoo released the latest quarterly update of its Global Games Market Report, It showed that 2.2 billion gamers across the globe are expected to generate $108.9 billion in game revenues in 2017. The majority of this market share is dominated by two massive companies in Microsoft and Sony, which have been competing against each other within the console gaming market for years now.
Sony was the first to break into the market in 1994 with the introduction of Sony’s PlayStation. This console dominated the industry for the better part of 6 years until the year 2000 when Sony introduced the PlayStation 2 and in 2001 their rival Microsoft unveiled their Xbox. As of today Sony and Microsoft are still in direct competition with their newest generation consoles in Microsoft’s Xbox One and Sony’s PlayStation 4.
The landscape for the gaming console industry is constantly changing with mobile gaming take a large portion of the market share away from these two household companies. In terms of overall growth rate, no segment in the gaming systems industry is more lucrative than the mobile smartphone and tablet market. Another statistic in the Newzoo report shows that, currently spending on mobile games is growing at a rate of 19% per year, currently claiming 42% of the market at $46.1 billion in spending. You can read more about this in my Technical Brief.