DFC Intelligence Forecasts Global Video Game Market Spending to Reach $250 Billion in 2023
SAN DIEGO, CALIF. – Video Game Industry analyst firm DFC Intelligence has issued its latest forecast for the global video game market that increases its overall outlook for the market. This increase is driven by new console systems and a growing mobile game market.
DFC Intelligence estimates that the video game software market is expected to grow from $118 billion in 2018 to about $164 billion in 2023. This rapid growth is driven by mobile games and emerging markets, but also by a growing number of high-end gamers looking for powerful game systems.
The new DFC forecasts also look at consumer spending on high-end video game hardware. Spending on dedicated game console systems and PC game hardware is expected to reach over $80 billion by 2023. At nearly $250 billion a year, spending on video games is expected to be the largest global entertainment category in 2023, based on consumer spending.
Overall, DFC forecasts are more bullish on the Sony PlayStation 5 and Microsoft Project Scarlett, expected to release in late 2020. “It now appears that competition from companies like Google, Apple and Amazon is not going to be a major factor,” said DFC Intelligence analyst David Cole. “Sony and Microsoft are still strong with high-end gamers and competition from game streaming services will be limited.”
Cole also notes that there is very little overlap between the mobile game markets and high-end console and PC games. “Mobile games thrive because they reach the masses, but for more dedicated game consumers they are really a secondary platform.”
About the Forecasts
DFC Intelligence game industry forecasts are updated throughout the year to account for current trends and new products. The forecasts are available in multiple formats that include pdf reports, Excel spreadsheets, and online access. Clients can purchase forecasts on a one-off or on an ongoing basis. It is also possible to custom pull specific forecasts on a given range.
DFC Intelligence has also announced its new Executive Briefing Series of reports. This series of twice a month reports is designed for qualified executives and investors who want access to quick summaries of DFC forecasts and analysis of key industry trends.
Additional details about the forecasts can be found at https://www.dfcint.com/product/worldwide-video-game-market-forecasts/
For information about DFC subscription services go to https://www.dfcint.com/services/. Members of trade, accredited and industry press may request an executive summary and direct briefing with DFC Intelligence.
DFC Intelligence is hosting a conference call on Wednesday. July 17th at 11:00 AM PDT/2:00 PM EDT to discuss findings from the report. During the call DFC principal analyst, David Cole will be answering questions about the reports’ findings, forecasts and topics including high-end gamer growth, growth of casual games and new game genres on mobile, cloud gaming, game streaming services, and games going Netflix as well as the new console systems from Sony and Microsoft.
To register please go to: https://dfcintelligence.wufoo.com/forms/w1526jen1i0u0nc/
About DFC Intelligence
DFC Intelligence (http://www.dfcint.com) is a strategic market research and consulting firm focused on interactive entertainment and the emerging video game, online game, interactive entertainment and portable game markets. Since 1995, DFC has published in-depth strategic market reports and subscription-based research services. DFC research is used by more than 300 leading companies in over 30 countries worldwide.