A new report from Newzoo reveals that global consumer spending for PC and console gaming declined by 2.2% to a total of $92.3 billion in 2022.
Despite the dip, Newzoo’s said ‘overall performance still outshines previous forecasts’ noting that there are opportunities to reach over one billion PC players and 611 million console players.
As well as market data, the report highlighted that average playtime dropped by 23% across Steam, Xbox and PlayStation from 2021 to 2022. Newzoo noted that they see this as a ‘corrective step’ following the peaks of activity during the pandemic.
In terms of earnings by country and region the US was largest accounting for 34% ($31.2 billion) of the global market followed by Asia-Pacific 33% ($30.2 billion). Europe placed third with 26% ($24.3 billion).
The full report can be accessed here.