Global Gaming Market Fetches $152.1 billion

As the US overtakes China as the largest market for global games, the market appears ready to generate a truckload of cash.

According to Global Games Market Report, there are now more than 2.5 billion gamers around the world. This probably tells companies that games lie near the center of the entertainment business.

The survey also shows that gamers would probably spend $152.1 billion on games this year. That’s a whopping 9.6% increase on a year-on-year basis.

Gaming consoles will take the biggest rank-up this year, with a growth of 13.4% year-on-year on the horizon. That’s $47.9 billion in 2019. This gives consoles a nitro boost and makes it the fastest-growing segment.

Mobile gaming, on the other hand, is still the biggest segment. It will probably grow 10.2% year-on-year to $68.5 billion. That’s 45% of the global games market.

The regulatory changes in China last year and the lack of new blockbuster games showed a slowdown in mobile games.

PC gaming is still the smallest and slowest segment. It will only increase 4.0% year-on-year to $54.9 billion.

The same survey shows that the US will become the world’s top games market by revenue. That’s mainly because of the 13.9% growth in console game revenues. It represents over 50% of the total games market in the US.

This makes Sony’s move to buy Insomniac games ever more properly timed, with gamers in the US yearning for better, more immersive gaming experiences.

Gaming: Sony to Buy Insomniac Games

Sony Interactive Entertainment just announced that it will acquire Spider-Man maker Insomniac Games Inc., though details are scarce.

This makes the game-maker the 14^th internal studio that falls under the Sony’s banner.

According to Shawn Layden, chairman of Sony Interactive, the Japanese company has enjoyed collaborative efforts with the game-maker for years. He added that they feel thrill in adding the webslinger-maker to the Worldwide Studios family.

The American gaming developer started in 1994 under the name of Xtreme Software. Ted Price has been helming as the CEO ever since.

According to Price, joining with Sony offers the game-maker “greater opportunities.” He added that the partnership would boost their potential, citing the swinging success of Marvel’s Spider-Man. Last year saw their partnership with Marvel Games, which is under Walt Disney Co.

The game has webbed more than 13.2 million copies to buyers as of the end of July.  Among other franchises that the company debuted are Rachet & Clank, Resistance, and Spyro the Dragon.

For Sony, the partnership would power up its game offerings. This is a strategic move as the market will soon see the launch of rival game streaming services from companies. This also comes ahead of the launch of the PlayStation 5 next year.

According to reports, after the acquisition, the game developer will retain its current management team to run the studio.

As the US overtakes China as the largest market for global games, the market appears ready to generate a truckload of cash.

According to Global Games Market Report, there are now more than 2.5 billion gamers around the world. This probably tells companies that games lie near the center of the entertainment business.

The survey also shows that gamers would probably spend $152.1 billion on games this year. That’s a whopping 9.6% increase on a year-on-year basis.

Gaming consoles will take the biggest rank-up this year, with a growth of 13.4% year-on-year on the horizon. That’s $47.9 billion in 2019. This gives consoles a nitro boost and makes it the fastest-growing segment.

Mobile gaming, on the other hand, is still the biggest segment. It will probably grow 10.2% year-on-year to $68.5 billion. That’s 45% of the global games market.

The regulatory changes in China last year and the lack of new blockbuster games showed a slowdown in mobile games.

PC gaming is still the smallest and slowest segment. It will only increase 4.0% year-on-year to $54.9 billion.

The same survey shows that the US will become the world’s top games market by revenue. That’s mainly because of the 13.9% growth in console game revenues. It represents over 50% of the total games market in the US.

This makes Sony’s move to buy Insomniac games ever more properly timed, with gamers in the US yearning for better, more immersive gaming experiences.

Gaming: Sony to Buy Insomniac Games

Sony Interactive Entertainment just announced that it will acquire Spider-Man maker Insomniac Games Inc., though details are scarce.

This makes the game-maker the 14^th internal studio that falls under the Sony’s banner.

According to Shawn Layden, chairman of Sony Interactive, the Japanese company has enjoyed collaborative efforts with the game-maker for years. He added that they feel thrill in adding the webslinger-maker to the Worldwide Studios family.

The American gaming developer started in 1994 under the name of Xtreme Software. Ted Price has been helming as the CEO ever since.

According to Price, joining with Sony offers the game-maker “greater opportunities.” He added that the partnership would boost their potential, citing the swinging success of Marvel’s Spider-Man. Last year saw their partnership with Marvel Games, which is under Walt Disney Co.

The game has webbed more than 13.2 million copies to buyers as of the end of July.  Among other franchises that the company debuted are Rachet & Clank, Resistance, and Spyro the Dragon.

For Sony, the partnership would power up its game offerings. This is a strategic move as the market will soon see the launch of rival game streaming services from companies. This also comes ahead of the launch of the PlayStation 5 next year.

According to reports, after the acquisition, the game developer will retain its current management team to run the studio.