Research firm Newzoo reckons that $159.3bn will be spent on video games this year.
That's according to the company's new Global Games Market report, in which the firm says that spending will increase by 9.3 per cent.
The firm also says that video games will be played by 2.7bn people during 2020. This increase is primarily due to the COVID-19 coronavirus pandemic.
Mobile games will see the biggest growth of any sector, 13.3 per cent, due to their accessibility and widespread hardware. The PC side of things will see $36.9bn in spending, an increase of 4.8 per cent. This is due to the fact that PC is primarily a digital industry, so isn't as affected as console, which relies more on physical retail.
$33.9bn will be spent on PC software – both digital and physical – which is an increase of 6.7 per cent year-on-year. Meanwhile, browser-based PC games will attract $3.08bn, a decrease of 13.4 per cent.
Looking further into the future, Newzoo reckons that by 2023, video games spending will hit $200.8bn for the year. This is due to the new console generation, as well as continued increase in the mobile games sector. That area will continue to be the fastest-growing.
