The Global Games Market Projected to Exceed $150 Billion in 2019

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Aug 07, 2019, 08:55 ET

PALM BEACH, Florida, Aug. 7, 2019 /PRNewswire/ -- Today, gaming business is available to all consumers around the globe, at all times and across all platforms including mobile, console, PC games, and streaming media. The more places and times they can play keeps expanding, and the never-ending new content and games and new twists and rewards keeps them coming back for even more. This year gaming enthusiasts some more than 2.5 billion gamers across the world, will spend $152.1 billion on games in 2019, representing an increase of +9.6% year on year. Historically, China has been the world's largest gaming market, followed by the U.S. but that should change this year due to China's 2018 nine-month licensing freeze on new games, as well as measures to reduce screen time among children. An industry report says that as of now, the U.S. is the world's #1 gaming market. The report also included revenue projections for both the console and mobile markets. It said this about the console segment: "In 2019, the U.S. will overtake China as the world's largest gaming market by revenues. Overall, the U.S. games market will generate $36.9 billion this year, predominantly driven by its +13.9% growth in console game revenues. Console will be the fastest-growing segment this year, growing +13.4% year on year to $47.9 billion in 2019. This is the second year running that growth in console games will outpace mobile gaming growth. Active companies in the markets this week include Versus Systems Inc. (CSE: VS) (OTCQB: VRSSF), Glu Mobile Inc. (NASDAQ: GLUU), Zynga Inc. (NASDAQ: ZNGA), Take-Two Interactive Software, Inc. (NASDAQ: TTWO), Activision Blizzard, Inc. (NASDAQ: ATVI).

The article continued with the mobile sector numbers: "Mobile gaming (smartphone and tablet), meanwhile, remains the largest segment in 2019, growing +10.2% year on year to $68.5 billion—45% of the global games market. Of this, $54.9 billion will come from smartphone games. PC gaming will be both the smallest and slowest-growing segment, increasing +4.0% year on year to $35.7 billion. Despite the segment being smaller in size, PC's status as the bedrock of innovation in the games market remains evident to this day. Nearly all of the most popular game genres can trace their roots back to PC gaming's modding community."

Versus Systems Inc. (CSE: VS) (OTCQB: VRSSF) BREAKING NEWS: Versus Systems announces that it has executed an agreement with HP, Inc. (NYSE: HPQ) to license Versus' WINFINITE technology for use in HP products and services. The agreement provides for the non-exclusive use of Versus' technology and prizing software by HP and for access to the WINFINTE platform.

Matthew Pierce, CEO of Versus Systems, comments, "Reaching this agreement is an important step for our Company. HP is our largest corporate partner to date and shows we have the ability to work with major, multinational firms at the cutting edge of technology. HP has the potential to become a major partner of ours. We look forward to future implementations of WINFINTE technology and to reaching future user milestones." Read this and more news for Versus Systems at: https://www.financialnewsmedia.com/news-vs/

Other recent developments in the gaming/tech industries include:

Glu Mobile Inc. (NASDAQ: GLUU) recently announced the worldwide availability of Diner DASH Adventures on the App Store and on Google Play. Featuring a whimsical storyline, a quirky cast of characters and mischievous villains to thwart along the way – Diner DASH Adventures lets players flex their sense of adventure through renovating and customizing all-new venues in exciting and creative ways. Experience the bustling, dynamic and beloved world of DinerTown like never before!

Combining reimagined Diner DASH, Hotel DASH and Cooking DASH gameplay – Diner DASH Adventures follows the heartwarming story of heroine Flo as she returns to her hometown to help the citizens of DinerTown. Follow along as Flo goes on an adventure that will take her to unexpected locations like Bistro Bay, the Fish Shack, Seal Cove and beyond! Players must stop Mr. Big and his mischievous goons from carrying out their evil plans – all while making lots of fun new friends along the way.

Zynga Inc. (NASDAQ: ZNGA) a global leader in interactive entertainment, announced the move of its India studio into a new, larger office near MG Road in Bengaluru and is actively hiring for game development roles for this key location. Zynga's India studio drives the development and management of a renowned portfolio of mobile and web titles, including FarmVille, FarmVille 2, FarmVille 2: Country Escape, FarmVille 2: Tropic Escape, Black Diamond Casino, Willy Wonka and the Chocolate Factory Slots, Empires & Allies, Draw Something and more.

"Bengaluru is a central hub for game development with talented professionals who drive innovation," said Matt Bromberg, COO at Zynga. "It is also home to passionate gamers who love to play and build great products. Harnessing this combined passion and talent will further fuel the studio and Zynga as a key development leader in India."

Take-Two Interactive Software, Inc. (NASDAQ: TTWO) recently reported strong results for its fiscal first quarter 2020 ended June 30, 2019. In addition, the Company provided its initial outlook for its fiscal second quarter ending September 30, 2019, and raised its outlook for its fiscal year ending March 31, 2020

"Fiscal 2020 is off to a terrific start with first quarter operating results that beat our expectations," said Strauss Zelnick, Chairman and CEO of Take-Two. "We delivered significant Net Bookings and cash flow growth driven by the performance of Grand Theft Auto Online and Grand Theft Auto V, NBA 2K19, the Borderlandsfranchise, and Red Dead Redemption 2 and Red Dead Online.

Activision Blizzard, Inc. (NASDAQ: ATVI) recently Activision and Infinity Ward revealed the all-new Call of Duty®: Modern Warfare® multiplayer universe to all gamers with a thrilling multiplayer premiere trailer. Scheduled for worldwide release on October 25, Call of Duty: Modern Warfarewill bring first-person action fans, Call of Duty fans, and gamers from all walks of life together in the ultimate multiplayer playground. First details of Modern Warfare multiplayer will be unveiled by some of the world's most prolific streamers in an exclusive global livestream today, where viewers will get their first look at the new online multiplayer, and will also have the opportunity to join the fun and get their own hands-on experience next month when the Modern Warfare Beta goes live for everyone.

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