In 2023, the global software gaming market has undergone another year of slow growth relative to the prior years, albeit with marginally better performance.
The retail value for the year amounted to $179Bn, a 2% growth over the previous year. Deceleration in spending stems from the mounting economic burden globally, and it is mirrored in the tightening of wallets across the consumer electronics sector.
Even though gaming hardware has grown in volume terms with gaming consoles in particular, on the software value side, it has experienced a y-o-y reduction or flat growth across all platforms.