The global games market is in a period of stabilization and recovery throughout 2024, supported by the growing install base of current-generation consoles like the PlayStation 5 and Xbox Series X|S.
Developers are increasingly pivoting back to premium, finite gaming experiences to counter the oversaturation of the live-service market.
Mobile developers are expanding to PC platforms to mitigate the impact of rising user acquisition costs and stricter privacy regulations.
Growth in multi-game subscription services is expected to decelerate as they face direct competition from free-to-play social platforms such as Fortnite and Roblox.
The industry is preparing for significant infrastructure shifts, including the anticipated launch of a new Nintendo console and the introduction of an Xbox mobile store on Android.
Generative AI is currently being utilized to improve production efficiency, though it is not expected to fundamentally transform game development at scale during 2024.
Companies are prioritizing risk-reduction strategies by focusing on established intellectual properties and cross-platform accessibility to navigate high interest rates and limited investment capital.
The global games market in 2024 is characterized by a period of stabilization and strategic restructuring following the post-pandemic correction. While the industry saw a revenue decline in 2022, recovery began in 2023 and is expected to continue through 2024, driven largely by the expanding install base of current-generation consoles like the PlayStation 5 and Xbox Series X|S. Despite this growth, the year is defined as a lean period for many companies as they navigate high interest rates, reduced investment capital, and a highly competitive landscape where a small number of titles dominate the majority of player engagement.
Key findings indicate a significant shift in business models and platform strategies. While live-service games remain the primary revenue drivers, the market is experiencing oversaturation, leading many developers to return to premium, finite gaming experiences. Growth in multi-game subscription services is expected to slow as they face competition from free-to-play social platforms like Fortnite and Roblox. Additionally, mobile developers are increasingly diversifying by bringing their titles to PC to combat rising user acquisition costs and stricter privacy regulations. Major hardware and distribution shifts are also anticipated, including the launch of a new Nintendo console and the introduction of an Xbox mobile store on Android.
The scope of this analysis covers global market trends across PC, console, and mobile segments, with revenue forecasting extending through 2026. The methodology combines internal market data and analyst perspectives with a survey of gaming executives and industry experts from companies such as Ubisoft, Iron Galaxy Studios, and Savvy Games Group. Emerging technologies like generative AI are identified as tools for increasing production efficiency, though they are not expected to transform game development at scale within the immediate calendar year. Overall, the industry is moving toward risk-reduction strategies, focusing on established intellectual properties and cross-platform accessibility to maintain stability.
