Monthly Games Industry Report: July 2023

Key insights

7 takeaways

01
Technavio projects the gaming GPU market to reach USD 30.59 billion from 2022 to 2027, driven by demand for PC games and gaming consoles.See it on page 18
02
Verified Market Research projects the Global Metaverse Market to grow at a CAGR of 39.1% from 2022 to 2030, reaching 824.53 billion by the end of the forecast period.See it on page 20
03
Newzoo and Carry1st data show mobile gaming generated $778.6 million in revenue in 2022.See it on page 21
04
The African mobile game industry is expected to generate $1.1 billion in revenue by 2025, according to the same data.See it on page 21
05
WePlay HUB selected 14 game studios from 7 countries for its inaugural program, out of over 300 applications from 15 countries.See it on page 13
06
Valhalla Ventures, a Los Angeles-based seed-stage venture capital firm, raised $66 million in its debut fund for investments in deeptech and gaming.See it on page 12
07
Tencent is becoming the majority shareholder of Polish developer and publisher Techland, known for Dying Light and Dead Island.See it on page 16

Summary

The document is the July 2023 edition of a monthly games industry report, compiled by Mobidictum and covering game and app launches, investments, market research, and articles and interviews across the games sector. Among its items, Technavio is cited as projecting the gaming GPU market to reach USD 30.59 billion from 2022 to 2027, while Verified Market Research projects the Global Metaverse Market to grow at a 39.1% CAGR from 2022 to 2030, reaching 824.53 billion by the end of the forecast period. Newzoo and Carry1st data on Africa state that mobile gaming generated $778.6 million in revenue in 2022 and that overall gaming revenue in Africa will exceed $1 billion within a year. The report also covers Valhalla Ventures raising $66 million in its debut fund, WePlay HUB selecting 14 studios from 7 countries out of over 300 applications from 15 countries, and Tencent becoming majority shareholder of Techland. A GFK Entertainment chart for the UK week ending July 1st lists The Legend of Zelda: Tears of the Kingdom as the best-selling game after it lost the top spot to Final Fantasy XVI. The African mobile game market is cited as expected to generate $1.1 billion in revenue by 2025.