Quick summary:
In September 2025, Newzoo projected a global market of US$ 188.8 billion. One year later, updated data shows the market reached US$ 201.6 billion in 2025 and the projection for 2026 is US$ 213.9 billion (+6.1%). Growth exceeded expectations across all platforms and regions. Latin America stands out with US$ 9.3 billion in 2026 (+7.9%), the fastest pace among major Western regions. This article compares both outlooks and shows why the region matters more than ever.
From US$ 188.8 billion to US$ 213.9 billion: what changed in one year
In September 2025, Newzoo published the Global Games Market Report 2025, projecting a global market of US$ 188.8 billion, with annual growth of 3.4%. It was a scenario of moderate expansion, consistent with the narrative of a market maturing after the pandemic peak.
One year later, the numbers tell a different story. According to Newzoo’s updated report, published in August 2026, the actual 2025 market reached US$ 201.6 billion (+9.1% over 2024), surpassing the original projection by nearly US$ 13 billion. For 2026, the new projection is US$ 213.9 billion, a 6.1% increase over the previous year.
What does this mean? That the gaming market accelerated beyond expectations. And that companies that made decisions based on the more conservative 2025 scenarios may be operating with an outdated map.
The comparison below shows the evolution between the 2025 projections and the updated 2026 data.
| Indicator | Newzoo 2025 | Newzoo 2026 |
|---|---|---|
| Global revenue | US$ 188.8 bn (projection) | US$ 213.9 bn (projection) |
| Annual growth | +3.4% YoY | +6.1% YoY |
| Mobile | US$ 103 bn (+2.9%) | US$ 121.1 bn (+6.8%) |
| Console | US$ 45.9 bn (+5.5%) | US$ 46.9 bn (+5.1%) |
| PC | US$ 39.9 bn (+2.5%) | US$ 45.9 bn (+5.3%) |
| Global players | 3.6 billion | 3.7 billion (+4.4%) |
Sources: Newzoo Global Games Market Report 2025 (September 2025) and Newzoo 2026 Global Games Market Key Numbers (August 2026). Indicators compare estimates for different years.
But conversion is trending toward stability
The global market has 3.7 billion players in 2026 (+4.4% over 2025), with a projection to reach 4.07 billion by 2029. Of these, 1.65 billion are spenders (+4.7%), representing a conversion rate of 44.6%.
Average revenue per paying user (ARPPU) stands at US$ 129.6 in 2026, a modest 1.4% increase over the previous year. Online population penetration is at 62%, with limited room for growth through new players.
The conclusion Newzoo reinforces is clear: future industry growth will depend less on adding new players and more on monetizing and retaining the existing base. For companies in the sector, this intensifies the competition for attention and wallet share, and adds value to those with access to behavioral data and a qualified contact network.
Platforms: mobile dominates, console accelerates, PC holds steady
Mobile remains the largest platform, with US$ 121.1 billion in 2026 (57% of the market), growing 6.8% over 2025. The pace, however, is expected to slow: between 2023 and 2026, mobile grew at an average of 8.0% per year, but the projection for 2026-2029 drops to a CAGR of 4.6%.
Console reaches US$ 46.9 billion (+5.1%), accelerating after a period of near stagnation in 2025. The launch of Grand Theft Auto VI in November 2026 is the main catalyst, expected to drive full-game sales by 17.5%, the highest growth among all business models. The projection for 2026-2029, however, is more moderate: a CAGR of 2.6%.
PC generates US$ 45.9 billion (+5.3%), with the highest payer conversion rate among platforms (55%). The projection for 2026-2029 is the strongest among the three segments, with a CAGR of 5.2%, driven by broad geographic growth led by Asia-Pacific, Latin America, and Middle East and Africa.
Latin America: from US$ 8.3 billion to US$ 9.3 billion in one year
Latin America is one of the regions that benefited most from the global acceleration. In 2025, Newzoo estimated the region’s revenue at US$ 8.3 billion, with 372.3 million players. Updated 2026 data shows US$ 9.3 billion (+7.9% over 2025) and 394 million players (+4.7%).
This growth rate is the fastest among major Western regions, outpacing North America (+5.4%) and Europe (+6.1%). Only the Middle East and Africa are growing faster in revenue (+10.3%), but from a smaller base.
A data point that contextualizes the opportunity: LATAM accounts for 11% of global players but only 4% of revenue. This gap indicates significant room for monetization growth as payment infrastructure and purchasing power evolve in the region. For comparison, Asia-Pacific accounts for US$ 100.7 billion (47% of global revenue) with 1.94 billion players, while North America generates US$ 56.9 billion (27%) with 251 million players, and Europe US$ 38.5 billion (18%) with 475 million.
China and the United States together account for 52% of all global gaming revenue in 2026. But the most significant audience growth is in emerging regions. For global companies, the challenge is to balance presence in revenue-generating markets with positioning in audience-generating markets, and Latin America is where these two movements converge most intensely.
What this means for those doing business in the industry
Newzoo’s updated data paints a landscape with direct implications for corporate strategy. Organic player base growth is decelerating: from 4.4% in 2026 to a CAGR of 3.2% through 2029. Player-to-payer conversion is stabilizing. The competition for attention and wallet share is intensifying.
In this context, two fronts stand out. On one side, mature markets (North America, Europe, Asia-Pacific) concentrate revenue and demand increasingly sophisticated retention and monetization strategies. On the other, emerging regions (Latin America and Middle East and Africa) are where the audience is growing vigorously and where there is room for expansion.
For companies looking to capture value in the industry’s next cycles, being on both sides is more than desirable: it is necessary. And gamescom latam, as the only edition of the world’s largest gaming event dedicated to Latin America, is the most direct connection point between the global market and the fastest-growing region in the West.
Frequently asked questions
Why did the gaming market grow above the 2025 projections?
Because Newzoo projected US$ 188.8 billion for 2025 in September of that year, but the actual market reached US$ 201.6 billion (+9.1%), driven by above-expected growth in mobile, PC, and console. For 2026, the new projection is US$ 213.9 billion, with 6.1% growth.
Why does player-to-payer conversion matter for business strategy?
Because the conversion rate stands at 44.6% and is trending toward stability. With online population penetration at 62% and limited room for new players, future growth depends on monetizing and retaining the existing base. Companies that master retention and engagement have a competitive advantage.
Why does PC have the strongest growth projection between 2026 and 2029?
Because PC has the highest payer conversion rate (55%) and broad geographic growth, led by Asia-Pacific, Latin America, and Middle East and Africa. The projected CAGR for 2026-2029 is 5.2%, above mobile (4.6%) and console (2.6%).
Why is Latin America growing faster than North America and Europe?
Because the region combines an actively expanding player base (394 million, +4.7% YoY) with significant room for monetization growth. LATAM accounts for 11% of global players but only 4% of revenue, a gap that indicates potential as payment infrastructure and purchasing power evolve.
Why does this article compare the 2025 and 2026 Newzoo reports?
Because the difference between projections and actual results shows the market accelerated beyond expectations. Companies that made decisions based on the 2025 scenarios may be operating with outdated assumptions. The comparison provides an updated view to recalibrate strategies.
