GTA VI and new Switch expected to revive gaming

The global video game market is expected to grow significantly by 2027, mainly due to console gaming, according to a report from Newzoo. Key upcoming releases, such as GTA VI and a new Nintendo Switch, are expected to help revive the industry, which has faced economic difficulties recently. After a downturn following the pandemic, the gaming sector is slowly recovering. In 2024, many studios experienced layoffs, closures, and project cancellations due to high inflation and economic uncertainty. However, analysts believe that the new Nintendo Switch, set to launch in mid-2025, along with the anticipated release of GTA VI in autumn, could boost the market. Take-Two Interactive’s previous GTA game has exceeded 210 million sales, making it one of the best-selling games ever. Nintendo has also lowered its sales forecast for the current Switch, indicating a shift toward its next-generation console. Emmanuel Rosier, a market analysis director at Newzoo, commented on the strong appeal of major console games like Sony’s Spider-Man and God of War. He noted that these titles help increase console sales more than older games do on PC. Newzoo predicts that console software revenue will increase by seven percent from 2024 to 2027. In contrast, PC gaming is expected to grow only by 2.6 percent. By 2027, consoles are projected to account for over 56 percent of the combined software market, which is anticipated to reach $92.7 billion. Total gaming playtime also saw a six percent increase in 2023, driven largely by a new Call of Duty game from Activision Blizzard.