Analysts are expecting Nintendo to release a successor to its hit Switch console in its fiscal year 2025.
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The global video game market is set for sluggish annual growth this year amid weak sales of gaming consoles, according to a new report from market research firm Newzoo.
In a blog post published Tuesday, Newzoo said the games industry is set to grow 2.1% year over year to an estimated $187.7 billion.
That is slightly down from an earlier January forecast in which the firm said it expects the video game industry to grow 2.8% to $189.3 billion in 2024.
Almost half of all consumer spending on games in 2024 is expected to come from the U.S. and China, Newzoo said, with the U.S. generating $47 billion of sales and China accounting for $45 billion.
Though it’s a step up from last year’s growth rate …