Is the gaming industry growing?
Gaming market revenue is well-positioned due to the massive bump in monthly digital gamers—last year consumers spent a massive $44 billion in gaming software and services. But this growth won’t last too long, as monthly digital gamers are expected to increase by just 1.1% in 2021.
How much did the video game industry growth in 2020?
We now estimate that the games market generated $177.8 billion in 2020, up +23.1% year on year, the highest growth for the Market since Newzoo began tracking revenues in 2012.
Is the gaming industry the biggest industry?
The video game industry revenue is forecast to reach $180.1 billion in 2021. As an industry, it is bigger than even Hollywood.
How much is the video game industry worth?
The global gaming market (hereafter referred to as the market studied) was valued at USD 173.70 billion in 2020, and it is expected to reach a value of USD 314.40 billion by 2026, registering a CAGR of 9.64% over 2021-2026.
Is the gaming industry dying?
If you look at the statistics, you would notice that PC gaming’s market share is decreasing. This could lead to the misconception that PC gaming is dying. According to Statista, PC gaming’s market share in the whole video game industry is at 24% in 2019.
What is the future of the gaming industry?
The 2021 global games market will generate revenues of $175.8 billion and is projected to exceed $200 billion by the end of 2023, according to a report by Newzoo (via VentureBeat). More than half of these revenues will come from mobile gaming, the largest segment of the market.
How big is the video game industry 2021?
In 2021, the video game market size in the United States is projected to surpass 65.49 billion U.S. dollars, down from the all-time industry high in 2020 with 66.88 billion U.S. dollars.
How big of an industry is video games?
In 2021, gaming—consistently reported as a roughly $175B industry¹—stands as the largest media category by revenue.
Which country has the biggest gaming industry?
China
The biggest video game markets As of 2020, it is estimated that China ranks first among the biggest gaming markets worldwide, with a revenue of 40.85 billion U.S. dollars. The video gaming market in the United States ranked second, generating an approximate 36.92 billion U.S. dollars in annual revenues.