The global video game industry is now expected to surpass $100 billion in revenue for 2021
A new record. In the United States alone, revenues are expected to reach $30 billion, also a record, representing 11% year-over-year growth.
The COVID induced lockdowns in 2020 where a huge boon to the gaming business. User growth and gamer revenues rose to record highs, growing 20%. However, as lockdowns were eased across the globe, user growth and revenues continued to rise. This year will represent the largest ever revenue-year for the industry.
2022 promises to be even larger.
This year, US gaming revenue is projected to cross $30B for the first time, reaching an estimated $30.37B. From now through 2025, the compound annual growth rate, in the US alone, is expected to be 8.75%, reaching $42.5 billion by the end of 2025.
Mobile gaming is expected to be the majority revenue stream in 2021, contributing over $20 billion to the $30 billion forecast.
Investors in mobile game publishers and developers are the greatest beneficiary of this growth. New, upcoming technology could drive growth even higher than current forecasts, as much of the estimates do not include in-game purchases of real-world products.
TCI Entertainment, a gaming company out of Delray Beach, Fl is looking to launch its patented in-game commerce technology this year. The technology will comingle gaming and eCommerce. By adding eCommerce revenues, those generated via mobile gaming, the industry could see its forecasts re-evaluated to include the potential of tens, perhaps hundreds, of billions in new revenue.
Read more about how US gaming will surpass $30 billion in 2021, HERE
Source: https://www.apnnews.com/us-video-game-industry-to-pass-30b-revenue-mark-in-2021-11-yoy-growth/