The majority of video game players are between the ages of 18 and 34
During the height of the pandemic, as this demographic was largely working remotely, gaming activity and sales rose to grand new heights.
As MarketWatch notes, the pandemic was largely responsible for the $180 billion in video game industry sales in 2020. But as we move beyond COVID-19, video game sales, play time and user growth has not slowed.
In fact, the pandemic has only opened gaming to a wider audience. With more people now working from home than in 2019, even as workplaces globally have reopened, industry experts believe the growth in video gaming is likely to continue at a rapid rate for perhaps many years to come.
By 2027, the global video game industry is expected to be worth nearly $400 billion. This enormous number does not, however, take into account the new telecommuting economy.
As business owners have realized, productivity rates and employee satisfaction numbers have been very good for their remote workforce. Now, as many job seekers are looking for telecommuting opportunities, and productivity levels are more than satisfactory with current telecommuters, the necessity for in-office work is diminishing.
Because of this, telecommuting will remain viable, and new telecommuting positions will grow. With more time on the hands of workers to play games, the $400 billion market expectation for 2027 may be underestimated.
With this in mind, investment in the space is likely to increase from record levels this year, as well.
Already in 2021, the market has reached over $71 billion in M&A and funding for gaming companies. By years’ end, this could reach $100 billion or more.
Investors of all sizes, from large private equity funds to big gaming companies, and small individual investors and VC funds have all been taking advantage of this wild growth.
With eyes set on a new breakout year in 2022, many of these investors and firms could double down. Considering the market will likely more than double in just a few years’ time, it makes complete sense that they take advantage of it now.
Read more about telecommuting and the gaming industry, HERE
Or discover investment opportunities in this quickly growing space, HERE
Source: https://www.vgr.com/how-work-from-home-life-is-changing-the-gaming-industry/