Consumer Spending on Video Games, Hardware and Accessories to Reach $203 Billion

Spending in the global video game industry is expected to reach new record levels this year. Even as the pandemic wanes, and economic slowdowns loom, usage and purchases in the industry have shown to be more than resilient; the industry remains strong.

This year, 5.4% growth in spending on games, hardware and accessories is expected, bringing annual industry revenues to over $200 billion for the first time. Additionally, the number of gamers, globally, are expected to increase as well, reaching 3.09 billion by years’ end.

Nationally, the US will overtake China as the top consumer market for games. It is expected that US consumers will spend $50.5 billion on games, hardware, and accessories while Chinese consumers spend $50.2 billion.

However, the largest “region” for spending is expected to remain Asia, as has been for years.

In mobile gaming, global revenue will surpass $100 billion for the first time, reaching $103.5 billion…

And despite supply chain issues, consoles and console games are expected to generate nearly $60 billion this year, up 8.4% over 2021.

On the PC gaming front, revenue is projected to grow by nearly 2% to $41 billion.

While 2021 was a record year for the industry, this year will break records across the board.

For investors in the space, mergers and acquisition values have already broken all-time highs and are expected to reach perhaps $150 billion this year.

Make no bones about it, the video game industry is strong, very strong.

You can read the full 2022 Video Game Industry report, HERE

Or discover potential acquisitions targets, HERE

Source: https://newzoo.com/insights/articles/games-market-revenues-will-pass-200-billion-for-the-first-time-in-2022-as-the-u-s-overtakes-china/