The value of the gaming industry has topped US$300 billion following a pandemic-fueled surge, with some 2.7 billion players worldwide, a research report said Thursday. Mobile gaming alone accounts for nearly half of the total gaming revenue worldwide, and if this year’s E3 is something to go by, we will be seeing many more mobile games very soon. You need... Top 20 Budget Gaming Chairs Under $100, $150, $200, and $250. Bet that one was a shocker, and we’ve got plenty more interesting facts about the gaming industry coming up in this article. That is quite a big piece of the gaming market. We want to thank the star of our show – smartphones. This will result in an expected market volume of $100.56 billion by 2024. are in the making. Many game developers are becoming interested in creating graphics that are ultra-realistic. It turns out that the video game industry makes more money than Hollywood. And they should be worried because online gaming has shifted the attention of their consumer base away from TV shows and movies. As an industry, it is bigger than even Hollywood. Studies have shown that people between the ages of 18-25 are more interested in watching gamers play in virtual spaces, as opposed to watching regular sports broadcasts. Reports show that the video game industry revenue was $78.61 billion in 2017. Since then, the industry is primarily led by companies in North American, Europe, and Japan, but other regions, including Australia/New Zealand, and other southeast Asian countries including C… The use of, will allow users to experience online gambling as though they were in. Although the growth in playtime was spread across all demographics, the most surprising. The gaming craze is huge. Their increase in playtime also led to an increase in spending – 76%. But the majority of mobile games are what we call “casual” and “hyper-casual”. Commentdocument.getElementById("comment").setAttribute( "id", "ae129ea348f5c2b2b742eece0a764396" );document.getElementById("bc44e9674a").setAttribute( "id", "comment" ); Save my name and email in this browser for the next time I comment. ? Pretty awesome, right? In a bid to bolster the gaming niche in the country, Razer is looking to underwrite gaming companies and eSport teams based in the country. An Xbox series X dedicated audio chip is also set to be released, while the PS5 console is proclaimed to come with 3D audio. plan to release new consoles during the late part of 2020. is also set to be released, while the PS5 console is proclaimed to come with, With advertising becoming a very important source of revenue for gaming companies, many game studios aligned their marketing and monetization units into one single team. As of September 2019, Electronic Arts began to test-run a cloud-gaming service. This is twice that of the North American gaming market. This surpasses the box office film / the movie industry revenue by an easy 4 times, AND almost 3 times the music industry has built up thus far. Till next time! on their Xbox and PlayStation. Techopedia defines them as “competitive first-person shooter games, large online multiplayer role-playing games, or even primitive logic or action games, as long as there is a competitive element.”. According to gaming industry statistics for 2020, China ranked first among the biggest gaming markets in the world. Find more about the market in our analysis on the video gaming industry! Indie comes from ‘independent’, meaning they don’t belong to any of the big sharks in the industry. Videogames are a bigger industry than movies and North American sports combined, thanks to the pandemic Last Updated: Jan. 2, 2021 at 10:27 a.m. How Much Is the Gaming Industry Worth? has led to the emergence of a new spectator market. That makes it … Online Gaming: The Rise of a Multi-Billion Dollar Industry. With the advent of game streaming services such as Google’s Stadia and Microsoft’s xCloud, you can bet that gaming is going to become even more mainstream than it already is, which means even more people will be introduced to this amazing form of entertainment. By the end of 2020, the video game market actually generated a value of $162.32 billion in revenue. New gaming consoles are coming out during the 2020 holiday season from both Microsoft and Sony, but analysts predict that these won’t prevent mobile gaming from taking first place as the main source of income for the industry. Whereas TV revenue fell by 8 percent in 2018, gaming sector sales increased by 10.9 percent. These figures contain data for all platforms- PC, mobile, console, Mac, and tablet. It was also greater than digital music sales and cinema box office sales combined for that year. The growing gaming industry size has led to the emergence of a new spectator market. PC and console games generated $14.4 billion and $0.6 billion, respectively. It is called Elite Squad, and like it or not- the game will probably be highly monetized. Venues can hardly hold everyone willing to attend. If you are into gaming, you will need to invest in equipment. And if you’re wondering what this demographic’s most popular video games were, you might be pleased to find out that ‘Animal Crossing: New Horizons’ ranked top of the list. However, recent reports have it that the company has made its cloud gaming service available on all Android devices running an Android 6.0 OS at the least. We are honestly surprised by all those big numbers and we hope you found them as entertaining as we did! Required fields are marked *. More About Me, Your email address will not be published. ( The music industry reached a $57 billion market in value.) It is expected that by 2021, the number of spectators will overtake the number of gamers. The future of gaming is looking bright and let’s not forget esports- even though you may not be a competitive gamer yourself, you can surely enjoy watching pros compete at the peak of human ability, executing mind-blowing moves on the big stage. Just look at how big PUBG Mobile and Arena of Valor are in China right now. At the beginning of 2020, the global gaming industry was worth. Even now, there are new esports arenas under construction – the LCK Esports Stadium in Seoul, Full Sail University’s arena in Florida, and also one in Richmond, Canada. The video game industry had its primary roots in the United States following the introduction of arcade games and console systems, with Japan soon following. Reports go further to indicate that although the younger generations will pick interest in these games, those who grew up playing these games are the primary target. Mobile. That is an insanely high number, but even more astonishing is their prediction that the gaming market worldwide is going to be worth more than $180.1 billion by 2021. Platforms like Twitch are killing it in 2020. And that can be quite expensive. Note that the film industry revenue in these states doesn’t account for DVD sales, streaming, etc. Reports show that Google has been the front liner of the cloud gaming service since the launch of its Stadia service supported by a few Android devices like Google Pixel series, OnePlus, and Samsung smartphones. Stats on video game trends show that this year, games like Final Fantasy VII Remake, Resident Evil 3, and XIII Remake are in the making. According to gaming industry statistics for 2020, immersive gaming, also known as VR gaming, is about 20 times more interesting than traditional games. You are in the right place and time to meet your ambition. It shouldn’t come as a surprise that mobile gaming tops the chart as the largest income stream in the gaming market. Gaming is the Third Most Popular App Category. Some projections put mobile gaming at a 100 billion dollar value by 2021, which is almost certainly going to leech some of the revenue away from console and PC gaming. One dollar out of every 10 dollars spent on games is on tablets since they account for nearly 10 percent of the global market. Basically, every AAA dev from Activision Blizzard to EA and Ubisoft is jumping on the mobile game hype train and why shouldn’t they? In 2020, the console gaming market will experience. Cross-platform gaming is a thing now, and players across various platforms- console, PC, and the phone will be able to play with each other which will further increase revenue opportunities and the number of people who are interested in playing a certain game will now be able to enjoy it across multiple platforms. Video game industry revenue growth should continue through 2022 at least, researchers say, when video games are projected to bring in a staggering $196 billion. This impressive number is due to the fact that there is money flowing towards the esports industry from advertising, sponsorships, and media rights. The industry is now worth £3.86 billion compared to video and music sales, which are worth £2.33 billion and £1.33 billion respectively. In 2016, high-fidelity games accounted for about 5% to 10% of the top mobile games in western countries. And over two- thirds (68%) of China’s urban population in Tier 1 and Tier 2 cities watch gaming-related content online, whether it be game streams by their favorite esports professionals or content of famous streamers/ online celebrities. Resources trickle at an extremely slow rate naturally, but you can buy resources with an in-game currency known as “gems”. The console gaming market has enjoyed a memorable time since 2015. Ubisoft is releasing its mobile game based on a dream team of characters from various Tom Clancy games. The global games market is predicted to be worth 180.1 billion by 2021, with a CAGR (Compound Annual Growth Rate) of 10.3 percent between 2018 and 2021. The market is mainly driven by female mobile gamers, 60% of whom buy cosmetics or skins in-game. Those are some impressive numbers, right? Casual and hyper-casual games rule the mobile gaming world. Video game trends are showing that the industry is likely to reach a revenue value of $295.63 billion in 2026. When you sit down on the couch to grab a controller and play a game on your console, you find yourself immersed in a virtual world that is full of awesome things. In a new report, Accenture (NYSE: ACN) estimates that the full value of the gaming industry now exceeds $300 billion, more than the combined markets … Last week, we published our latest games market estimates for subscribers to our Global Games Market Report (and also via Newzoo’s Analytics Platform).We forecast that 2020’s global games market will generate revenues of $159.3 billion, a healthy year-on-year growth of +9.3%.. What exactly are e-sport games? 15 Shocking Workplace Violence Statistics, Criminal Record Statistics That Can Shock You In 2021, White-Collar Crime Statistics That You May Not Know About, 17+ Burglary Statistics That Will Shock You in 2021, 29 Astonishing Robotics Industry Statistics You Should Know in 2021. Till next time! It is reported that there are 456 million viewers who watch games online, and a large chunk of them aren’t even gamers. Videogames are a bigger industry than movies and North American sports combined, thanks to the pandemic Last Updated: Jan. 2, 2021 at 10:27 a.m. The use of VR headsets will allow users to experience online gambling as though they were in a real-life casino in Vegas. Since then, the video game industry has taken the world by storm and its revenue is only growing. Regions with historically low internet penetration rates are now getting a taste of mobile gaming with a booming smartphone market, decreasing internet costs for phones, and an ever-increasing online population. Required fields are marked *. The Accenture report said the gaming sector is worth more than the combined markets for movies and music, driven by gains in mobile gaming and an… Granted that doesn’t have any immediate impact within the game you’re playing, but it might change how you play games in the future. There’s a light at the end of the tunnel – the anticipated release of Sony’s PlayStation 5 and Microsoft’s next-gen console by the last quarter of 2020. This is because. Seems like the new generation prefers actually partaking in the action, not just watching it on the screen. With lots of big names like Google, Microsoft, NVIDIA, etc. With the increase in technological innovations, the gaming industry is expected to have a bright future. Many suffered due to COVID-19. Netflix’s chief executive Reed Hastings even admitted he sees Fortnite as bigger competition than HBO. The video game industry revenue is forecast to reach $180.1 billion in 2021. Did you know that the gaming industry right now is bigger than movies and music combined? Granted, some mobile games are extremely fun even without spending a bunch of money. Okay, now that you’ve seen the latest data, let’s check out the industry chronologically. Netflix’s chief executive Reed Hastings even admitted he sees, And if you’re wondering what this demographic’s. This surpasses the box office film / the movie industry revenue by an easy 4 times, AND almost 3 times the music industry has built up thus far. The global gaming industry’s value now exceeds $300 billion, says Accenture. So suit up, because we’re about to show you just how big the gaming economy has become over the past few decades. But then you take a look at GTA V, which came out on September 17th, 2013 and amassed $817.5 million dollars within 24 hours by selling over 11 million copies. Striving for the right answers? Would like to take over the world at some point, but that’s an optional dream. Overwatch and LoL leagues are even supposed to have their own venues built in the future. At the end of 2020, Esports recorded net revenue of $947.1 million. From tabletops to virtual reality, how we play games is changing with the times. Their part of the market share is expected to grow by 59%. … Puzzles, arcades, simulations, lifestyle, and bingo-like games are all the craze. Read The gaming industry inspires innovation by constantly pushing the boundaries of what’s possible, driving companies like Google and Microsoft to … I had amazing moments playing them and that's why I became a game developer, to create amazing experiences for the players. This began in 2019, mostly in gaming companies that deal with casual and hyper-casual games. This timeline presents a forecast of the value of the global video game market from 2012 to 2021. Devoted my whole life to words - reading, writing and trying to be original on social media. How about we now proceed to clear the stage for some of the lesser-known names? Your email address will not be published. Right behind is Japanese giant Nintendo, with a 64.73 billion market cap as of March 2021. Today, the average mobile gamer spends approximately 3 hours and 44 minutes online on their smartphone, playing games. At least if you are... Hi there, I'm Jacob.I have a huge passion for video games and have been playing them as long as I can remember myself.I have been working full time in game development\desgin\programming since 2014 and ran a startup company\game studio for 3 years.I'm here to give you the best information I can on gaming and game development. They are responsible for FIFA and Star Wars games. Which made us ask ourselves – how much is the gaming industry worth? According to gaming industry stats, the Asia-Pacific gaming revenue is estimated to amount to over $174 billion by 2021. link to Top 15 Monitor Light Bars Under $25, $50, $100, $150, link to Top 20 Budget Gaming Chairs Under $100, $150, $200, and $250. The value of the gaming industry has topped $300 billion following a pandemic-fueled surge, with some 2.7 billion players worldwide, a research report says. The $120 billion gaming industry is going through more change than it ever has before, and everyone is trying to cash in. As long as I can remember myself I always enjoyed video games. The video games market could become a $300 billion industry by 2025, with the growth of mobile gaming and innovative offerings, like cloud gaming, according to a new report from GlobalData. [+22 Powerful Stats], Sony Interactive Entertainment’s estimated, To keep you up to date about the recent happenings in the industry, we have compiled some of the best statistics on the, show that the industry is forecast to grow at, Reports show that the video game industry revenue was, This will result in an expected market volume of, two of the big shots in the industry) are, As of the end of the year, it had generated a revenue of. France 24 - Washington (AFP) The value of the gaming industry has topped $300 billion following a pandemic-fueled surge, with some 2.7 billion players worldwide, a research report said Thursday. PC games are predicted to generate $32.3 billion in profits in 2021 and to have 19% of the global games market. Animal Crossing: New Horizons is the top in Japan in 2020. Register for the AI event of the year. This is because video game trends suggest a 90% growth in the audience. Your email address will not be published. Gaming is no longer tied to PCs. According to The American Gaming Association (AGA), the gambling industry in the US is worth $261 billion and supports 1.8 million jobs in 40 states (); however, gambling has had a difficult (and illegal) history in the USA and it is just up until now that the path is being cleared.. Several anti-gambling laws have been in place since the great depression and gaming has been heavily … We’ve already established that mobile gaming is taking over the world. Netflix in its quarterly earnings report for January 2019 stated that Fortnite may be a bigger threat to its business than HBO. gamingshift.com is a participant in the Amazon Services LLC Associates Program, an affiliate advertising program designed to provide a means for sites to earn advertising fees by advertising and linking to Amazon.com. To keep you up to date about the recent happenings in the industry, we have compiled some of the best statistics on the video game industry revenue for 2020. The global video gaming industry is expected to be worth roughly $159 billion in 2020. In 2020, video game players will spend up to $4.5 billion on VR gaming or immersive gaming. Sony Interactive Entertainment is the rich kid of the video game companies. Simply put, China is the biggest games market in the world. if(typeof __ez_fad_position != 'undefined'){__ez_fad_position('div-gpt-ad-gamingshift_com-leader-2-0')};Even when you go all the way back to 2012, industry experts were speculating that the amount of time spent on mobile apps was beginning to exceed TV viewing times. The video game industry is growing so fast that some believe it will reach over $300 billion by 2025. In just a few short decades, the world of online gaming has exploded in popularity. There was a huge video game industry growth in 2019 and 2020 due to the pandemic. This can be attributed to the spread of cheap smartphones (Oppo in China for example), and increasing net penetration in these lesser developed regions such as Latin America, Indonesia, etc. With billions of dollars in profit and over … Reports indicate that the eSports company has shown keen interest in the growth of the Singapore gaming market. Although not too far off from expert predictions, it is still a bit disappointing. As of the end of the year, it had generated a revenue of 40.8 billion U.S dollars. It marked a 10.7% growth between 2016 and 2017 and then 10.9% between 2017 and 2018. To put things in perspective, when Avengers: Infinity War released on April 27th, 2018 it set a record for the best opening box office for any movie until that point with $257,698,183 on opening day. In the majority of mobile games, the focus is placed on user retention through tedious gameplay mechanics where you are locked out of progression for extended periods of time by the game unless you spend real-world money. They have created some of the most popular video games, including Animal Crossing and Mario Cart. are showing that the industry is likely to reach a revenue value of, of the global games market. We asked Yoda to tell us how much the casual gaming industry’s worth is. is forecast to reach $180.1 billion in 2021. Gaming industry stats show that the industry is forecast to grow at a rate of 9.17% from 2020 to 2025. High-speed internet is much more accessible now, and mobile gaming is more popular than ever with cheaper smartphones. Today, 4 out of 10 people surveyed admit to an interest in gaming, and it appears to be most popular among the demographic of males aged 16 to 24 years old (64% of males in that age group show interest in gaming). The Accenture report said the gaming sector is worth more than the combined markets for movies and music, driven by gains in mobile gaming and an emphasis on making … We never thought we’d get those numbers when researching how much the gaming industry is worth. How much is the gaming industry worth? It was a stepping stone and it had to prepare the world for what was to come – the video game mania. Well, she’s not the only one. Video gaming is multi-billion-dollar industry enjoyed by consumers around the world. About 56 percent of these viewers use their mobile devices to stream content. Games for smartphones are more monetized than ever before, and that can be a good or bad thing depending on how you look at it. Currently, in 2019, the gaming industry is speculated to be worth $151.9 billion. GTA V has made over 6 billion dollars in revenue until now, which is higher than the GDP of many nations such as Liberia, Barbados, Grenada, Djibouti, etc. With advertising becoming a very important source of revenue for gaming companies, many game studios aligned their marketing and monetization units into one single team. After all, the indie gaming market deserves its 5 minutes of fame too. but we still speculate that with physical and digital sales combined the movie industry is still much smaller than gaming, which has only grown bigger since 2014.if(typeof __ez_fad_position != 'undefined'){__ez_fad_position('div-gpt-ad-gamingshift_com-large-mobile-banner-2-0')}; In the UK, video games account for half of all entertainment revenue according to figures released by the Entertainment Retailers Association.
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