The video game market has proven resilient, even as the world begins to reopen again from the Corona pandemic, as revenue continues to grow in 2022 and is estimated to reach $203.1 billion through consumer spending, representing an increase of 5.4 percent year-on-year. It is also a new record for the gaming market.
This comes as the number of gamers globally is expected to rise this year, reaching 3.09 billion by the end of the year, according to game market analysis website newzoo.
Game market revenue is estimated at $192.7 billion in 2021, up 7.6% year-on-year, according to data from more than 140 publicly listed game companies.
The United States returned to the top of the gaming market in terms of consumers, after Americans spent 50.5 billion dollars on games during the past year, ahead of China, whose citizens spent 50.2 billion dollars in 2022 on games.
The US supremacy over China last year was spurred by the Chinese government’s crackdown on gaming, which limited new game releases and playtime among the country’s youth. The market is starting to show the impact of these regulatory pressures.
However, the Asia Pacific region remains the largest region in terms of revenue by a huge margin, while the Middle East has the least global spend on games, with a share of only 4 percent at $ 7.2 billion, according to market estimates for the current year.
The analysis showed that mobile gaming will continue to generate more revenue than the PC and console gaming markets combined in 2022. Annual mobile gaming revenue will exceed $100 billion for the first time in 2022, when it is expected to grow by 5.1% year-on-year. to reach $103.5 billion.
While mobile will continue to show growth, its annual rise is significantly lower than the growth numbers in 2020 and 2021, as 2022 cannot sustain the pandemic-driven growth of previous years.
This means that the mobile market share will drop by one percentage point this year (from 52 percent in 2021 to 51 percent).
Asia Pacific remains gaming’s largest region by absolute revenue (by a large margin), but China, Japan and Korea all show low single-digit growth annually.
The gaming market will continue to grow in the following years to reach $222.6 billion in 2024, at a compound annual growth rate of +5.6% (between 2020 and 2024).