The video games industry is on course to generate just shy of $135 billion in 2018. With billions of dollars in profit and over 2.5 billion gamers around the world, we can expect. When the PlayStation 4 and Xbox One gaming consoles hit shelves in 2013, the global video games market was estimated to be above $75 billion. Fast-forward to today, the video game industry has evolved into a global juggernaut, estimated to be worth more than $300 billion, according to a report by global professional services firm Accenture. The world's 2.7 bn gamers (i.e., 34.6% of the world population) spent US$ 174.9 bn on games in 2020 (US$15.6 bn higher than Newzoo's early 2020 estimates), according to the October update by market researcher Newzoo. open structure play, programmer games, handheld devices, more advanced home console systems. A number of events accelerated the video game industry's growth last year. The average age of a "gamer," that is, someone who plays video games on a regular basis . Video Gaming is a multi-billion industry that is growing exponentially. . When the PlayStation 4 and Xbox One gaming consoles hit shelves in 2013, the global video games market was estimated to be above $75 billion. How does a video game monetize the hours you spend playing it? In 2021, the gaming market was worth USD 198.40 billion, and by 2028, it is expected to be worth USD 339.95 billion, growing at an annual rate of 8.94 percent. China is the largest, highest grossing and the most . Global videogame revenue is expected to surge 20% to $179.7 billion in 2020, according to IDC data, making the videogame industry a bigger moneymaker than the global movie and North American sports. Greenberg said Fortnite, in particular,. According to market research firm The NPD Group, COVID helped propel U.S. video game sales to a record $56.9 billion in 2020, a 27% increase over the previous year. Video gaming in China is a massive industry and pastime that includes the production, sale, import/export, and playing of video games. Video game trends show that the industry is likely to reach a revenue value of $295.63 billion in 2026. . If I wasn't busy building my businesses, I would spend some time on claiming my piece of the action. Video Games' Status Grows in 2020. This is more than the markets for movies and music combined. You can skip our detailed analysis of the video game industry's outlook for 2021 and some of the major growth catalysts for video game stocks and go directly to the 5 Fastest Growing Video Game . Two memorable companies did this: Chex Mix and Burger King. Revenue from Free to Play games amounts to over 85% of all game revenue. Today, the $138 billion video game industry includes computer games, dedicated gaming consoles, and mobile. The first is the ongoing growth of video game live-streaming. In 2019, the film industry reached $100 billion for the first time in history, while in 2020, the combined sports revenue in North America was over $75 billion - in the same year, the gaming industry generated revenue of nearly $180 billion. As an industry, video games generated $119.6 billion in . It seems like the growth of the popularity of video games won't stop soon. Despite having to endure those challenging, yet tedious aspects of game development, being the creator and the player of the games can take an avid gamer as far as their . And the second is the continued market share expansion of mobile . Razer. Key Statistics on Video Gaming Industry - Editor's Choice. This trend toward interactive—and often social—entertainment . The success of the game is another sign that the video game industry is becoming increasingly mainstream, O'Shea said. While 1.1% isn't that big of a drop, it will be the first time that the revenue curve will dip . According to a report by game and esports data firm Newzoo (via VentureBeat), the market is expected to hit $175.8 billion in 2021, a 1.1% drop as compared to 2020's $177.8 billion.. none. Digital gaming is one of the world's fastest growth industries — up 26 percent last year, even with the economic slowdown — and it is no surprise that where there is money, there are lawsuits. Video games have transformed remarkably over the years and the market has evolved to reflect this transition. The average growth of the industry from 2015-2020 is 14.7%. Paul Sage, Creative Director, Borderlands 3: [By 2030 . The world witnessed this technological evolution from Atari to PS5 and from arcade games to lifelike games such as The Witcher 3. The gaming industry has grown by leaps and bounds since the turn of the millennium, with advancements in technology playing a huge role in the growth. Collecting has always . Activision Blizzard, Inc. (NASDAQ:ATVI) is the largest pure-play gaming stock on the market with brand names such as Call of Duty, Warcraft, Diablo and Overwatch under its belt. Over the past decade, gaming has evolved into a complex experience that includes dynamic forms of playing, viewing content and interacting with other users. The Early Years Over 2.6 billion people play video games around the world. In 2020, the gaming industry generated $155 billion in revenue, By 2025, analysts predict the. In . For example, there was a 30% increase in the number of gamers in the U.S. the action must take place interactively on a screen. There are dozens of careers in the fast-growing video game industry that contribute to quality game production. The video game industry is a rapidly growing market. The gaming sector has been growing by leaps and bounds, and its connection with the crypto industry is becoming increasingly stronger. Thus, the video game industry is expected to grow from approximately $125 billion in revenue globally in 2018 to $300 billion by 2025, fueled by 2.5 billion anticipated players worldwide. The rising prize pools of video game tournaments and the popularity of streaming personalities are just a couple of the signs of this growth. Yes, the game industry is growing. Is the video game industry growing? Global Esports industry is growing at the rate of 30% year-over-year. Core gamers . And there's two trends that video game investors should be following. It's no surprise that companies want a piece of the pie. The video game sector is larger than the movie and music industry combined, and it is only growing. Beginning in 1979 the video game industry would enter an unprecedented boom period with both consoles and arcades reaching huge audiences all around the world. The video game industry is projected to keep growing and enterprising minds surely are thinking of how they can attach themselves to this growth. 2 Even before COVID-19, Deloitte's survey found a quarter of consumers ranking playing video games as one of their three favorite entertainment activities. However, the gaming industry has changed from single player games to online free to play games. So, continue reading to take a look back at the rise in fame of the video game industry. The video game industry is developing a winner-take-all dynamic. The global video-game streaming market is predicted to grow by 27% a year between 2018 and 2026, according to Zion Market Research, surging from about $800 million in annual sales in 2017 to north . The rapid advancement of technology has made video games available to the masses, and this industry has become one of the fastest growing segments in the global media and entertainment market. Microsoft says there are more than two billion gamers around the world, and they're all a part of a rapidly growing global community. The growing importance of in-game identity and customization; Fusion of digital and real worlds; . The rise in popularity of online play allowed several players to meet their peers without traveling to distant lands. The association's report shows the state's employment in the video game industry grew at an annual rate of 15.2 percent between 2013 and 2015 generating over $113 million in revenue. That's bad news for gamers. . 1996: Chex Mix, Chex Quest In 1996, when children began playing video games on their parents 'computers, Chex decided to delight the young audience by putting the game on a CD called Chex Quest at . In the third quarter overall, industry consumer spending hit $11.2 billion, an increase of 24 percent compared to a year . Video game is one of the fastest blooming industry, it is expected to reach $300 billion in revenue by 2025. (NPD Group, 2020) In arcades, games like Galaxian and . With billions of dollars in profit and over 2.5 billion gamers around the world, we can expect video game platforms to continue developing in 2020. . But the reality was a bit different. The Gaming Market was valued at USD 198.40 billion in 2021, and it is expected to reach a value of USD 339.95 billion by 2027, registering a CAGR of 8.94% over 2022-2027. The rise in popularity of online play allowed several players to meet their peers without traveling to . Video game sales and industry revenue growth in 2020 suggest the pandemic is surging the trend. The rising prize pools of video game tournaments and the popularity of streaming personalities are just a couple of the signs of this growth. The video game industry is maturing—fast. Since the era of Game Boy by Nintendo and Snake by Nokia, video games have evolved to become a dynamic form of entertainment appreciated worldwide. The latest numbers are up $7.1 . Video Game Industry Revenue The pandemic created demand for both video game consoles and cloud gaming. Yes, the game industry is growing. There are over 2.2 billion mobile gamers. A growing number of video game developers are based in Ukraine or have outposts in the country. The global video game market size was valued at USD 195.65 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 12.9% from 2022 to 2030. Last year, Apple ranked third on the list of top public companies that generate the most revenue from video games, according to industry researcher Newzoo. The gaming market will continue to grow and the strongest growth will be seen in the segment of players 35 - or even 40 years - and up. The global video games industry revenue has been forecasted to shrink in 2021 for the first time in many years. The Link Between the Video Game and Crypto Industries Is Growing Stronger. (IBISWorld, 2020) Consumer spending on gaming content in the US in the Q2 of 2020 reached $1.02 billion for content. For example, there was a 30% increase in the number of gamers in the U.S.

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