Back when your mom hadn’t yet turned into a planet with her own orbit, some physicist (of all people) created a machine in which you could play Tennis but without actually getting up and look where we are now!
After Ping Pong on Magnavox in the 70s came Mario for NES in the 80s then PS1 arrived, PS2 created a house need for gaming consoles on a global level and then Smartphones happened.
And at this moment, video gaming industry has overtaken both movie and music in annual revenues.
Now you can let that sink in.
If you are gearing towards gaming industry either through writing, software development, marketing or with your own development studio and want to see if it’s profitable and safe to venture into.
First of all, dude where have you been living all this time? Under a Dwayne Johnson? Well, anyway, yes, gaming industry is rising like a dark knight and is super profitable.
We are compiling some of the huge gaming industry stats that will help you realize gaming industry’s worth in 2022.
Key Gaming Industry 2022 Stats to Remember
- Currently, the gaming industry is worth around $300 Billion, wowzie!
- There are like 2.9 Billion players which are active globally.
- $72.3 Billion was the revenue of The Asia Pacific gaming industry.
- In 2020 alone, players spent $4.5 Billion on VR games.
- Nintendo is at the moment the biggest video game company with a value of $85 Billion.
- Japan alone has over 70 million players.
- Razer is planning to invest $7.2 Million in Singapore
The Rapid Growth of the Gaming Industry in the Past Decade
You may also want to know what reasons are making gaming industry grow so quickly and whether they are stable or just some random will-o-wisp encounter you can’t bank upon to happen again.
Around 26% of the planet’s population is officially a gamer and so obviously the other corporate sectors may want to join this party. And with this large amount of players be assured only progress is what lies ahead.
In 2020 when the pandemic hit us, gaming industry had the total final revenue at $155 Billion, which then spiked up to $180.3 Billion in 2021.
And yes, pandemic made us all sit on our baskets and forced us to game, that is another reason why we have added 500 million more players but…
That report scanned the incoming of players not from 2020 but from 2018!
Meaning pandemic had little to do with adding such huge player numbers and the same report says we will add another 400 million by the end of 2023!
But the fundamental reasons are most possibly the arrival of game streaming, possible future involvement of non-traditional but giant corps like Meta, Google and Apple, the Technical Innovations of home consoles, smartphones and the arrival of VR/AR.
Merchandising and nostalgic game remakes are the other two big reasons.
So yeah, this spike in gaming industry isn’t a fluke but a hardcore fact which isn’t going anywhere.
How Much is the Gaming Industry Worth in 2022?
Harry Potter became a craze for a freaking decade because movies happened, the movies became such a phenomenon because the thirst for Emma and Daniel exceeded normal human capacity and –
Well, the point is there are many factors that denote how well anything can and is about to perform, some of the big statistics that foretell about 2022 gaming industry worth are –
- At present, the global gaming industry is valued at around $300 Billion!
A survey done to accumulate this number gathered 4000 players from UK, Japan, China etc. and noted that on average they played for 16 hours per week.
They saw or did game streams for around 8 hours a week and interacted with gaming communities and forums for about 6 hours a week.
This stat alone is the primary driver behind the ideal growth rate of gaming industry right now.
- Rise of the Immersive Games
Virtual Reality and Augmented Reality Games saw a huge peak in sales as gamers paid more than $4.5 Billion in 2020. The willingness to adopt the newly arrived gaming technology shows only good news for more gaming revenue.
- Streaming
Twitch, the most popular game streaming platform made $2.3 Billion in 2020 and had an average of 2.8 million concurrent viewers. It is basically a Netflix for gaming and is paving the way for subscription-based gaming application.
This is going to create a whole new division in gaming with more jobs and demands.
- Nostalgia
Did you see Spider-Man: NWH?
Spoilers ahead!
Did you enjoy your old heroes and familiar faces making a return and cried and screamed like a little child when they appeared? It is the sixth highest grossing movie ever!
Nostalgia for some reason is hitting hard all of us and gaming industry isn’t untouched, FF7R, RE2R, RE3R, God of War Reboot, Psychonauts 2, they all made a huge amount of money.
Nostalgia is a big driver and isn’t going anywhere and we have just begun with our old favorites here I assure you.
- Mobile Gaming
Ok so 1, Smartphone gamers alone made around 50% of all the gaming revenue in 2021. And 2, everyone has smartphone, some even have two and these things are no less than a laptop.
It is heavily predicted that by the end of the year 2023 we will have a $200 Billion revenue solely from mobile gaming! Talk about assurance.
- Premium Gaming
The mobile gaming market is filled with a huge number of many freemium games. And it seems everyone is welcoming it. The new age MMOs and RPGs are nestled with in game purchase options.
This says that the average gamers can and is willing to spend more on some quality mobile gaming experience.
- Powerful Hardware
Back when we were all gaming in pixels, PS1 came and sold over 100 million units. Then transition to more HD graphics in PS2 pulled in 155 million units sales!
The next generation of consoles has arrived with the release of PS5 and XBOX Series X. Both are said to be super – ultra – HD in visuals and don’t bother you with loading times.
It’s a clear roadmap why this is going to generate more revenue.
- Old and New Gamers
While the old people are not trying to play games like the new DOOM: Eternal to get an untimely heart attack. They do seem to enjoy a lot of simple casual games.
A study says that folks between 45 to 54 years old have brought in a spending increase by 76%.
As we said before, we are about to get 400 million new gamers and 60% of these new ones will be women and the other 30% will be actual people under 25 years of age.
You can easily guess how much growth the gaming industry is bound to have within these oncoming 2-3 years.
- Conventional Casters are joining E-Sports
Everybody used to laugh at little Timmy when he told them he won his local Mortal Kombat Arcade Championship. Fast forward to present and little Timmy is raking in millions in prize winnings from various E-Sports.
All thanks to the fact that the conventional casters have joined hands with the popular E-Sports (the global E-Sports audience is somewhere near FOUR HUNDRED AND FIFTY FREAKING SIX MILLION PEOPLE!) and that is why business folks around the globe want in. Easy.
- China Gaming
China is the biggest gaming revenue creator for gaming industry, it generated around $41 Billion in 2021 for overall gaming revenue making USA second at $37 Billion. It is only going to get bigger creating large gaming industry opportunities and revenue in the upcoming year.
- Razer Investment
Popular gaming company, Razer which develops some of the best gaming accessory and peripherals has decided to invest $7.2 million in Singapore’s gaming industry.
Goes to show that everyone is seeing a new market that promises nothing but growth.
- Global Players
We have 2.9 Billion players currently breathing in the world. And it is not difficult to guess that pretty soon we are crossing the 3 Billion mark.
3 billion gamers don’t assure you what the gaming industry is worth?
- DLCs and Micro-Transactions
Now personally, I don’t support DLCs that try to trick you or microtransactions that make games hard purposefully to goad you to pay up.
But it seems that in the past 7 years DLC and MT market has risen in value by almost 121%.
It is a clear upward growth in the gaming industry with no reason to stop anytime soon.
Conclusion
So, there you have it folks. If you were anxious about whether to invest in the gaming industry or not or just wanted a quick look-see, we have given you all the possible gaming industry growth facts for 2022. Thank you!
