“First of all, the market will normalize following the record-breaking months for engagement and spending we’re now in,” Wijman told GameDaily.biz. Like Hollywood, the video game industry needs to spin more revenue off of its intellectual property because the product costs a lot to make. For example, DMarket founders claim to have 10+ years of experience in virtual item trading and building in-game economy from scratch. Video Game Console industrial chain, this report mainly elaborates the definition, types, applications and major players of Video Game Console market in details. Video Game Industry Posts Record Q1 Revenue. The mobile games industry could be worth $77.2 billion … Games like Fortnite will remain central to gaming industry value, according to Juniper Research. We might see a bit more grey market movement if games are available in other countries, but even that will be limited to the hardcore few who can’t wait to play a certain game.”. This table features the top 10 games markets ranked on their revenue estimates for 2020 in descending order. (Source: We PC) Reports show that the video game industry revenue was $78.61 billion in 2017. Of the 2.7 billion total gamers projected to play in 2020, 2.6 billion will play on mobile devices. The video game industry is growing with new products and technology and could be worth nearly $138 billion by the end of the year. These estimates are based on a combination of primary consumer research, transactional data, quarterly company reports, and census data. The video-game boom caused by the pandemic is expected to send industry revenue up 20% this year to $174.9 billion, outstripping earlier forecasts and dwarfing the market’s growth in 2019. The study attributed 41% of the video game industry’s revenue to intercompany/transfer pricing, with notable emphasis on this during development cycles. Through its high investment in gaming companies like Activision, Riot, and Blizzard. The global video gaming industry is expected to be worth roughly $159 billion in 2020. The video game industry tends to shift year by year, especially in years when new consoles release. Ilker Koksal is a technology entrepreneur, having listed at Forbes 30Under30, Enterprise Technology category. Games and esports analytics firm Newzoo released its highly cited annual report on the size and state of the video gaming industry yesterday. With a growing demand for games across the world, and growing profitability in the industry, it’s no surprise that video game publishers are bringing in enormous annual revenue. The full financial reports for 2018 are not yet all available. Gamers in the first quarter (ended March 31) spent a record $10.86 billion on hardware, software and accessories, according to new data from The NPD Group. The new industry rules following a free-to-play model and the growth of subscription cloud services demand new monetization pathways from the game developers. Console gaming accounted for $52.5 billion of the total revenue generated by the gaming industry (an increase of 20% year-on-year). Every year, the Entertainment Software Association … A complete, year-by-year, sector-by-sector breakdown of global gaming industry revenue, from 1971 to present. Bigger than any pop diva. 91% of 2020's Game Industry Revenue Was Digital. Besides the consistent and impressive growth of the industry, it is interesting to note that there has been a shift in revenue sources in the gaming space lately. In August 2019, the video game industry revenue in the U.S. amounted to 666 million U.S. dollars. The video games market could be worth over $90 billion by the end of 2020. Source This is more than double the revenue of the international film industry in 2013. Way up. Hogwarts Legacy delayed to 2022. All told, the global video game market is forecast to grow 9.3% to the tune of $159 billion in 2020, according to Newzoo, a video game market research company. 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. Ranked in the top 3 international video gaming shows, this annual event welcomed 316,000 visitors in 2018 and is a showcase for the video game industry. The video game industry is growing with new products and technology and could be worth nearly $138 billion by the end of the year. In 2018, the video games market generated $131 billion, with mobile gaming outpacing revenue made by pc and console gaming. “It’ll be a challenge for games companies to retain some of the newer players, but we do expect a part of the new players to continue playing. 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