2020 was an extraordinary year for the video game industry in many ways. While many people have been forced to stay home, gaming has proven to be a suitable hobby. It has also enabled many of us to maintain social bonds during this difficult time. This resulted in flattering numbers for the industry, which Visualcapitalist estimates grossed around $ 170 billion last year.
The market analysis company Newzoo has just published its forecast for 2021. According to experts, the global game market should bring in around $ 175.8 billion in 2021. This means a decrease of 1.1% compared to our own estimates for the last year. In detail, mobile games are expected to bring in a total of $ 90.7 billion. The PC ecosystem will sustain 35.9 billion and, thanks to the various consoles, 49.2 billion.
Optimism remains largely in order for the future
This stagnation is explained in particular by the lack of electronic chips, which hinder the sale of consoles and computers to the general public. We can also see that teleworking causes delays in some games.
On this subject, Tom Wijman, the author of this study, specifies:
Game offerings for next generation consoles have been impacted by the pandemic and will continue to be suspended for the remainder of the year. Many titles have already been postponed to the second half of the year or even to the year 2022. The negative impact is also affecting hardware, as the global chip shortage means a lack of power for many consumer electronics devices, including next-generation consoles and the components needed for high-end PC gaming. As with game release delays, we expect the lack of hardware and components to negatively impact consumer spending on PC and console games.
Don’t panic, the market will remain very profitable in the coming years and the authors expect annual sales of 200 billion in 2023. With these good numbers, the gaming sector should therefore remain very dominant in the industry. Entertainment industry.