What is the forecast for the video game industry in 2023?

The global gaming market is expected to grow at a compound annual growth rate (CAGR) of 9.9% from $229.39 billion in 2022 to $252.10 billion in 2023.

What will the video game industry be worth in 2023?

Revenue in the Video Games segment is projected to reach US$365.60bn in 2023.

How big is the gaming market in 2023?

Revenue in the Games segment is projected to reach US$396.20bn in 2023. In global comparison, most revenue will be generated in China (US$110,100.00m in 2023). In the Games segment, the number of users is expected to amount to 4.33bn users by 2027.

What is the future of video games industry?

Gaming is now a bigger industry than movies and sports combined. Revenue for gaming reached $184 billion in 2022, and the number of gamers is expected to grow to 3.6 billion by 2025. It's not just kids either: 38 percent of gamers are between the ages of 18 and 34 years, and 16 percent are older than 55.

Will 2023 be a good year for gaming?

While there are few guarantees in the gaming industry, 2023 is a guaranteed great year for gamers everywhere. Whether it's meaningful remasters or reboots, ambitious sequels or intriguing indie titles, 2023 possesses a diverse list of releases.

What's ahead for the video game industry as popularity rises

What will the gaming market be worth in 2025?

It is estimated that the global gaming market will amount to 268.8 billion U.S. dollars annually in 2025, up from 178 billion U.S. dollars in 2021.

How much will gaming be worth 2025?

The worldwide gaming industry is expected to be worth more than $300 billion by 2025. According to Survey made by Enterprise Apps Today, Mobile gaming is the most popular gaming segment with annual revenue of $81.5 billion in 2021.

What will gaming look like in 2030?

In the year 2030, virtual reality and augmented reality will dominate the gaming industry. In addition to this, numerous gamers will significantly use this technology to introduce new genres to the audience.

Is video gaming declining?

In the US, spending on games fell 5% in 2022. Across Europe, game sales are down over 7%. It looks bad, but there was one very big reason for the decline: COVID-19. In 2020, when the lockdowns hit, video game sales surged.

How much will the gaming industry be worth 2030?

Gaming industry to be worth $470bn by 2030 despite setbacks, experts predict. Experts say the metaverse and virtual reality will be a driving force of growth for the gaming industry.

What will gaming be like in 2050?

Why are games declining?

The cost of living crisis means consumers will likely spend far less money on gaming hardware, software and accessories this year, according to Mat Piscatella, executive director at research company NPD Group. Together, these factors are expected to cause video game sales to decline in 2022 for the first time in years.

What will video gaming be like in 2050?

In 2050, VR gaming will be a lot more common than it is nowadays. Companies will have put years of research and effort into perfecting the VR headset, most probably looking a lot more compact than they do nowadays, would have built in sound systems, and possibly even would have fitted consoles inside the headsets!

Will video game prices continue to rise?

These on-paper price increases are unlikely to ever go away. In fact, we're likely to see even more companies follow suit on these increases in the coming months and years.

Will old Video Games go up in value?

The number of old game cartridges and discs out there will never increase. That produces a natural scarcity that, in many cases, drives up prices over a long enough period of time. Furthermore, physical media has a tendency to degrade. For instance, the screens of Game Boys fade and blur over time.

Will Video Games still exist in the future?

The future of the video game industry looks dazzling. Consumer demand is growing, technology is advancing quickly, and new monetization models are taking off. Bain's analysis forecasts that global revenue for games could grow by more than 50% over the next five years (see Figure 1).

Is the gaming industry recession proof?

Gamers are certainly more down to spend their money on virtual items these days than they were back then. But the operative word is “uncertainty”, and it's far from a sure thing that the gaming industry will be as recession-proof this time around as it was in 2008.

Is gaming losing popularity?

Though video gaming has been around for decades, it was the entertainment of choice for many during the pandemic. Average time spent gaming soared 16.5% between 2019 and 2020, from 12.7 to 14.8 hours per week, according to The NPD Group. That growth rate barely slowed in 2021, with time spent growing to 16.5 hours.

Are people buying less video games?

That isn't likely to change any time soon, but consumer spending on video games has decreased and could continue to decrease. It's been found through data that people are spending less money on video games in 2022, which may be attributed to multiple reasons.

How will gaming look like in 10 years?

In a decade or so, gaming may very well become a pastime that will become increasingly accessible to more players due to the cloud. “What will evolve is the availability of people to access these more high-end gaming experiences,” says Hou.

How much will the gaming industry be worth in 2026?

Global gaming industry will worth USD 321 billion by 2026.

Are gaming consoles going away?

Since most game consoles have a lifespan of 6.5 years, the new consoles released next year will remain in the marketplace "until at least the 2026-2027 time frame," Meloni said.

Are games becoming $70 dollars?

Xbox and Playstation titles are getting more expensive, too. $70 is becoming the new normal for major video game releases. Ever since video game titles started retailing for $60 around 2006, the cost of video game production has risen, according to Neil Macker, an analyst at Morningstar.

What is good gaming price prediction?

Good Gaming Inc quote is equal to 0.0269 USD at 2023-03-16. Based on our forecasts, a long-term increase is expected, the "GMER" stock price prognosis for 2028-03-08 is 5.636 USD.

Who is richer gaming?

Richard Tyler Blevins, better known as Ninja, is the world's wealthiest gamer. His net wealth of $17 million places him at the top of the list. Ninja is well-known for streaming Fortnite, but he has also been streaming PUBG, Call of Duty, and H1Z1 for over a decade.