With more than $180 billion, it was one of the world’s top-earning industries in 2021.
Newzoo, the analyst agency dedicated to analyzing the technology and video game industries, has generated a report of the video game industry’s revenues, as they have done in recent years, and this 2021 has generated an overwhelming amount of 180,300 billion dollars, a 1.4 percent increase in revenue compared to 2020.
An improvement compared to 2020.
Despite the fact that last year was projected to be one of the lowest income years of the decade owing to the pandemic, it was a surprise strong revenue year. This is due to an increase in income from gamers and new individuals who found themselves with more free time and wanted to get their hands on games and consoles, as opposed to 2021.
According to Newzoo’s official website, the video game industry will earn a total of $180.3 billion in 2021, representing a 1.4 percent increase in consumer expenditure over last year. The markets with the biggest percentage of revenue are mobile and console, with mobile accounting for 52% of total revenue.
Surprisingly, the cloud gaming services industry has expanded this year. With the introduction of services such as Xbox Game Pass, Google Stadia, and GeForce Now, the global population of gamers has risen to 3 billion individuals. In short, it represents a 5.3 percent rise in participants over previous year, with Asian players accounting for 55 percent of the total.
Overall, the video game industry has had a successful year. Despite the absence of huge franchise titles such as those released in 2020, it was a very beneficial transition year for the industry. With what is planned and stated for 2022, revenue is likely to more than quadruple in 2022 compared to 2021.