The video gaming industry is set to cross a significant landmark in 2022. According to the numbers presented in this report by SafeBettingSites.com, the gaming industry will bring in more than $200 billion in revenues for the first time in 2022. The United States and China would continue to be the biggest gaming markets and account for half of the global revenue.
Asia-Pacific to generate $96.3Bn
According to the latest report on Global Gaming by Newzoo, the global gaming industry will earn $203.1Bn in revenues in 2022. This would be the first time when the industry crosses the $200Bn mark in its history. In 2021, the industry brought in $192.7Bn in revenue. Thus, the industry is expected to increase by 5.4% Y-O-Y in 2022.
Asia-Pacific is expected to be the most significant region with $96.3Bn in revenues, followed by North America at $54.3Bn. However, the United States should retake the throne of the biggest national market with $50.4Bn in revenues. China will closely follow the United States with $50.2Bn in revenues. According to the report, the switch between positions is down to the government crackdown on Gaming in China. Regardless, it is interesting to note that both countries are expected to generate more than $100Bn together, accounting for half of the global revenue.
Europe should generate $36.3Bn in revenue, followed by Latin America at $8.9Bn and Middle East & Africa at $7.2Bn. The Latin America and Middle East & Africa regions are the smallest contributors to the revenue, but they are also the only regions expected to display double-digit growth. The Middle East and Africa market is expected to grow by 12.9% in 2022, and the Latin American market by 10%. The growth in these regions is down to the increasing availability of smartphones. In contrast, the Asia-Pacific market should grow by only 3.4%.
The North American market is predicted to grow by 6.6% and the European market by 6.3%. The growth in these regions is majorly attributed to growth in console and PC segments.
Vyom Chaudhary, an editor at SafeBettingSites, commented: “The gaming industry is set to witness an all-round growth in 2022. All geographical regions are set to grow Y-O-Y, with this growth coming from multiple segments. The mobile gaming is set to witness another spurt of growth in emerging markets whereas console and PC gaming are set to grow in traditional markets.”