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Console Gaming Revenue To Grow By 8.4% In 2022

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The ongoing year will be a good one for most related to the console-gaming industry. According to the figures presented here by SafeBettingSites.com, Console gaming is set to grow by 8.4% YoY in 2022. Thus, the console gaming segment is set to witness the most significant spurt of growth in the entire gaming industry in 2022. 

Console games to bring in $58.6Bn in 2022

Source: Newzoo

According to the Newzoo report, Smartphone games are set to continue to be the biggest source of income for video game developers. However, console games will witness the most considerable improvement in revenue among all game segments.

In 2022, console games are expected to make $58.6Bn in revenues – an impressive year on year improvement of 8.4%. In comparison, Smartphone games are set to bring in $91.4Bn, but only with a year on year gain of 5.7%.

The expected growth in console gaming is even more impressive due to ongoing supply chain issues. The new generation of consoles, primarily PlayStation 5, is not readily available in most markets, depriving a considerable share of gamers of owning these consoles.

The growth in console gaming this year would be down to the release of some much-awaited games, an increasing new-gen base, and Sony’s soon-to-be-launched PlayStation Plus plans.

In terms of market share, mobile games are set to earn 45% of the entire gaming revenue in 2022. In comparison, the income from console games should make 28.8% of the whole revenue.

The tablet gaming segment is expected only marginally to improve at 1.2% yearly growth. It is set to be worth $12.1Bn in 2022 – 6% of the entire market.

Downloaded or Boxed PC games make up the third most significant share of the gaming industry. In 2022, this segment of games is set to make $38.7Bn in revenue, according to the estimates. This amount would constitute 19% of the entire market. Downloaded/Boxed PC games would see a decent growth of 3.2%.

The report’s projected revenue for Browser PC games makes for an exciting read. This report further confirms the ever-decreasing popularity of these games. The revenue from Browser PC games is set to decrease massively by 16.9% in 2022. The overall revenue from Browser PC games is expected to be $2.3bn this year – just 1% of the overall market.

Vyom Chaud

Vyom Chaud left his IT job to follow his love for soccer. He has been writing about the beautiful game for the last 6 years contributing articles to The Daily Mail, Vocal, Fan Sided and many other publications. He can spin stories with numbers and thinks data is beautiful. An avid Arsenal fan, he spends most of his time dissecting the nuances of the game. He has played football, cricket and badminton at an amateur level.