Global PC and console gaming revenues fell 2.2% in 2022
Despite the decline in PC and hardware sales over the past year, the PC and console gaming market remains highly profitable for developers. Over the course of the year 2022, several major titles were released for platforms such as PC, Xbox, PlayStation and Switch, among which stand out Total War: Warhammer 3, Elden Ring, Hitman 3, Ghostwire: Tokyo, God of War, and the hit indie title Stray. All in all, the PC and console gaming sector remains a thriving industry, offering great opportunities for hardware vendors and game developers.
In the 2023 report From market intelligence firm Newzoo, several interesting facts about the state of the global PC and console gaming industry are revealed. According to the report, Total gaming revenue in 2022 reached $92.3 billion, down 2.2% from 2021.
Missing major game releases in 2022
Console games accounted for 56.2% of revenue, PC titles, both physical and digital, accounted for 41.3% of the market share. The final 2.5% were PC browser games.
The US was the world’s largest gaming market in 2022, with revenue of USD 31.2 billion and 34% of global sales. The Asia-Pacific region ranked second with spending of $30.2 billion, representing 33% of global revenue. Europe was the third largest market with $24.3 billion in gaming revenue, accounting for 26% of the global market.
Overall, the US and China were the two largest gaming markets globally, accounting for almost half (48%) of total global PC and console revenue.
The game market falls in 2022
One of the most relevant conclusions of the report is that the average game time on Steam, Xbox and PlayStation decreased by 23% between the years 2021 and 2022. Despite this, the report suggests that this drop is more of a “natural correction” As people began to move to a normal life after the pandemic. In short, the report reflects a change in the behavior patterns of video game users, who have experienced a reduction in their playing time.
One of the main reasons for the reduction in revenue last year was the postponement of several major launches due to remaining hurdles from the pandemic. However, the industry is expected to get a huge boost this year with the release of several major games like ‘The Legend of Zelda: Tears of a Kingdom’.
The report also noted that more AAA and AA publishers are switching to the subscription model, as companies choose to release fewer titles and instead focus on extending the life of the publishers. existing franchises, such as Fortnite, Minecraft and ROBLOX.
The last relevant point that the report highlights is the growing gender equality in the video game industry. Although PC and console games have traditionally been dominated by male gamers, there has been a positive trend towards more female inclusion, indicating that more and more women are spending time and attention on video games. According to the report, 40% of all players in the last year were women, reflecting an increasingly gender-equitable market.