The Latest Game Development Industry Statistics Explained
The global video game market size was valued at USD 162.32 billion in 2020.
The statistic stating that the global video game market size was valued at USD 162.32 billion in 2020 represents the total revenue generated by the video game industry worldwide within that specific year. This figure encompasses sales from various segments within the video game market, including console games, mobile games, and PC games. The substantial market valuation underscores the significant growth and popularity of video games as a form of entertainment, as well as the increasing impact of digital distribution platforms and online multiplayer gaming. Additionally, the statistic serves as a key indicator of the industry’s economic importance and its potential for further expansion in the future.
The market is expected to grow with a CAGR of 12.9% from 2020 to 2027.
This statistic indicates that the market is projected to experience compound annual growth at a rate of 12.9% between 2020 and 2027. Compound annual growth rate (CAGR) provides a smoothed annual growth rate over a specified period, in this case, seven years. A CAGR of 12.9% suggests that the market is expected to steadily increase in size each year at this rate. This growth rate can be used by stakeholders to assess the overall growth potential of the market and make informed decisions regarding investments, expansion strategies, and market trends over the specified time period.
In 2020, the United States generated game revenues of approximately 37 billion US dollars.
The statistic states that in 2020, the United States saw game revenues totaling around 37 billion US dollars. This figure indicates the amount of money generated by the gaming industry within the United States throughout the year. The statistic likely includes revenues from various sources within the gaming sector, such as video game sales, in-game purchases, and subscription services. This hefty revenue figure illustrates the significant economic impact of the gaming industry within the country, emphasizing the growing popularity and profitability of gaming as a form of entertainment.
As of 2021, China was the largest games market in the world with a revenue of 41 billion US dollars.
The statistic indicates that China held the title of the largest games market globally in 2021, generating a revenue of 41 billion US dollars. This data point highlights the significant economic impact of the gaming industry in China, showcasing the country’s position as a key player in the global gaming market. The substantial revenue figure underscores the immense popularity and growth of the gaming sector within China, with a wide range of factors such as the large population of gamers, increasing disposable incomes, and expanding digital infrastructure contributing to this achievement. Additionally, this statistic suggests the competitive nature of the gaming industry, not only within China but also on a global scale as countries strive to capture a share of the lucrative gaming market.
The number of active video game developers in the US was about 77,000 in 2020.
The statistic stating that the number of active video game developers in the US was approximately 77,000 in 2020 indicates the total count of individuals and entities within the country engaged in the development of video games during that year. This statistic reflects the robust and flourishing nature of the video game industry in the US and highlights the significant presence of developers contributing to the creation and innovation of video games. The figure serves as a key indicator of the scale and impact of the video game industry on the economy, job market, and entertainment landscape in the US, showcasing the diverse talents and expertise involved in producing interactive digital entertainment experiences.
Mobile gaming generated over 44% of the games market in 2020.
The statistic “Mobile gaming generated over 44% of the games market in 2020” indicates that mobile gaming, which includes games played on smartphones and tablets, accounted for a significant portion of the overall gaming industry revenues for the year 2020. This statistic highlights the growing popularity of mobile gaming and its market dominance compared to other forms of gaming such as PC or console gaming. The data suggests that consumers are increasingly turning to mobile devices as their preferred platform for gaming, likely driven by factors such as convenience, accessibility, and the wide variety of gaming options available on mobile platforms. As a result, stakeholders in the gaming industry may need to pay special attention to the mobile gaming sector in order to stay competitive and capitalize on this trend.
It is predicted that AR and VR market in gaming will reach 286.63 billion USD by 2026.
The statistic ‘It is predicted that the Augmented Reality (AR) and Virtual Reality (VR) market in gaming will reach 286.63 billion USD by 2026’ implies a forecasted significant growth in the AR and VR gaming industry over the coming years. This projection suggests that the demand for AR and VR technologies in the gaming sector is expected to soar, leading to a substantial increase in market size and revenue generation. Such exponential growth may be driven by advancements in technology, increasing consumer interest in immersive gaming experiences, and a growing market for AR and VR applications across various industries. This statistic highlights the potential for substantial investment opportunities and economic impact within the AR and VR gaming market in the near future.
The PC sector of game development was expected to have generated 36.9 billion U.S. dollars in 2020.
The statistic indicates that the PC sector of game development was projected to have contributed substantially to the global gaming industry’s revenue in 2020, with an estimated total of 36.9 billion U.S. dollars. This figure suggests that PC gaming, which encompasses games played on personal computers, laptops, and other computer devices, remains a significant and lucrative segment within the gaming market. The substantial revenue generated by the PC sector highlights the continued popularity and growth of PC gaming, with a wide range of games catering to diverse audiences contributing to the sector’s financial success. Additionally, this statistic underscores the economic importance of the PC gaming industry on a global scale and its potential for further expansion and innovation in the future.
Estimates show that by 2023, online gaming will constitute over $200bn in profits.
This statistic indicates that the online gaming industry is rapidly growing and projected to generate significant profits by 2023. The estimated figure of over $200 billion suggests that online gaming has become a lucrative sector, with a large consumer base willing to spend money on games, virtual goods, and related services. The statistic implies that the online gaming industry is not only popular but also financially successful, attracting investments and driving economic growth. As the demand for online gaming continues to rise, it is expected to contribute substantially to the overall global economy in the coming years.
There are over two billion video gamers across the planet.
The statistic “There are over two billion video gamers across the planet” signifies a significant and widespread participation in gaming activities worldwide. This number reflects the growing popularity and accessibility of video games as a form of entertainment and cultural phenomenon. With advancements in technology and the proliferation of gaming platforms, an increasing number of individuals of various demographics are engaging in gaming activities. This statistic highlights the global impact of the gaming industry and emphasizes the widespread reach and influence of video games on a diverse and expansive audience.
In 2020, 64% of U.S. adults said they played video games.
The statistic “In 2020, 64% of U.S. adults said they played video games” suggests that a significant majority of adults in the United States engaged in playing video games that year. This indicates a widespread acceptance and adoption of gaming as a form of entertainment or leisure activity among the adult population. The statistic reflects the growing popularity and accessibility of video games, potentially fueled by advancements in technology, changes in gaming platforms, and the expansion of the gaming industry. Additionally, it may also point towards a shift in societal attitudes towards gaming, with more adults incorporating it into their daily lives for various reasons such as relaxation, social interaction, or stress relief.
The global esports market was valued at nearly $958 million in 2020.
The statistic that the global esports market was valued at nearly $958 million in 2020 indicates the significant size and economic impact of the esports industry. This figure demonstrates the growth and popularity of competitive gaming activities worldwide, with revenue generated from various sources such as sponsorships, advertising, media rights, and merchandise sales. The impressive market value suggests a strong and thriving ecosystem surrounding esports, attracting investments and partnerships from businesses looking to capitalize on the rapidly expanding audience and engagement with competitive gaming events.
The average video game developer salary in 2020 was $83,286.
The statistic that the average video game developer salary in 2020 was $83,286 means that when all individual salaries of video game developers in 2020 are combined and divided by the total number of developers, the resulting average salary is $83,286. This figure gives an indication of the typical income received by video game developers in that year and can be used as a benchmark for understanding the earning potential in the industry. It is important to note that this average salary may vary depending on factors such as experience, location, specific job role, and company size.
The game engines market is projected to grow from $2.8 billion in 2020 to $6.3 billion by 2025, at a CAGR of 17.6%.
The statistic indicates that the game engines market, which was valued at $2.8 billion in 2020, is expected to nearly double in size to $6.3 billion by 2025, representing a Compound Annual Growth Rate (CAGR) of 17.6%. This significant growth rate suggests a strong and steady increase in the demand for game engines over the forecast period. Factors such as the rising popularity of video games across various platforms, increasing investments in virtual reality and augmented reality technologies, as well as the growing preference for high-quality gaming experiences are likely to be driving forces behind this projected expansion. Companies operating in the game engines industry may benefit from these trends and the overall growth potential of the market.
44% of the global game industry workforce is composed of independent developers.
The statistic “44% of the global game industry workforce is composed of independent developers” indicates that nearly half of the individuals working in the game industry worldwide are independent developers who operate outside of traditional game development companies. This suggests a substantial presence of self-employed or freelance individuals who create games independently or collaborate on projects without direct affiliation with a specific game development studio. This high percentage reflects the growing trend of independent game development facilitated by technological advancements, accessible development tools, online distribution platforms, and a desire for creative independence among game developers. It signifies a significant aspect of the diversity and dynamism within the game industry’s workforce.
Approximately 80% of the world’s population have access to a smartphone, meaning potential access to mobile games.
The statistic that approximately 80% of the world’s population have access to a smartphone suggests that a substantial portion of global inhabitants can potentially engage with mobile games. This widespread accessibility points to the increasing prevalence of smartphone technology across various regions and demographics. With such a significant percentage of individuals having smartphones, the potential reach and market for mobile games are vast. This statistic underscores the opportunity for game developers and businesses to tap into a large and diverse audience for their mobile gaming offerings, highlighting the potential for significant engagement and revenue generation in the mobile gaming industry on a global scale.
By 2023, there will be about 16 million players participating in virtual reality gaming worldwide.
The statistic ‘By 2023, there will be about 16 million players participating in virtual reality gaming worldwide’ predicts a significant increase in the number of individuals engaging in virtual reality gaming by the year 2023. Virtual reality gaming, which immerses players in a digital environment through the use of specialized equipment, has been growing in popularity due to advancements in technology and the availability of VR devices. The projected 16 million players participating globally indicates a growing trend towards immersive gaming experiences and suggests that virtual reality technology is becoming more mainstream and widely adopted by gaming enthusiasts around the world.
It’s estimated that player spending in mobile games will surpass $100 billion in 2021 worldwide.
The statistic states that player spending in mobile games is projected to exceed $100 billion globally in the year 2021. This figure represents the total amount of money that players are anticipated to spend on in-game purchases, virtual goods, subscriptions, and other related transactions within mobile games across various markets worldwide. The significant growth in mobile gaming spending can be attributed to several factors, including the increasing adoption of smartphones, the popularity of mobile games as a form of entertainment, and the emergence of various monetization strategies employed by game developers. This statistic underscores the lucrative nature of the mobile gaming industry and highlights the substantial economic impact of player spending within this sector on a global scale.
Conclusion
The statistics presented in this blog post highlight the remarkable growth and potential of the game development industry. As the demand for interactive entertainment continues to rise, game developers have a wide range of opportunities to tap into this evolving market. By staying informed about the latest trends and data in the industry, developers can make informed decisions that will drive their success in this dynamic and competitive field.
References
0. – https://www.www.statista.com
1. – https://www.www.pewresearch.org
2. – https://www.techcrunch.com
3. – https://www.www.pcgamesinsider.biz
4. – https://www.sensortower.com
5. – https://www.www.gamesindustry.biz
6. – https://www.www.fortunebusinessinsights.com
7. – https://www.www.marketsandmarkets.com
8. – https://www.www.grandviewresearch.com
