24 Video Game Industry Statistics [2022]: Facts, Trends, And Stats On The Gaming Industry

Research Summary. Advancements in technology have made gaming more accessible than ever. In fact, since the introduction of Nintendo consoles decades ago, the gaming industry has continued to grow bigger and bigger in the U.S. According to our extensive research:

• There are at least 214.4 million monthly gamers in the U.S.

• In the United States, the video game market size is estimated to be $106.8 billion in 2023.

• The global market value of the gaming industry is $365.6 billion as of 2023.

• In 2022, consumer spending on video games in the U.S. amounted to a record $56.6 billion.

For further analysis, we broke down the data in the following ways:
Platform | Demographics | Entertainment | Trends | Global

General Video Game Industry Statistics

No doubt, the video game industry has a profound effect on individual Americans, as well as the American market. Plus, the significance of the gaming industry only continues to grow. Here are some insights our research uncovered:

1. $56 billion was spent on video games in the U.S. in 2022.

   That means the average gamer spent roughly $262 on video games. This number is likely to increase.

2. The gaming industry is expected to have a CAGR of 7.17% from 2020 to 2027.

   With that in mind, the industry is predicted to be worth a considerable $482.3 billion by 2027.

3. The largest U.S. and worldwide gaming company is Activision Blizzard.

   As of January 2023, Activision Blizzard had a market value of $59.9 billion, outstripping the big names of Roblox and Nintendo. Activision is well known for titles like Call of Duty and Overwatch.

Biggest Video Game Companies by Market Cap (Billions USD)

Video Game Platform Statistics

There’s much debate and competition between gamers over which gaming platform is the best. Some say Xbox, some say Playstation, and then there’s always that one person who thinks anything but PC is inadequate. However, here’s what the facts say:

1. With 57% of the market share, mobile gaming is the largest gaming platform.

   For reference, PC gaming only makes up 24% of the market share. In fact, in North America alone, mobile gaming is worth $25.2 billion.

2. In 2022, the best-selling console in the U.S. was the Nintendo Switch.

   This is based on total units sold. Based on dollar-value, the PlayStation 5 was the best-selling console due to a higher price point.

3. As of 2020, 91% of all game sales were digital.

   More and more, the gaming industry has become a digital market. This has especially been the case throughout the pandemic, where only 9% of game sales were physical copies.

Gamer Demographics

It’s a well-known stereotype that most gamers are young males, but is this actually the case? The research shows that:

1. As of 2021, 45% of gamers are female.

   Surprised? Well, this number has been steadily increasing over time. For example, in 2006, only 38% of gamers were female. However, even this disparity is smaller than what’s stereotyped in the gaming community.

   The fact is that for over a decade, the population of female gamers has been just a little under half the male population.



2. Most gamers in the U.S. are between 18-34 years old.

   There’s another common stereotype that many gamers are kids and teens, but those under 18 only make up 20% of the gamer population. On the other hand, those 18-34 make up 38% of the gaming population, the vast majority.

3. 16% of U.S. gamers are over 55 years old.

   Though it may not be what you’d expect, there are near as many 55+ gamers as there are gamers under the age of 18.

Gaming Industry Entertainment Statistics

More and more, Americans rely on gaming-related content over film and TV for entertainment. The growth of platforms like Twitch is an example of this trend. Here are the facts:

1. In 2020, the worldwide collective of Twitch viewers watched over 18 billion hours of content.

   That’s a 40% increase from the 11 billion hours watched in 2019. No doubt, this massive uptick in hours watched on Twitch can partially be attributed to the COVID-19 pandemic.

2. As of 2020, esports is worth $1.1 billion.

   That means esports had experienced year-on-year growth of +15.7% since 2019 when the industry’s value was $950.6 million.

   Currently, the top esports teams based on earnings include Dallas Empire ($1.79 million – Call of Duty), San Francisco Shock ($1.55 million – Overwatch), and Team Liquid ($1.4 million – League of Legends, StarCraft, Dota 2, etc.).

3. Counter-Strike: Global Offensive is the largest esports game, with a total prize pool of $7.98 million in 2021.

   And this is no surprise given how this game has over 13,000 professional players worldwide. In second and third place are PlayerUnknown’s Battlegrounds and Fortnite, with a total prize pool of $7.8 and $6.12 million, respectively.

4. With an estimated revenue of $160 billion in 2020, the gaming industry has overtaken the book, music, and film industries.

   Overall, the gaming industry’s revenue has grown 10% larger than the book industry’s (at $145 billion), 74% larger than the film industry (at $42.5 billion), and 87% larger than the recorded music industry (at $21 billion).

Gaming Industry Trends and Predictions

While the current size of the gaming industry is already impressive, experts predict further growth as time goes on. Of course, as the pandemic becomes less severe, the spike in growth might reduce, but that probably won’t impact the industry’s bright future. Here are the facts:

1. From 2019 to 2020, there was a 30% increase in the number of U.S. gamers.

   Due to the COVID-19 pandemic, 2019’s 164 million U.S. gamers grew to 214.4 million in 2020.

   While this rate of growth has slowed down significantly, there are still more and more gamers every year. For instance, from 2020 to 2021, there was a 6% increase in the number of gamers.

2. Over half of the U.S. population now identifies as a gamer.

   With a population of 329.5 million, and a gaming population of 214.4 million, that means that 54% of the country identifies as gamers.

3. From 2010 to 2017, the value of the “downloadable content” (DLC) market increased by 121%.

   DLC for video games is here to stay, as its importance for companies has grown significantly. In 2010, the market share for DLC was only 20%, while in 2017, that percentage grew to 54%. That’s over half of the market!

4. By 2027, the gaming industry is expected to be worth $482.30 billion.

   That’s an expected growth rate of 7.17% from 2023 to 2027. And that’s also more than double what the industry was worth in 2019.

Global Video Game Industry Statistics

While we have touched on some global gaming industry statistics, there are other interesting worldwide trends to talk about. After all, the nature of the industry can change depending on the country. Here’s what we found:

1. There were 2.69 billion video game players worldwide in 2020.

   And keeping in mind that there are 7.8 billion people in the world, that means that 34% of the world’s entire population plays video games. Plus, this number is only expected to grow by 5.03% to 3.07 billion by 2023.

2. As of 2020, the country with the largest percentage of adult gamers is Vietnam.

   In this country, 85% of adults reported that they play video games. For reference, that percentage is 70% in China, and 50% in the U.S.



3. China has the largest video game market, with a revenue of $40.85 billion in 2020.

   However, the U.S. is close behind, with a revenue of $36.92 billion.

Gaming Industry FAQ

1. How popular is the gaming industry?

   The gaming industry is very popular. In countries like the U.S., 54% of the entire population plays video games. Plus, this percentage only jumps higher when you look at countries like China and Vietnam, where 70 and 85% of the population play video games, respectively.

   Further, the gaming industry continues to become more popular over time. For example, the number of Twitch viewers increased by 40% from 2019 to 2020. This trend is also in line with the fact that the gaming industry is now bigger than the Book, Music, and Film industries.

2. How much is the gaming industry worth?

   The gaming industry is estimated to be worth $365.6 billion globally. In the United States alone, the industry is worth $106.8 billion. This goes to show ho huge the industry has become, seeing as the US gaming industry was only worth a measly $4.7 billion in 1990.

3. Is the video game industry growing?

   Yes, the game industry is growing. From 2019 to 2020, the industry saw a huge spike in growth. For example, there was a 30% increase in the number of gamers in the U.S.

   While this rate has slowed down significantly, the gaming industry is still expected to experience a CAGR of 9.3% from 2020 to 2027. This would mean that by 2027 the industry will be worth at least $293.2 billion.

4. How big is the gaming industry compared to other industries?

   The gaming industry is very big compared to other industries. For example, with a revenue of $160 billion in 2020, the gaming industry has overtaken the book, music, and film industries.

Conclusion

From humble beginnings in arcades and archaic 90s consoles, the gaming industry has become a global economic powerhouse. As of 2023, there are at least 214.4 million monthly gamers in the U.S., and the video game market will hit $106.8 billion. Of course, much of this growth can be attributed to the COVID-19 pandemic.

Plus, this increased growth means that the industry appeals to many demographics across many countries. The fact is that at least 45% of gamers are female, and 16% are 55+. These demographics were less represented 20 years ago. On top of that, countries like China and Vietnam actually have a higher percentage of adult gamers than the U.S.

Overall, the gaming industry is expected to continue its impressive growth. With a CAGR of 9.3%, we could see the global industry reach a value of nearly $300 billion by 2027.

References

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3. Ggrecon. “Top Esports Earners of 2020.” Accessed on October 10th, 2021.

4. Statista. “Leading eSports games worldwide in 1st half 2021, by cumulative tournament prize pool.” Accessed on October 10th, 2021.

5. Raise Your Skillz. “Gaming Industry vs. Other Entertainment Industries (2021).” Accessed on October 10th, 2021.

6. Variety. “Number of U.S. Video Gamers Hits 227 Million, and Most Say They’ve Played More During COVID: ESA Study.” Accessed on October 11th, 2021.

7. WiredShopper. “Gaming In The Next Decade – What Do The Stats Tell us?” Accessed on October 11th, 2021.

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10. MarketWatch. “Global Video Games Market to Reach $293.2 Billion by 2027.” Accessed on October 11th, 2021.

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14. GameRant. “The Future of Physical Media in Games.” Accessed on October 11th, 2021.

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16. Statista. “Distribution of video gamers in the United States in 2021, by age group.” Accessed on October 11th, 2021.

17. FinancesOnline. “Number of Gamers Worldwide 2021/2022: Demographics, Statistics, and Predictions.” Accessed on October 11th, 2021.

18. Statista. “Where Video Games Are Popular Among Adults.” Accessed on October 11th, 2021.

19. Statista. “Leading gaming markets worldwide in 2020, by gaming revenue.” Accessed on October 11th, 2021.

20. Statista. “Video Games – Worldwide.” Accessed on March 5th, 2023.

21. Statista. “Video gaming in the United States – Statistics & Facts.” Accessed on March 5th, 2023.

22. Statista. “Video gaming audiences in the United States – Statistics & Facts.” Accessed on March 5th, 2023.

23. IBIS World “Video Games in the US – Market Size 2004–2029.” Accessed on March 5th, 2023.

24. Statista. “Market capitalization of the largest gaming companies worldwide as of January 2023.” Accessed on March 5th, 2023.

Author

Jack Flynn

Jack Flynn is a writer for Zippia. In his professional career he’s written over 100 research papers, articles and blog posts. Some of his most popular published works include his writing about economic terms and research into job classifications. Jack received his BS from Hampshire College.