Gaming Profits For 2021 Already At $44 Billion

business

But how will the future of gaming hold up with so many changes in the world

gaming in 2021
Photo by Florian Olivo on Unsplash

The video game industry is on a tear, with profits for 2021 already at $44 billion, according to a data analytics firm. The year 2020 was an anomaly for the industry, as the pandemic forced people to stay indoors for weeks at a time. While this could simply be the market readjusting, it is certainly an encouraging sign for the future of the industry. This year is set to bring some of the highest revenue levels in the industry’s history.

Revenue for the gaming industry in 2020 is estimated to hit $177.8 billion, up 23.1% from 2019. This is a healthy growth rate, but Wijman cautioned that the industry will face challenges. While the PC and console markets are likely to suffer from recent changes, they should still post high growth rates. Meanwhile, mobile gaming will generate $90.7 billion in revenue, up 4.4% from last year. This represents more than half of the games market in the next two years.

The video game industry has changed radically in recent years. The global market for video games was expected to reach 2.7 billion people by 2021. The boom being fueled by mobile gaming, but console games are also on the rise. In fact, both PC and console game profits are reaching all-time highs. However, the market is still struggling with tight budgets and economic downturn, which has affected the growth rate of many industries.