Video Games

The video gaming industry is worth $159.3 billion in 2020 and there is a huge increase of 9.3% from the previous year. The market value of the video games industry is increasing constantly and experts estimate the market value will be worth $200.8 billion by 2023. The number of video gamers keeps constantly growing over the years and there is data predicted that the number of gamers will continuously increase steadily. Asia-Pacific has the biggest area of growth in the number of overall gamers. In 2019, there were 1398.33 million gamers and the number of gamers increased by around 200 more gamers in the following year. China holds the majority share of video gaming revenue in terms of the country which holds $34400 million of video game industry revenue share in 2020.

Video games can be played and developed on many different platforms, such as PC, Mobile, Switch, Xbox, etc. The most popular video game platform for game developers is PC (personal computer) with 56% of game developers in 2020. The second and third places are mobile and PS/PS4 Pro which holds 39% and 25% respectively. The reports showed that despite PC gaming, mobile games would probably become the next popular platform for gaming in the next generation. The reason might be that mobile is comparatively easy to access and it is more common that everyone has one. The growth in more mobile games would be positive in the future. Video games have different types of genres. The best-selling game is action games. It holds a 26.9% market share in the US(2018). Shooting game and role-playing are followed after with 20.9% and 11.3% market share. The top two genres were violent games. Gamers might think these kinds of games are more exciting and they can get better gameplay experiences from them. Also, 73.55% of gamers said they prefer single-player games more.