With the development of technology, the game video game industry is also on a great rise. Especially since 2020, when the coronavirus broke out, the industry has seen peak periods with the support of the quarantine process. However, the picture is not so bright for the video game industry.
Game consoles and subscription services sales will drop by 3 billion in 2022
The game industry has been experiencing its golden period for the last two years. The rise, in which the quarantine process also played a major role, is apparently losing its effect. Ampere Analysis has determined how the video game industry will perform through 2022.
According to the study, sales of games, consoles and subscription services will see a revenue of 188 billion dollars by the end of this year. However, the previous year, this number was 191 billion dollars. It seems that the decrease in the effects of the coronavirus will cause a loss of 3 billion dollars to the game world.
Ampere Analysis briefly explains this decline. He says that investments made in the video game industry will set things right in 2023. Piers Harding Rolls, research director and analyst of the company, gave the following sentences on the subject.
After two years of massive expansion, the games market is giving back some of that growth in 2022. Because multiple factors combine to undermine performance. Even so, the year will end well ahead of pre-pandemic performance and the outlook for the industry as a whole will remain positive with growth forecast for 2023.
On the other hand, Ampere Analysis does not attribute this decline only to the coronavirus. After Russia’s invasion of Ukraine, many important technology companies supported the embargo in order to show their reactions to the Kremlin. It seems that the game industry was receiving significant support from the Russian market under normal conditions.
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