Toy market news

Trend watch: Growth in the gaming industry

A recent report from Newzoo suggests that as we are moving toward a post-COVID society, the gaming industry will see growth

As COVID-19 restrictions are relaxing around the world, the video game industry is gearing up for a new era of gaming. Consumers are leaving their homes again, and supply chain disruptions are causing concern amongst many industries.

Even with these market conditions, a new report from Newzoo has revealed that in 2022, global games market revenues will reach $196.8 billion, up slightly by 2.1% year-on-year. However, due to these same market conditions, including the supply constraints as well as AAA game delays, Newzoo revised estimates from April, lowering the total from $203 billion. The pandemic and its resulting supply chain issues have slowed growth, but it hasn’t stopped it. Additionally, player numbers will grow by 4.6% to reach 3.2 billion in 2022, a result of gaming’s growing popularity among younger generations.