Console gaming revenue increases | App Developer Magazine

The current year will be good for most people connected to the console games industry. According to figures presented here by SafeBettingSites.com, console gaming is expected to grow 8.4% year-on-year in 2022. Thus, the console gaming segment is expected to experience the largest growth spurt of the entire gaming industry. game in 2022.

Console games will bring in $58.6 billion in 2022

According to the Newzoo report, smartphone games are expected to continue to be the main source of income for video game developers. However, console games will experience the most significant improvement in revenue among all gaming segments.

In 2022, console games are expected to generate $58.6 billion in revenue, an impressive 8.4% year-over-year improvement. By comparison, smartphone games are expected to bring in $91.4 billion, but only with a 5.7% annual gain.

Expected console gaming growth is even more impressive due to ongoing supply chain issues. The new generation of consoles, primarily PlayStation 5, are not readily available in most markets, depriving a considerable share of gamers from owning these consoles.

Console gaming revenue growth in 2022

The growth in console games this year is said to be due to the release of some highly anticipated games, a growing next-gen base, and Sony’s soon-to-be-launched PlayStation Plus plans.

In terms of market share, mobile games are expected to generate 45% of all gaming revenue in 2022. By comparison, console gaming revenue is expected to account for 28.8% of all revenue.

The tablet gaming segment is expected to improve only slightly with annual growth of 1.2%. It is expected to be worth $12.1 billion in 2022, or 6% of the overall market.

Downloaded or boxed PC games make up the third largest share of the gaming industry. In 2022, this gaming segment is estimated to generate $38.7 billion in revenue. This amount would constitute 19% of the entire market. Downloaded/boxed PC games would see a decent growth of 3.2%.

The report’s projected revenue for PC browser games makes for exciting reading. This report further confirms the ever-decreasing popularity of these games. PC browser game revenue is expected to decline massively by 16.9% in 2022. Overall PC browser game revenue is expected to be $2.3 billion this year, only 1% of the overall market.

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