The world gaming market touched a whopping high of $162.32 billion in the year 2020. The stay at home restrictions due to the pandemic boomed the gaming industry by record levels.
Researches showed one in four individuals spent more money on gaming during the pandemic.
“As part of the pandemic, we saw that games continue to be how people create and maintain connections. Gaming grew as a socially connected experience, whether that was watching streams or using games as a way to connect with family and friends while sheltering at home,” Meagan Timney, Head of UX, Stadia at Google said.
Game downloads worldwide rose by nearly 75% in 2020 when compared to the previous year and watch time of live stream gaming jumped by 45%. Action adventure games have seen the fastest and highest growth during the pandemic.
A Google report found that worldwide there were more than 40 million active gaming channels on YouTube and this contributed to at least 100 billion watch time hours for gaming content.
The most live streamed games in the pandemic year was Minecraft which stood over 201 billion views followed by Roblox with 75 billion views and in the third place was Garena Free Fire with 72 billion views.
The global gaming market is said to zoom past $300 billion by the end of 2026.
China is home to the biggest gaming market globally, revenues generated there exceeded $40 billion in 2020.
Followed by China is the United States, which incurred revenue of $36 billion and in the 3rd spot was Japan with $18.68 billion in returns.
Mobile gaming is the biggest gaming vertical worldwide. This segment alone has amassed more than $90 billion this year so far. Console gaming and personal computer gaming stand second and third respectively.
Japan’s Nintendo and Sony Computer , China’s Tencent Holdings and USA’s Microsoft are some of the biggest players of this industry globally.
Tencent’s mobile gaming segment reported that they earned over $145 million through monthly in app revenues alone in the beginning of this year.