Video Gaming Industry

In the video gaming industry, 2020 saw the launch of the next generation of video game consoles, with both Microsoft and Sony Interactive Entertainment having released the Xbox Series X/S and PlayStation 5 consoles, respectively, in November 2020. The industry was heavily affected by the impact of the COVID-19 pandemic which had begun in March and kept most people in lockdowns and working from home. While this caused numerous delays in software and hardware releases and the cancellation of live conferences and events in favor of virtual shows, it also created a boon for the industry as people turned to gaming as a means to pass the time. The industry also reacted to the Black Lives Matter movement that grew from the George Floyd protests, and to a new wave of allegations of toxic behavior at development studios related to the Me Too movement.

Mobile gaming continued its growth as a major platform for video gaming; as part of this, Epic Games initiated lawsuits against Apple and Google over their mobile app store revenue cut policies. Major planned acquisitions included Xbox Game Studios’ acquisition of ZeniMax Media and its subsidiaries, and Electronic Arts outbidding Take-Two Interactive for Codemasters.

 

How much is the video gaming industry worth 2020?

According to a recent report by Newzoo senior market analyst Tom Wijman, the global gaming market will generate $159.3 billion in revenue in 2020. That would be 9.3 percent year-over-year growth. What’s more, Newzoo projects the industry to surpass $200 billion in gaming revenues in 2023.

 

What industry is gaming in?

The video game industry is the economic sector involved in the development, marketing, and monetization of video games. It encompasses dozens of job disciplines and its component parts employ thousands of people worldwide.

 

Is video gaming industry bigger than Hollywood?

Global video games revenue is expected to surge 20% to $179.7 billion in 2020, according to IDC data, making the videogame industry a bigger moneymaker than the global movie and North American sports industries combined.

 

Which country has the most gamers?

You won’t belief it; Vietnam

According to the Statista Global Consumer Survey, Vietnam was the country with the highest number of adult gamers in 2020. 94 percent of Vietnamese adults said they gamed at least occasionally, with many fans of mobile gaming among them.

 

What is the highest grossing video game ever?

The Top 10 Best-Selling Video Game Franchises of All Time

  • Pokémon — $90 billion. …
  • Mario — $30.25 billion. …
  • Call of Duty — $17 billion. …
  • Wii — $14.808 billion. …
  • Pac-Man— $14.107 billion. …
  • Space Invaders— $13.93 billion. …
  • Dungeon Fighter Online — $11.8 billion. …
  • Street Fighter — $11.279 billion.

 

Fun fact; Who owns Tetris now?

The Tetris Company, LLC (TTC) is based in Hawaii and is owned by Henk RogersAlexey Pajitnov and Blue Planet Software. The company is the exclusive licensee of Tetris Holding LLC, the company that owns Tetris rights worldwide. It licenses the Tetris brand to third parties.

That’s all folks, some fun facts of the video gaming industry.