Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 

US Video Game Industry To Pass $30B Revenue Mark In 2021 – 11% YoY Growth

The US Video Game industry experienced an almost 20% increase in revenue as a result of 2020’s pandemic. Momentum built from the previous year looks set to continue this 2021 as projections have the US video game industry crossing an important benchmark. According to data presented by Safe Betting Sites US, revenue from the US video game industry is projected to further increase by 11.2% and reach $30.37B in 2021.

US Video Game Industry To Grow By More Than 11% And Pass $30B Revenue Mark In 2021

The lockdowns for 2020 were huge for the gaming industry which saw engagement spike across many if not all aspects of gaming. As a result, the gaming industry experienced an almost 20% rise in revenue in 2020 and in 2021 the industry is set for another double-digit growth.

Revenue is projected to cross the $30B mark for the first time in 2021 and reach $30.37B. From 2021-2025 revenue from the US video game industry is expected to grow at a compound annual growth rate of 8.75% reaching $42.48B by the end of the forecast period. Out of four main gaming segments, Mobile games generate the most revenue for the US video game industry and in 2021 it is projected to generate more than $20B in revenue.

This also gives mobile games the highest projected growth rate among the four segments for 2021 at 12.1%. Notably, in pandemic stricken 2020, gaming networks and online games grew more than mobile games at 22% and 21.3% respectively, compared to just a 19.5% growth by the mobile games segment.

160M Users In 2021; Penetration Rate To Pass 50% In 2022

The number of video game users in the US is projected to pass 160M in 2021 and reach 163.1M users. This figure is projected to reach over 182M users by 2025. Mobile games had the largest user base out of the four segments, which is projected to grow to 155.9M in 2021. Download Games had the second-largest number of users with a projected 136.4M in 2021. Notably, almost 80% of US gamers are between the ages of 18 and 44.

The US video game industry’s penetration is projected to reach 49% in 2021 and pass the important 50% benchmark sometime in 2022. Mobile games again had the highest penetration rate out of the segments at 46.8% in 2021. Notably, the penetration rate of the US video game industry is more than 16 percentage points lower than the highest penetration rate in the world which belongs to the UK at 65.3%

Rex Pascual, eSports editor at Safe Betting Sites US, commented:

“The US video game industry is the second largest in the world, trailing only the gaming behemoths that China has become. Advancements in technologies such as 5G and cloud-based gaming will only see penetration rates increase even more in the coming years, solidifying the industry’s status as one of the fastest-growing industries in the world.”

You can read more about the story with more statistics and information at: https://www.safebettingsites.com/us/2021/08/05/us-video-game-industry-to-pass-30b-revenue-mark-in-2021-11-yoy-growth/

© Scoop Media

 
 
 
Business Headlines | Sci-Tech Headlines

 


Westpac NZ: Warns About Sophisticated New Scam
Westpac NZ is warning New Zealanders about a sophisticated new scam that involves a fake Westpac investment prospectus.
The prospectus is formatted to resemble a Westpac document and includes professional-looking imagery... More>>



Campaign For NZ Coastal Tankers : Says Fuel Security At Risk

Three unions representing New Zealand shipping crews are mounting a united campaign to protect New Zealand’s fuel security and save New Zealand coastal tankers... More>>



Tourism: Travel Bubble With Cook Islands Resumes

Cook Islands tourism restarts today, ending a five-month border closure due to COVID-19. Graeme West, General Manager Australasia for Cook Islands Tourism Corporation, said today’s first flight of quarantine-free travel from New Zealand to the Cook Islands is very significant... More>>


Insurance Council of New Zealand: September South Island Windstorm Cost $36.5 M Raises 2021 Extreme Weather Claims Total To $321.6 M

Gale force winds and storms between 9 and 13 September 2021 resulted in insurers supporting communities to the tune of $36.5 m. This is a significant rise, of $16.7 m, on preliminary figures for the event and lifts the end of year total for all extreme weather events in 2021 to $321.6 m... More>>


Statistics: Building Consents Hit New Highs In November
There were a record 48,522 new homes consented in the year ended November 2021, Stats NZ said today. This was up 26 percent compared with the year ended November 2020... More>>

Fonterra: Revises Milk Collection Forecast
Fonterra Co-operative Group Limited today revised the forecast for its 2021/22 New Zealand milk collections to 1,500 million kilograms of milk solids (kgMS), down from its opening forecast of 1,525 million kgMS... More>>