Is gaming losing steam after its COVID surge? Far from it!
Gaming remains hugely popular across PC, consoles, and mobile. But with growth cooling after the pandemic‘s temporary boost, some are questioning if gaming is losing momentum.
As a hardcore gaming fan and industry expert, I‘m here to put those doubts to rest. Gaming is still setting new records, rolling in more revenue than ever before across the globe.
Sure, blockbuster console sales have eased with supply shortages and a lack of brand new generational leaps. And sky-high COVID engagement has receded with people returning to pre-pandemic habits.
But in the big picture? Gaming is still growing stronger year after year.
Let‘s dig into the data and trends behind the gloomier headlines. When we compare gaming‘s position now to real pre-COVID baselines – not just all-time pandemic highs – things look pretty encouraging!
Gaming market rakes in bigger sales than ever
Even after dropping from 2020/2021‘s stimulus-fueled records, gaming is banking more than before COVID struck.
Total consumer spending on gaming rose to $61.8 billion in 2022 across the US and Canada. That‘s far above the $54.7 billion spent in 2019 pre-pandemic, though it did fall ~5% from 2021‘s peak.
Zooming out further, it‘s up massively – over 85% – compared to 2015‘s haul of $33.7 billion.
| Year | North America Gaming Revenue | Annual Growth |
|---|---|---|
| 2015 | $33.7 billion | – |
| 2019 | $54.7 billion | +62% from 2015 |
| 2020 | $57.0 billion | +4% from 2019 |
| 2021 | $60.4 billion | +6% from 2020 |
| 2022 | $61.8 billion | -2% from 2021 |
Year after year, spending keeps trending higher. During COVID lockdowns, gaming exploded in popularity, blowing past projections. Now as COVID effects ease, growth is predictably slowing back towards more sustainable mid single-digit rates.
Consoles crunch while PC gaming charges ahead
Behind the scenes, a split is emerging. Console gaming revenue fell nearly 10% last year, while PC gaming grew 4%.
Console declines are partly tied to limited new gen stock. But they also likely signal some pandemic-driven casual console buyers dropping off. With less epic new titles and life returning to normal, temps are losing interest.
Meanwhile, PC gaming has flourished thanks to esports, competitive multiplayer, and constant hardware updates. In 2022, PC snagged over 35% of total gaming market share, topping consoles‘ 28%. Mobile dominated with 36%, but more on that later!
Game quality debate rages on
Data aggregation site Metacritic shows the average game review score has sunk over the last decade, from around 75% down to closer to 60%. This has sparked debate on whether game innovation is stalling.
Personally as an avid gamer? I disagree. For AAA franchises, sequels and new installments remain as polished as ever, earning rave reviews for flagships like Elden Ring, God of War: Ragnorak, and Horizon Forbidden West.
The erosion seems tied to inflated scores early last decade and the surge of indie titles more recently. But sort 2022‘s releases by Metascore, and gems shine through while big names dominate the top.
Mobile gaming accelerates in developing markets
While Western markets maturate, gaming‘s future may be brightest overseas. Countries like India, Brazil, and Indonesia are adding mobile gamers rapidly.
Asia-Pacific accounts for ~55% of global gaming revenue. And get this – mobile gaming is projected to grow 12% per year through 2027 thanks to accessible smartphones.
Between maturing VR/AR, cloud infrastructure, and worldwide mobile adoption, gaming still seems locked in for hearty growth rather than peaking.
The future looks bright
So for those worrying gaming‘s best days are past, fret not! Industry veterans like myself expect plenty more epic gaming years ahead.
Sure, we‘re seeing some temporary slowing after the meteoric COVID surge. Consoles face cyclical sales patterns around new generational leaps.
But with mobile bringing gaming to billions more worldwide, VR/AR unlocking richer realism, and PC culture thriving via streaming and esports?
Gaming has staying power. COVID brought an influx of new fans, many who will stick around thanks to gaming‘s unique social and interactive enticement.
While growth rates bounce around annually, gaming continues expanding its total reach and diversity of experiences. I don‘t know about you, but with legendary franchises like GTA, Call of Duty, and Fortnite powering ahead?
My gaming obsession isn‘t going anywhere. We‘ve got epic virtual worlds to explore, journeys to share, and skills to hone. Games let us connect, compete and immerse ourselves in wondrous fantasy realms.
For all us passionate fans and creators, the adventure‘s just getting started. Now let‘s get back to playing! What game is taking up your time right now?
