Video Game Industry Market Size Rose From $39.62B To $60.4B In The Last Decade

Must Read

List of United Bank for Africa (UBA) Sort Codes & Branches (with addresses) in Nigeria

The sort code is a number that usually identifies both the bank and the branch where an account is held. The sort...

How To Block Your Bank Account And SIM Card In Case Of Emergency

Losing your phone and wallet or having them stolen can be very frustrating. However, in case that happens to...

List of Access Bank Sort Codes & Branches (with addresses) in Nigeria

The sort code is a number which usually identifies both the bank and the branch where an account is...
- Advertisement -

The Video Game industry is one of the fastest-growing industries in today’s economy even despite the COVID-19 pandemic slowing down most other industries. According to data presented by Safe Betting Sites, the market size of the video game industry in the US rose by over 50% since 2010, a growth of over 20 billion USD.

US Video Game Industry Rose Over 50% Since 2010 – Up $20B

Video Game Industry Market Size Rose From $39.62B To $60.4B In The Last Decade Brandspurng
Photo by Cláudio Luiz Castro

The industry is still one of the fastest-growing industries despite Covid-19 threatening to spoil the party in the last year of the decade. In 2010 the industry’s market size was estimated to be at $39.62B but by the end of the decade, the market size of the industry had grown to $60.4B – an impressive 52.45% increase.

Despite the industry expecting a decline of 0.4% for the year 2020 due to the effects of COVID-19, the last five years have shown an average growth of 12.1% per year between 2015 and 2020.

Number Of Businesses, Employment, And Wage Stats Also Up In The Gaming Industry

Video Game Industry Market Size Rose From $39.62B To $60.4B In The Last Decade

- Advertisement -

More data shows the increase in different facets of the Video Game industry such as Number of Businesses, Employment, and Wage as a direct result of the rise of the industry.

Read Also:  “Tintin Match” launches globally for Android and iOS on Monday August 31 2020

As of 2020, there are 42,438 businesses that fall under the gaming industry category compared to less than 10K in 2010. Between 2015 and 2020 the number of businesses experienced an average growth of 12.1% per year. Notably, despite the pandemic crippling much of the globe, the number of businesses is expected to grow by 9.4% in 2020.

The number of people that are employed as part of the industry has also dramatically increased over the last decade. In 2020 an estimated 241,389 people work in the video game industry compared to less than 125K in 2010. In the last five years, the number of employed in the industry grew an average of 5% per year from 2010-2015. Employment growth is estimated to be at 2.3% for 2020.

Wages have also increased within the industry although 2020 failed to reach the record-high number recorded from 2016. In 2020 wages in the video game industry totalled $20.7B compared to just under $130B in 2010, but short of 2016’s high of $21.1B. The average growth of wages per year is at 1.2% between 2015-2020 with wages expected to grow by 1.8% in 2020.

- Advertisement -
Video Game Industry Market Size Rose From $39.62B To $60.4B In The Last Decade - Brand SpurVideo Game Industry Market Size Rose From $39.62B To $60.4B In The Last Decade - Brand Spur

Subscribe to BrandSpur Ng

Subscribe for latest updates. Signup to best of brands and business news, informed analysis and opinions among others that can propel you, your business or brand to greater heights.

- Advertisement -

LEAVE A REPLY

Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Video Game Industry Market Size Rose From $39.62B To $60.4B In The Last Decade - Brand SpurVideo Game Industry Market Size Rose From $39.62B To $60.4B In The Last Decade - Brand Spur

Latest News

May & Baker Nigeria appoints new Executive and Managing Director as Nnamdi Nathan Okafor takes a bow

Sequel to the Board Meeting of May & Baker Nigeria Plc held on Thursday, 26th November 2020 at the...

Household Consumption Expenditure Contracts By -0.08% in Q2 2020 – NBS

In the first quarter of 2020, Nigeria's real GDP at basic prices grew by 1.87% but declined in the second quarter by -6.10% on a...

NSE Migrates 4 Companies from ASeM to Growth Board

The Nigerian Stock Exchange (NSE) is pleased to announce the migration of Chellarams Plc, Living Trust Mortgage Plc, McNichols Plc, and The Initiates Plc...

Fidelity Bank’s MD/CEO Designate purchases 5 million shares

Fidelity Bank Nigeria Plc has announced that its Managing Director/CEO Designate, Mrs. Nneka Onyeali-Ikpe has increased her stake in the business via the purchase...

Chinese FMCG companies win 82 million new customers

Despite challenges due to the pandemic, 19 out of the top 22 FMCG companies in China grew their shopper base this year. The top 22...
- Advertisement -
BrandsPur Weekly Cartoons
- Advertisement -Video Game Industry Market Size Rose From $39.62B To $60.4B In The Last Decade - Brand SpurVideo Game Industry Market Size Rose From $39.62B To $60.4B In The Last Decade - Brand Spur