Growth in Value and Evolution of the Gaming Market
Before the health crisis, the video game market was already experiencing constant expansion. Driven by technological innovations, live streaming, and the rise of e-sports, the gaming market was thriving.
With the arrival of Covid and lockdowns, video game sales exploded. Sales of gaming consoles, online game downloads, and subscriptions to gaming services reached record levels.
Multiplayer games were in high demand, and virtual communities were highly popular during lockdowns.
Gaming console manufacturers also adjusted their strategies to meet evolving consumer needs. The release of next-gen consoles (Sony’s PlayStation 5 and Microsoft’s Xbox Series X) marked a new era of cutting-edge graphics, reduced loading times, and an even more immersive gaming experience. The new generation consoles achieved overwhelming success despite challenges related to production and stock availability.
E-sports also thrived during the pandemic, benefiting from the cancellation of many traditional sports events. To satisfy their competitive spirit, consumers turned to online competitions. Major tournaments attracted unexpected audiences, and sponsors flocked in, recognizing the commercial potential of e-sports.
Thus, 2020 was a notable year for the gaming world. The pandemic’s effect is evident: between 2019 and 2022, the sector’s growth tripled in percentage, returning to pre-Covid figures a year later.
This trend is confirmed across all analyzed countries, except in Germany, where the growth was less significant during the health crisis, but the decline was much slower than in other countries.
Gaming: A Democratized Practice
Gaming has regularly been debated for its potentially addictive nature. However, the time when video games were only for hardcore gamers is long gone. It has become democratized.
From Assassin’s Creed to Candy Crush, Mario Kart, and Solitaire, there’s something for everyone. Moreover, gaming has become very accessible – it’s no longer necessary to own a console; one can now play on PC and mobile.
In short, you can play anywhere. It’s not surprising that video games have gained so much prominence, far from the reputation they had just a few years ago.
On a console, it is now possible to select:
- Educational games for young children (to learn colors or numbers)
- Fitness or workout exercises
- Strategy games
- Multiplayer games, fostering social connections
- FIFA, and play for 12 hours straight, of course!
If the gaming market is constantly growing in the five analyzed countries. There is a strong seasonality in the sector: franchises typically wait for back-to-school or the end-of-year period to release highly anticipated games and new consoles.
Gaming Purchases: Average Price by Country
In 2023, the average price of gaming items varies between 13 and 19€ depending on the country. This includes full games and downloadable content (extensions and microtransactions).
What Future for the Gaming Market?
- Cloud Gaming: It represents significant potential but does not signal the end of video game consoles. Gamers have a strong connection with the object – the installation and configuration of the console, and the purchase and collection of game boxes are important to them.
- E-sports becomes a full-fledged discipline: A discipline not reserved for hardcore gamers. Internet users are increasingly following online competition videos or shows.
What about Mobile Gaming?
To identify the most popular mobile applications at the moment, many solutions exist on the market. But the only KPI used is the number of downloads. Until now, there was no data on user behavior once the application was downloaded.
With AppWhalie, Foxintelligence offers in-app analyses: data specifically focused on in-app purchases (in value and volume). AppWhalie allows for comparing the performance of an application with its competitors and provides a deeper understanding of buyers and their purchasing behaviors.
A unique solution that offers the possibility to:
- Uncover the secrets of a product’s success
- Optimize user engagement in an application
- Foster long-term loyalty
