UK Video Games Market Expected to Reach £5.5 Billion by 2022
3/12/2019 - PSYVentures
As the second-largest video games market in Europe and the sixth-largest market in the world, the United Kingdom will continue to report a year-on-year increase in gaming revenue. According to GoldenCasinoNews.com research, the entire UK video games market is expected to grow at a CAGR of 5.3 percent and reach £5.5 billion value by 2022.
Digital and Online Games Generate Almost 50 Percent of the Market Revenue.
In 2018, the UK video games market reached £4.2 billion value with games making more than half of the entire entertainment market and outselling music and video combined, for the first time. The statistics show that digital and online games made nearly half of that amount, with consumers spending more than £2 billion in this product sector.
With £1.1 billion profit, mobile games are ranked as the second-largest revenue stream on the UK video games market. Compared to £158 million in revenue in 2011, the market value of mobile gaming significantly increased over the years. More than £700 million profit was generated from selling boxed software, which makes it the third-largest product sector of the UK video games market. Other lucrative sources of revenue are console hardware, peripherals and accessories, and PC game software.
Top 5 Best Selling Console Games Reach 1.5 Million Sold Units in H1 2019
According to recent data, the top five UK best-selling physical and digital console games in H1 2019 are Grand Theft Auto V, FIFA 19, Tom Clancy’s The Division 2, Red Dead Redemption 2, and Resident Evil 2. The five leading UK console games reached 1.5 million sold units in the first half of the year.
In 2018, the top ten best-selling video games in the United Kingdom, including physical and digital console and PC games, reached over 8 million sold units in total. FIFA 19, Red Dead Redemption 2 and Call of Duty: Black Ops 4 as the top three games on the list made more than 60 percent of that amount.
Further information about the strength of the gaming market can be found here.
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