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Video games sales shrink for the first time in years

video-games-sales-drop-thefutureparty
Photo by Yan Krukov

Video games sales shrink for the first time in years

 

The Future. After years of breakneck growth, video game sales are finally slowing down. Research from Ampere Analysis says the industry will shrink this year for the first time since 2015. If the projection pans out, the idea that the gaming market is “recession- proof” could turn out to be a fallacy.

Press pause
Video games’ heyday might be coming to an end.

  • During pandemic lockdowns, the market ballooned by 26% and has been growing steadily for nearly seven straight years.
  • That growth propelled it last year to reach a record $191 billion in size.
  • But this year, the market is facing some speed bumps — Ampere predicts a 1.2% YoY shrink to $188 billion in 2022.

Game over?
From supply chain bottlenecks for consoles to rising inflation, recession headwinds are a formidable challenge for any market to overcome. Plus, the mobile gaming subsector is also working around privacy changes from Apple with stricter guidelines.

That’s not to say the industry is taking a nosedive — not by any means. Instead, analysts expect gaming to bounce back healthily, making a return to growth in 2023 and hitting $195 billion in size.

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