For the first time in years, video game sales are declining

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(Photo: Derek Story / Unsplash)
The epidemic-induced Hyde of the video game industry may soon be over — or at the very least, with a break. New research reveals that the global gaming industry is set to contract up to 1.2 percent this year.

An analysis by market data firm Ampere Analysis shows that sales of gaming-related software and hardware will drop to about 188 188 billion. In the United States in particular, consumer spending is expected to drop to $ 55.5 billion, down nearly 9 percent from last year. According to Ampere, 2022 will be the first year video game sales have declined since 2015.

Before anyone is concerned about the gaming industry or the economy as a whole, it’s important to remember that the recession is in fact created. Slow growth. This means quite a buffer where sales can still decline while still healthy. According to global market analysis firm NPD, the epidemic alone increased video game-related software and hardware sales by more than 29 percent between 2019 and 2020. Declining sales from that point does not mean that the industry is suffering; It can return to a “normal” state, if it still exists. (Consumer spending in the United States continues to be similar: while the Bureau of Economic Analysis says spending fell month-on-month, their money rose only 0.2 percent in May, up from 0.9 percent in April.)

Some have given up finding the Xbox Series S or X.

This does not mean that there is no reason to worry. The main players in the gaming industry are preparing for the recession by cutting workers and reducing activity. Meanwhile, the industry is beginning to feel the effects of the Russian aggression in Ukraine, which has persuaded many companies to stop working in and with Russia. According to Ampere, Russia has created a pre-invasion of the world’s 10th largest video game market. It is now expected to drop to No. 14 after the expected 1.2 billion loss. And here in the United States, rapid economic inflation continues to tarnish the budgets of individuals and families, perhaps leaving very little room for luxuries like gaming.

That being said, quarantine orders Is Nowadays most don’t, so fewer people are becoming desperate towards video games for entertainment. The innovation of new consoles like the Xbox Series S and X and the PlayStation 5 is also likely to end (especially since people sometimes leave a find in the store.) All things considered, it probably seems like a number of events with positive and negative effects. Dive into sales from.

One bit of good news, though, is that the dive is expected to be temporary. Ampere’s analysis suggests that the industry will return to growth in 2023, when sales will hit the expected $ 195 billion.

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