Reportlinker recently released a report entitled “Console Games Global Market Report 2021: COVID-19 Impact and Recovery To 2030”. In this study, it was revealed that the global console gaming market will be worth $65.74 billion by 2025. As a result, the market will register a compound annual growth rate (CAGR) of 12% during this time.
According to the research, the global console gaming market grew from $40.69 billion in 2020 to $42.44 billion in 2021. The industry experienced a CAGR of 4.3% during this one-year period.
“The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges,” the report reads.
For the purposes of this study, the console gaming market was broken up into three sections: digital, online/micro-transaction, and physical console games. Regions covered in the survey include Asia, Europe, North America, South America, the Middle East, and Africa.
(All information was provided by Globe Newswire)