Bain & Company recently released a new report on the state of the gaming space. According to this research, the global gaming industry will grow by over 50% over the next five years, causing the market to top out at $300 billion.
Bain identified three industry trends that will lead to this growth. Technological advancements, metaverse experiences, and new monetization models will all help the gaming industry grow.
“If I’m looking at a sector over the next five years, the gaming industry has some really attractive fundamentals that even in macroeconomic slowdowns,” said Andre James, the global head of Bain’s Media and Entertainment practice. “Obviously, with COVID-19 there were a lot of curve balls for lots of different industries, including gaming. We’re still working through some of that. But when I go back to those underlying dynamics of technology, consumer behavior, monetization — we do think those are undeniable truths that ultimately will fuel the growth of the business in a healthy way over the next five-plus years.”
There is still a lot of growth expected for the gaming space this year. In fact, a report from Data.ai and the International Data Corporation shows that the gaming sector will be worth $222 billion in 2022.
(All information was provided by Bain & Company, GamesIndustry.biz, and VentureBeat)
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