Video game sales in the US reached a record $56.9bn in 2020, up 27% YoY, according to the NPD Group. The surge is attributed to gamers looking for entertainment during the COVID-19 pandemic, the release of new consoles and the increasing popularity of playing video games in general. Among the top-performing genres are action and shooter games, sales of which increased 30% YoY, sports games, where sales rose by 27%, and role-playing games, which saw a 40% YoY spike. Growth trends for the industry include the rise of cloud gaming, virtual reality, and powerful mobile devices specifically for gaming purposes.
Video Game Sales Surge: Which Genres Are Driving the Growth and What’s Next for the Industry?
Introduction
The video game industry is currently experiencing a surge in sales, driven by a combination of factors including the COVID-19 pandemic, the release of new consoles, and an increasing number of people turning to gaming for entertainment. In this article, we’ll take a closer look at which genres are driving the growth and what we can expect next for the industry.
The Numbers
According to a report by the NPD Group, video game sales in the US for the 2020 holiday season hit a new record of $7.7 billion, up 27% compared to the same period in 2019. The report also revealed that for the entire year, spending on video games reached $56.9 billion, up 27% from the previous year.
Genres Driving the Growth
While sales of all video game genres have seen an increase, certain genres have seen a particularly notable surge in popularity. These include:
1. Action and Shooter Games
Action and shooter games saw a 30% increase in sales in 2020 compared to the previous year. This can be attributed in part to the release of popular titles like Call of Duty: Black Ops Cold War and Assassin’s Creed Valhalla.
2. Sports Games
With the cancellation of many live sporting events due to the pandemic, sports games have become a popular alternative for fans. Sales of sports games increased by 27% in 2020.
3. Role-Playing Games
Many gamers have turned to role-playing games as a way to escape reality during the pandemic. Sales of these types of games increased by 40% in 2020, driven by titles like Cyberpunk 2077 and Final Fantasy VII Remake.
What’s Next for the Industry?
With the continued growth of the video game industry, experts predict that we’ll see several trends emerge in the coming years:
1. Cloud Gaming
Cloud gaming services like Google Stadia and Microsoft xCloud are expected to become more prevalent, allowing gamers to play high-quality games on any device without the need for expensive hardware.
2. Virtual Reality
Virtual reality technology is becoming more advanced and affordable, leading to a rise in VR gaming. This technology has the potential to revolutionize the way we experience video games.
3. Mobile Gaming
Mobile gaming has already seen significant growth in recent years, and experts predict that it will continue to do so. As mobile devices become more powerful, we can expect to see more high-quality games developed specifically for mobile platforms.
Conclusion
Video game sales are on the rise, and it’s clear that the industry is here to stay. With the release of new consoles and exciting developments in technology, gamers have a lot to look forward to in the coming years.