Bain predicts gaming will grow 50% to $300 billion in 5 years

by | Oct 13, 2022 | Technology

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Bain & Company predicted that the game industry’s global revenue could grow by more than 50% over the next five years to $300 billion.

In a new research report, the global consultancy said the industry growth is accelerating thanks to heavy engagement of younger gamers (ages 13 to 17) who spend about 40% more in video game environments than with any other form of media.

To me, it’s interesting to see a big firm like Bain pay attention to games, as it hasn’t done as much research on the sector in the past. (James is going to be one of the scores of speakers at our GamesBeat Summit Next 2022 event on October 25-26 in San Francisco; you can use Dean50 for a 50% off discount).

This prediction looks at gaming’s own internal growth factors, and it isn’t necessarily being slowed by weak macroeconomic trends. In fact, it’s growing faster than any other kind of entertainment, said Andre James, global head of Bain’s Media and Entertainment practice, in an interview with GamesBeat.

In fact, those other forms of entertainment will lose time to gaming. While gaming’s growth rate sounds high, it’s about 9% or 10% a year, which isn’t blazing fast but sounds good as other industries contract. But James notes it is very good growth for an industry that is already around $195 billion in size. To put that in perspective, the global TV market is around $259 billion.

“That bullishness on the market is really driven by underlying dynamics,” James said.

Consumer demand for games is growing, technology is advancing quickly, and monetization models are taking off. And this is before you count the p …

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