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The global market for video games based on 2020 revenues was estimated to exceed $179.7 billion according to the International Data Corporation; the growth of 20% over 2019 revenues is attributes to the surge in spending in video games from the COVID-19 pandemic along with the releases of the new consoles. [10]
Since 2000, the video game industry was considered recession-proof, having thrived compared to other industries during the 2008 Great Recession, and as one of the more profitable industries during the COVID-19 pandemic in 2020 and 2021. Video games are seen as a low-cost vice and entertainment for consumers when approaching recession.
Electronic Arts (EA) is the world's largest independent video game publisher by revenue and market value. American video game developer Electronic Arts is based in Redwood City, California. Trip Hawkins, an Apple employee, founded the business in May 1982. It was a pioneer in the early home computer gaming market and referred to the designers ...
And after rocketing in 2020, console game spending stalled out in 2021, with growth sitting at 0.7%, before revenue declined 3.4% in 2022. It did, however, return to growth in 2023.
When Nvidia had a $144 billion market cap five years ago, shares were valued at 15 times sales. As a $3.2 trillion company as of this writing, Nvidia's price-to-sales valuation has climbed to 34 ...
An increase at this point, near the planned end of the eighth generation of video game consoles, was unusual and was attributed to the pandemic. [119] [120] By July 2020, NPD Group reported that the total sales of video game hardware and software within the United States in the first six months of 2020 reached US$6.6 billion, the highest since ...
The ninth generation of video game consoles has begun in the 2020s, with the release of the Xbox Series X and Series S and PlayStation 5 in 2020. The ninth generation offers faster computation and graphics processors, support for real-time ray tracing graphics, [9] output for 4K resolution, and in some cases, 8K resolution, with rendering speeds targeting 60 frames per second (fps) or higher. [10]
In this piece, we will take a look at the 15 biggest video game companies in the world. For more companies, head on over to 5 Biggest Video Game Companies In The World. The video game industry is ...