May 3, 2023 (Investorideas.com Newswire) The gaming industry is expected to gross around $385bn in revenue this year, and nearly one-third of that value will come from China and the United States, the two largest gaming markets. But when looking at the total number of gamers, the US market is still behind Europe.
According to data presented by SafeBettingSites.com, the number of gamers in Europe hit over 313 million this year, almost 80% more than in the United States.
Europe Has Larger Player Base, but Americans Spend 3x More Money on Gaming
Over the years, video games built a massive player base on the Old Continent. Today, some of the best eSports players come from Denmark and Finland, while the United Kingdom, Germany, France, Italy, and Spain make up half of the top ten gaming markets. Moreover, the European player base became significantly larger than the one in the United States, the world's second-largest gaming industry.
According to a Statista survey, more than 32 million Europeans started gaming in the past five years, with the total number of gamers rising from 281 million in 2019 to 313.5 million in 2023. This figure is expected to grow by another 6% to 332.2 million in the next two years.
On the other hand, the number of gamers in the United States increased by 22 million in the last five years, with the country now counting around 175 million gamers. By 2025, the US player base is forecast to reach 185 million people.
And while Europe leads in total player count, Americans spend much more money on gaming. According to Statista, US gamers will spend an average of $527 on video games this year or three times more than Europeans, while the country's gaming sector is expected to gross $92.3bn in revenue.
The European gaming industry will see half that revenue, or $47.2bn, with gamers spending an average of $151 on video games this year.
Europe's Gaming Sector to Grow by CAGR of 9.2% by 2027
Although the United States has a bigger revenue share in the global gaming industry, the European market is forecast to see a higher five-year growth rate.
Statista expects Europe's gaming industry to gross $68.2bn in revenue by 2027, growing by a five-year CAGR of 9.2%. Most revenue, or around $13.3bn, will come from the United Kingdom, Europe's gaming capital.
On the other hand, the US gaming sector is expected to see a CAGR of 8.5% between 2022 and 2027. Last year, the US gaming industry grossed $85.2bn. This figure is set to touch almost $128bn in the next four years.
The full story and statistics can be found here: https://www.safebettingsites.com/2023/05/03/europe-has-over-313-million-gamers-almost-80-more-than-the-united-states/
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