UK Video Games and Consoles Market Report 2022
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The UK Video Games and Consoles Market Report examines consumers’ attitudes towards and ownership of static and portal gaming consoles, the growing preference for digital game downloads, and the impact of rising inflation on the gaming console market. This report covers the gaming console market size, market forecast, market segmentation and gaming industry trends.
Gaming Console Market Current Landscape
Sales in the gaming console market decreased in 2022, compared to previous years when many consumers bought products to keep entertained over several lockdowns. The cost of living crisis will also mean that consumers have had to pick cheaper entertainment alternatives. However, the financial squeeze is likely to encourage more people to be gaming at home with friends and family as a more affordable option to other leisure activities, which opens up opportunities for brands in the gaming console market to target this group of consumers.
Gaming Console Market Size and Key Gaming Industry Trends
In the near future, the gaming console market will level out due to the expected launches of the refreshed PlayStation 5 and Xbox Series. With inflation estimated to decline in 2024, consumers will be in a slightly stronger position to buy consoles. Upcoming gaming industry trends will see streaming playing a more important role by increasing game subscription take-up, and more people will own 5G mobiles, increasing mobile gaming participation.
- Gaming console market size: The discount market is expected to decline in 2022, recording a market value of £1.8 billion.
- 68% of people have heard of the metaverse, and 23% agreed that gaming is one of the aspects of the metaverse that they are most interested in.
- 25% of UK adults use their gaming console 2-4 days a week.
- 65% of Brits agree that gaming at home with family/friends is a more cost effective way to socialise than going out.
Future Gaming Industry Trends
In the longer term, there will be an increased variety of portable consoles available to consumers. Capitalising on people’s nostalgia (e.g. with the Analogue Pocket and Playdate) is becoming an essential way to target portable consoles to dual-parent families. This demographic is more likely than average to own a portable console and intends to buy one in the next year.
Mintel’s video game and console market report indicates that the increased ownership of virtual reality headsets will accelerate the participation of game playing inside the metaverse. However, the VR sector currently lacks progressive development, which could significantly restrict the success of gaming in the metaverse.
To discover more about the UK Video Games and Consoles Market Report 2022, read our UK Mobile Gaming Market Report 2022, or take a look at our Gaming Market Research Reports.
Quickly Understand
- Ownership of static and portable consoles including the PS5 and Xbox Series.
- Frequency of gaming on static consoles.
- Impact of the cost-of-living crisis on the gaming console market and how priorities around gaming have changed since COVID-19.
- The genre of games that people are most likely to play.
- Preference for digital downloads of games or purchases of physical discs.
- The growing portable options in the gaming console market and how nostalgia can be key in convincing people to buy.
- Explores key gaming industry trends and gaming console market size and share.
Covered in this Report
Brands: Sony, Microsoft, Nintendo, Steam Machines, Nvidia Shield, Analogue and Panic, Activation Blizzard, Playdate, Meta (Quest Pro), Riot Games, Wargaming Net, Scopely.
Products: Static and portable consoles and respective games.
Expert Analysis from a Specialist in the Leisure Sector
This report, written by Zach Emmanuel, a leading analyst in the leisure sector, delivers in-depth commentary and analysis to highlight current trends in the gaming console market and add expert context to the numbers.
There is an opportunity for brands to target the growing number of people gaming more often at home with friends and family as a way of saving money during the cost-of-living crisis. With Sony and Microsoft expected to add adverts to free-to-play games, companies such as food delivery services can appeal to this emerging audience.”
Zach Emmanuel
Consumer Technology Analyst
Collapse All
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Overview
- What you need to know
- Key issues covered in this Report
- Products covered in this Report
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Executive Summary
- Five-year outlook for video games and consoles
- Figure 1: Category outlook for video games and consoles, 2022-27
- The market
- Value of video games and consoles market decreases to £1.8bn due to drop in hardware sales
- Figure 2: Value of UK video games and consoles market, 2016-22
- Figure 3: Forecast for the value of the UK video games and consoles market, 2017-27
- Two thirds of consumers are aware of the metaverse, with gaming among the favoured activities
- Ownership of VR headsets continues to show little sign of change
- Companies and brands
- Analogue and Panic launch portable consoles with retro theme
- PlayStation gives more details on PSVR 2 ahead of February 2023 release
- Microsoft and Sony to add adverts to free-to-play games
- Microsoft buys Activision Blizzard in $68.7bn deal
- The consumer
- Game streaming is key to getting Older Millennials back engaged with gaming
- Figure 4: Type of static console owned, 2021-22
- Nostalgia element could encourage parents to buy challenger portable consoles
- Figure 5: Ownership and intent to buy portable games consoles, 2022
- In-game purchases to benefit from the higher number of ardent Generation Z and Younger Millennial gamers
- Figure 6: Frequency of gaming on static consoles, 2021-22
- Special edition games in store will appeal to Older Millennials and Generation X
- Figure 7: Preferred place to buy games from, 2022
- Showcasing puzzle, trivia and arcade-style games are a key way to get even more women into gaming
- Figure 8: Preferred gaming genre, 2022
- Brands selling accessories for multiplayer gaming to benefit from the increased interest in online gaming with friends
- Figure 9: Importance of gaming with others compared to during COVID-19 lockdowns, 2022
- Target the consumers who are increasingly using gaming to socialise
- Xbox’s All Access bundle will appeal to lower-income homes over next year
- Figure 10: Attitudes towards cost-of-living crisis, game streaming services and intent to buy consoles, 2022
- Five-year outlook for video games and consoles
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Issues and Insights
- Brands should target consumers gaming at home with friends as a result of the cost-of-living crisis
- Nostalgia for portable consoles is key for engaging dual-parent families
- Promoting Xbox All Access bundle is key to appeal to lower-income households
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Market Size and Forecast
- Five-year outlook for video games and consoles
- Figure 11: Category outlook for video games and consoles, 2022-27
- Value of video games and consoles market decreases to £1.8bn due to drop in hardware sales
- Refreshed static consoles to influence market in 2024 or 2025
- Figure 12: Value of video games and consoles market, 2016-22
- Figure 13: Forecast for the value of the UK video games and consoles market, 2017-27
- Stock shortages affect PS5 sales in particular during H1 2022
- Figure 14: Volume of consoles sales in the UK, 2017-22
- Figure 15: Forecast for the volume of sales in the UK video games and consoles market, 2017-27
- Decrease in software sales for PlayStation and Xbox
- Five-year outlook for video games and consoles
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Market Drivers
- Inflation is the key concern for consumers and brands
- Two thirds of consumers are aware of the metaverse, with gaming among the favoured activities
- Ownership of VR headsets continues to show little sign of change
- A quarter of smartphone owners have a 5G contract
- Growth in number of mobile gamers compared to recent years
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Market Share
- Nintendo Switch continued to be most purchased console in 2021
- Figure 16: Share of console sales, 2020-21
- Nintendo Switch continued to be most purchased console in 2021
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Launch Activity and Innovation
- PlayStation announces high-end highly customisable DualSense Edge controller
- Xbox releases Elite Wireless Series 2 Core controller
- Analogue launches retro portable console the Analogue Pocket
- Analogue releases Super Nt and Mega Sg to play Sega and SNES titles
- Playdate portable console is unveiled with weekly new games
- PlayStation gives more details on PSVR 2 ahead of February 2023 release
- Meta announces Quest Pro but Quest 2 remains most suitable for gamers
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Competitive Strategies
- Microsoft and Sony to add adverts to free-to-play games
- Microsoft buys Activision Blizzard in $68.7bn deal
- European Commission investigates deal amid concerns over market competition
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Advertising and Marketing Activity
- Advertising spend in 2022 moves back towards pre-COVID-19 levels
- Scopely is far ahead as leading games advertiser
- PlayStation features several major celebrities in comedy skit to promote God of War Ragnarök
- Figure 17: Total above-the-line, online display and advertising expenditure on games hardware and games software, 2018-22
- Figure 18: Total above-the-line, online display and advertising expenditure on games hardware and games software, by advertiser (top five), 1 January – 2 November 2022
- Nielsen Ad Intel coverage
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Brand Research
- Brand map
- Figure 19: Attitudes towards and usage of selected brands, 2022
- Key brand metrics
- Figure 20: Key metrics for selected brands, 2022
- Consumers are more likely to trust PlayStation than Xbox or Nintendo
- Figure 21: Attitudes, by brand, 2022
- PlayStation, Xbox and Nintendo are close in being viewed as fun
- Figure 22: Brand personality – Macro image, 2022
- PlayStation and Xbox are much more likely to be deemed as expensive than Nintendo
- Figure 23: Brand personality – Micro image, 2022
- Brand analysis
- Trust in PlayStation means consumers are still likely to buy during cost-of-living crisis
- Preserving user-friendly opinion is key for Xbox’s intention to implement adverts in free-to-play games
- Nintendo’s family focus means it is viewed as an accessible brand
- Brand map
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Type of Static Console Owned
- Game streaming is key to getting Older Millennials back engaged with gaming
- Take-up of latest consoles is close to the previous generation PlayStation 4 and Xbox One
- Figure 24: Type of static console owned, 2021-22
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Ownership of a Portable Console
- Nostalgia element could encourage parents to buy challenger portable consoles
- Figure 25: Ownership and intent to buy portable games consoles, 2022
- Figure 26: Ownership and intent to buy portable games consoles, by life stage, 2022
- Adverts of free-to-play games are key for portable consoles over next year
- Figure 27: Playing more free-to-play games crossed by intent to buy portable consoles, 2022
- Nostalgia element could encourage parents to buy challenger portable consoles
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Frequency of Gaming
- In-game purchases to benefit from higher number of ardent Generation Z and Younger Millennial gamers
- Figure 28: Frequency of gaming on static console, 2021-22
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- Figure 29: Frequency of gaming on static console for Generation Z and Younger Millennials, 2021-22
- In-game purchases to benefit from higher number of ardent Generation Z and Younger Millennial gamers
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Digital Downloads vs Physical Discs
- Special-edition games in store will appeal to Older Millennials and Generation X
- Figure 30: Preferred place to buy games from, 2022
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- Figure 31: Preference for downloading games or buying discs, by generation, 2022
- Special-edition games in store will appeal to Older Millennials and Generation X
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Genre of Games
- Engagement in sports games should be unaffected by end of EA and FIFA partnership
- In-game purchases for role-playing games are potentially best way to engage Younger Millennials
- Figure 32: Preferred gaming genre, 2022
- Showcasing puzzle and trivia games are a key way to get even more women into gaming
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Changes to Gaming Priorities since COVID-19
- Brands selling accessories for multiplayer gaming to benefit from the increased interest in online gaming with friends
- Figure 33: Importance of gaming with others compared to during COVID-19 lockdowns, 2022
- Brands selling accessories for multiplayer gaming to benefit from the increased interest in online gaming with friends
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Attitudes towards Video Games and Consoles
- Target the consumers who are increasingly using gaming to socialise at home
- Xbox’s All Access bundle will appeal to lower-income homes over next year
- Figure 34: Attitudes towards cost-of-living crisis, game streaming services and intention to buy consoles, 2022
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Appendix – Data Sources, Abbreviations and Supporting Information
- Abbreviations
- Consumer research methodology
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