Consumer market research firm NPD Group and the Entertainment Software Association (ESA) have revealed that the gaming industry in the US made a record $43.4 billion USD in revenue last year, representing an increase of 18% when compared to the year before.
"The impressive economic growth of the industry announced today parallels the growth of the industry in mainstream American culture," said acting ESA President and CEO Stanley Pierre-Louis. "Across the nation, we count people of all backgrounds and stages of life among our most passionate video game players and fans. Interactive entertainment stands today as the most influential form of entertainment in America."
"2018 was another record-setting year for the U.S. video game industry as consumer spending jumped 18 percent to over $43 billion. Whether it was playing on the go on a mobile device or at home on a PC or console, consumers of all ages and interests found compelling content that delighted in 2018," added Mat Piscatella, video games industry analyst for The NPD Group. "Console, PC, and mobile platforms all saw significant growth, while developing portions of the market like subscription and streaming services gave us a peek into a future full of possibilities for the industry and gamers."
There was record growth both in terms of hardware and software revenue last year, with the latter increasing from $30.4 billion to $35.8 billion (18%) and the former going from $6.5 billion to $7.5 billion (15%) in the same time period.
With 150 million Americans playing games, the industry in the US is one of the country's fastest-growing economic sectors, providing over 220,000 jobs. More than 500 colleges and universities across 46 states also offer courses relating to gaming too, including an increasing amount of colleges supporting esports and partnering with esports teams.
Speaking of the NPD, Piscatella also had an interesting prediction for 2019 earlier this month, as he speculated that the Switch will lead hardware in the US this year, adding:
"2019 will be a year of significant change and transition in gaming, and we should not expect to see the kind of growth we've seen in 2018. Switch will pull ahead in Console as we move to predicted 2020 next gen for MS/Sony. Could be a bumpy year."
Can the US gaming market continue to grow this year?