Video gaming is one of the fastest-growing sectors in the industry. This segment was among the few businesses that thrived during the outbreak of the COVID-19 pandemic. The video game industry includes the creation, promotion, and monetization of video games. Video gaming comprises different modes of gaming, including console gaming, mobile gaming, and PC gaming.
Moreover, the roll-out of 5G/High-speed internet services globally has aided the growth of the video gaming segment.
The market size of console gaming in UK reached a value of $3.6 billion in 2021. UK is the second largest market for the console gaming segment globally.
The console gaming market in UK grew by 20% in 2021 as the demand for video gaming increased following the shutdown of outdoor games owing to the pandemic and people globally spent most of their time at home due to the lockdowns. However, in the initial phase of the pandemic video gaming segment too saw some supply disruption which lowered consumption even though there was demand from consumers.
Moreover, video gaming was among one the few industries which had a positive effect due to the pandemic. The consumption of video gaming was further aided by growth in the increased internet penetration. However, in the initial phase of the pandemic video gaming segment too saw some supply disruption which lowered consumption even though there was demand from consumers.
The major companies that have a strong presence in the console gaming market include Tencent, Sony, and Outplay Entertainment.
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