September 21, 2021

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The Console Market Generated A Record-Breaking $53.9 Billion In 2020

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A record-breaking $53.9 billion was spent on consoles and their respective services in 2020.

2020 will be a year that lives forever in world history. A pandemic gripped the world almost exactly a year ago, forcing many of us to stay at home with very little to do. Those of us with consoles used them more than ever, and people without one gave gaming a go to fill up their unexpected free time. So many people picked up consoles in 2020 that a record amount of money was spent in the market.

$53.9 billion according to Gamesindustry.biz. That number includes money spent on console hardware, games content, and related services. For comparison, $45.2 billion was spent on the same department in 2019, meaning business grew by a very healthy 19%. Pandemic or not, the console market shows no signs of slowing. Ampere Analysis predicts it will rise again this year and hit somewhere in the region of $58.6 billion.