UK Gaming Market Sees Slight Decline to £7.05bn in 2022

The UK's video game market experienced a minor contraction in 2022, with total spending on games, hardware, and related products reaching £7.05 billion. This figure represents a 5.6% decline from the record-breaking £7.47 billion achieved in 2021, marking the first decrease in spending since 2019. However, the 2022 total surpasses pre-pandemic levels by 17% and exceeds projected growth based on 2019 data. According to the UKIE's latest market valuation, which draws on data from various sources, the UK gaming market's total value stands at £7.05 billion. The software sector saw a modest increase of 0.44% to £4.57 billion, driven by growth in mobile and digital PC revenues. In contrast, hardware spending declined by 19% to £2.16 billion, while game culture spending rose by 27% to £316 million. Notably, the biggest-selling games of 2022 included FIFA 23, Call of Duty: Modern Warfare 2, and Lego Star Wars: The Skywalker Saga, with UK-developed titles accounting for 16% of software spending. The market valuation report also highlights a 7.7% increase in toys and merchandise sales, with Pokémon being the top seller. Events revenues saw significant growth, with notable successes including the return of Insomnia and the Pokémon World Championships. UKIE CEO Dr. Jo Twist noted that the UK video games consumer market has maintained its growth trajectory, with a strong appetite for games and games culture remaining in the UK.