Although far behind China and the United States as the two leading gaming markets, the European video games industry has also seen its revenue and the number of users explode over the years.
According to data presented by MejoresApuestas.com, the number of gamers in Europe is forecast to jump more than 351 million by 2023, nearly half of its total population.
As one of the fastest-growing entertainment industries globally, video games created a massive player base on the Old Continent. Today, some of the world’s best eSports players come from Denmark and Finland, while the United Kingdom, Germany, France, Italy, and Spain all ranked among the top ten gaming markets globally.
Before the pandemic, the number of gamers in Europe had been growing steadily, rising from 259.5 million in 2017 to 278.5 million in 2019, revealed the Statista survey. However, the COVID-19 boosted the growth of the European gaming market, with millions of Europeans turning to video games amid the lockdowns.
Statistics show more than 51 million Europeans started gaming since the pandemic struck, with the total number rising to 329.5 million in 2021. The number is expected to continue growing in the following years and hit over 367.4 million by 2025.
The Statista data showed most Europeans, or 201 million, play mobile games. This figure is set to rise to 218 million in the next two years. Download games represent the second-largest segment with 182.7 million users by 2023, up from 177.8 million in 2021. Online games follow with 108 million users by 2023, respectively.
European gaming revenues to grow by $5b in the next two years
Besides impressive user base growth, the European gaming market is expected to witness substantial revenue increase in the following years.
In 2021, the revenues are forecast to hit $23.5bn, up from $21bn a year ago. By 2023, this figure is set to reach $28.5bn and continue rising to $32.6bn by 2025.
The United Kingdom, as the largest gaming market in Europe, is expected to generate $6.1bn or 25% of combined revenues this year. Far behind the UK, Germany ranked as the second-largest market with $2.6bn in revenue. France, Italy, and Spain round the top five list, with $2.6bn, $1.9bn, and $1.2bn, respectively.
Statistics show the combined revenues of the top five gaming markets in Europe are expected to grow by $3.1bn and hit $17.7bn by 2023.