In 2021, the Chinese console market surpassed the $2 billion mark for the first time, according to Niko Partners. However, most of its revenues are coming from grey market sales.
Key takeaways
- The console market in China generated $2.16 billion in 2021, which is up 17% year-over-year.
- Niko Partners expects the market to reach $2.53 billion in 2026.
- 79.6% of total revenues are coming from grey market sales of consoles, games, and services. It is worth noting that China lifted its 15-year ban on consoles in 2015, so there is still the lack of licensed titles available.
- “The demand for consoles comes from not only higher levels [of] spending by gamers, but by a niche set of gamers seeking high quality, global games beyond what is found in PC and mobile games in China,” Niko Partners founder Lisa Hanson said (via GamesIndustry.biz).
- The total number of console players in China reached 15.9 million in 2021 (up 18.3% year-over-year) and is projected to reach 27 million in 2026.
- Nintendo Switch is now the best-selling console in the country. PS5 and Xbox Series X|S, which launched in China last year, were the main drivers of the market’s growth.