Industry analysts continue to say that the games market will experience a decline this year. According to the NPD Group, US consumer spending will fall to $55.5 billion in 2022, which is down 8.7% year-over-year.
- This number is nearly on par with the 2020 level of $56.1 billion and is a little over the $43.4 billion that US consumers spent in 2019.
- As pointed out by analyst Mat Piscatella, the decline is happening due to the “return of experiential spending, higher prices in everyday spending categories such as food and fuel, the uncertain supply of video game console hardware and certain accessories such as gamepads, and a lighter release slate of games, among others.”
- On top of that, the spike in game spending that happened during 2020 and 2021 has leveled off due to the lifting of Covid restrictions.
- The NPD Group expects Nintendo Switch to become the best-selling console in the US this year, with Xbox Series X|S being the only platform to experience a growth in dollar sales.
- Elden Ring will end up as the best-selling premium game of the year, becoming only the third title since 2009 to dethrone Call of Duty.
- Other games in the top 10 include God of War Ragnarök, Call of Duty: Modern Warfare 2, LEGO Star Wars: The Skywalker Saga, NBA 2K23, and Pokémon Legends: Arceus.