UK Video Games Market Shrinks to £7.05bn in 2022.

The UK video games market saw a 5.6% decline in spending on software, hardware, and other related products in 2022, dropping to £7.05 billion. However, this is still 17% ahead of pre-pandemic levels and above the projected growth for 2020 to 2022 based on 2019 data. Software spending remained relatively flat, with mobile and digital PC revenues driving growth. Hardware sales declined across the board, but this was expected due to supply issues and the current stage of the PS5 and Xbox Series X and S lifecycle. The market valuation report also included games culture products, ranging from toys, books, and merchandise to events and video content.