Ampere Analysis: Console market dipped to $56.2bn in 2022
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A new report by Ampere Analysis estimates that spending on console games, hardware, and services declined in 2022, totaling $56.2 billion.
The data and analytics firm attributed the gaming market's decline to supply chain shortages for the PlayStation 5 and Xbox Series X|S consoles.
Ampere Analysis' report notes that the PlayStation 5 reached an installed base of 30 million. Meanwhile, the lifetime sales of Xbox Series X|S units hit 18.5 million.
By comparison, the Nintendo Switch (which launched more than three years earlier) ended last year with an installed base of 119.5 million.
In the company's report, research director Piers Harding-Rolls said in part, "While there were some great games in 2022 that sold very well, there were also delays to major games that impacted the chance for premium games sales.
"A mix of a post-pandemic shift in consumer attention and the cost-of-living squeeze contributed to in-game spending softening from its high in 2021 as mainstream users dialed down their outlay."
In Ampere's assessment, Sony had the lion's share of the console market at 45%. Nintendo commanded 27.7%, while Microsoft controlled 27.3%.
The report attributes Sony's command of the console market to sales of the "relatively expensive" PlayStation 5 hardware.
Although the number of users subscribing to console subscription services was down, the firm said spending on subscription services was up thanks to the multi-tiered strategies of Microsoft, Sony, and Nintendo.
Additionally, the report said console game sales numbers fell 7% compared to 2021, with in-game monetization and downloadable content spending down almost 15%. Ampere attributed
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