UK games market dipped to £7.05bn in 2022

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The UK video games market shrank slightly in 2022, with spending on software, hardware and other related products slipping to £7.05 billion.

This is 5.6% less than the record-breaking £7.47 billion achieved in 2021, and marks the first decline in spending since 2019.

However, the 2022 total is still 17% ahead of pre-pandemic levels and still above the projected growth for 2020 to 2022 based on 2019 data.

The figures come from the latest UK games market valuation by trade body UKIE, which draws on data from ABC, BFI, GfK Entertainment, Nielen, NPD, The Official Charts Company and Omdia.

Here's what you need to know:

Total UK games market value: £7.05 billion (down 5.6% year-on-year)

SoftwareTotal software spending: £4.57 billion (up 0.44%)Digital console: £1.98 billion (down 4.7%)Digital PC: £660 million (up 2.2%)Boxed games (PC & Console): £489 million (down 4.3%)Pre-owned: £21.3 million (down 37%)Mobile: £1.43 billion (up 11%)

HardwareTotal hardware spending: £2.16 billion (19%)Console hardware: £823 million (down 27%)PC game hardware: £760 million (down 14%)Console game accessories: £396 million (down 16%)VR hardware: £171 million (down 6.6%)

Game CultureTotal culture spending: £316 million (up 27%)Toys and merchandising: £196 million (up 7.7%)Books and magazines: £13.9 million (up 17%)Film, TV and soundtracks: £64.8 millionEvents and venues: £4.35 millionSteaming and game video content: £47.4 million (down 4.8%)

Software spending remained relatively flat, partly due to the growth in mobile and digital PC revenues. While mobile is a significant force in the market, UK games spending continues to be driven by consoles, particularly