Consumer demand for video game hardware, software and accessories continues unabated. The games market saw a 16% revenue uptick in October to a record $4.39 billion, from revenue of $3.78 billion in the previous-year period, according to new data from The NPD Group. That’s the sixth-consecutive month of revenue increases across all market segments.
Through 10 months of the year, consumer spending exceeds $46.7 billion, up 12% from $41.7 billion during the same period last year.
Despite ongoing product shortages, game console sales skyrocketed 82% to $472 million, from $259 million last year. Accessories increased 5% to $158 million, from $150 million. Video game revenue increased 11% to $3.75 billion, from $3.38 billion. Mobile gaming revenue jumped 12% to more than $2 billion, from $1.78 billion last year.
Nintendo Switch regained the monthly hardware sales No. 1 ranking after months of Sony PlayStation 5 domination. Through 10 months, the PS5 leads in revenue while the Switch leads in unit sales. Nintendo recently announced it was considering a next-generation Switch, which was last launched in 2017.