Video games hugely benefitted from COVID-19 in 2020 and the ensuing lockdowns, with healthy double-digit value growth that was more than three times the value growth registered in 2019. Lockdowns led to a shift to entertainment at home, with video games also benefitting from their social aspect (especially online competitive gaming).
There is a new leader, with Nintendo edging passed Microsoft for the first time, thanks to the increasing popularity of its consoles, with Nintendo Switch registered a healthy increase in value sales of its handheld consoles. There were also launches of new consoles by Sony PlayStation 5 and Microsoft Xbox Series.
E-sports saw a significant spike in Canada in 2020, with digital communication and conversations between gamers on social media skyrocketing. The shutdown of competitive sports events in 2020 sent more gamers towards virtual e-sports, with this trend expected to gather momentum over the forecast period.
The outlook is very positive over the forecast period, as consumer increasingly look for digital entertainment and shun more traditional toys. The age range of gamers will widen and the consumer base will continue to grow.
Next generation static game consoles like Xbox Series and PlayStation 5 will continue to be highly desirable amongst hardcore gamers and both players will continue to enhance gaming experiences. They will also overcome the supply disruptions caused by COVID-19.
With sports events cancelled in 2020, many sports fans turned to e-sports to give them the same buzz. There will be a return to live sports in 2021, though not at full capacity and so there will continued strong growth in e-sports in 2021.
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Understand the latest market trends and future growth opportunities for the Video Games industry in Canada with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
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This report originates from Passport, our Video Games research and analysis database.
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