Video games sales in Sweden posted strong current value growth in 2020, at a higher rate than in 2019. This was aided by the COVID-19 pandemic.
Digital entertainment is becoming more and more popular in Sweden, as well as globally. There is a clearly growing preference for digital media and/or video games for entertainment, and from an increasingly younger age.
With the outbreak of the pandemic in March 2020, COVID-19 accelerated the existing shift from video games software (physical) to video games software (digital), mainly online and mobile games. The shift is fuelled by a preference among Swedish households for convenience, availability and instant or on-demand purchasing from home (or any location) and by in-game purchases which are an important revenue stream for games developers and manufacturers.
In Sweden, video games is expected to witness continued strong growth in value sales in 2021 before returning in 2022 to a lower rate similar to that seen in 2019 before the outbreak of COVID-19. The performance of static consoles will be a major driver of the growth of video games in 2021 and in the later years of the forecast period.
Manufacturers do not expect the roll-out of the national vaccination programme and the relaxation of COVID-19 restrictions in Sweden to significantly slow the growth of video games software in 2021. They believe that the gaming habits developed during the period of COVID-19 restrictions will stick among new customer groups.
A potential threat to the magnitude of video games growth rates in Sweden in the forecast period is digital fatigue as work, social and entertainment activity become predominantly online. There is likely to be strong household eagerness to return to physical or “real life” forms of entertainment and activity, as soon as it is possible, and to limit their virtual lives.
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This report originates from Passport, our Video Games research and analysis database.
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