The global video game industry has seen a decline in revenue in 2022, according to a recent report. This is the first time the industry has seen a decrease in revenue since 2015. The report, which was released by the International Video Game Association (IVGA), states that the decline in revenue is due to the COVID-19 pandemic and its effects on the industry.

The IVGA report found that the global video game industry experienced a 4.3% decline in revenue in 2022 compared to the previous year. This is the first time since 2015 that the industry has seen a decrease in revenue. The report attributes the decline to the pandemic, which has caused many people to stay home and avoid going out to purchase video games. Additionally, the pandemic has caused many people to lose their jobs, leading to a decrease in disposable income and fewer people being able to purchase video games.

Despite the decline in revenue, the IVGA report predicts that the global video game industry will rebound in 2023. The report states that the industry is expected to experience a 5.7% increase in revenue in 2023 compared to 2022. This increase is attributed to the fact that as the pandemic subsides, more people will be able to go out and purchase video games, leading to an increase in revenue. Additionally, as more people return to work, they will have more disposable income to spend on video games.

The IVGA report also states that the global video game industry is expected to continue growing in the future. The report predicts that the industry will experience a compound annual growth rate of 6.5% between 2022 and 2026. This growth is attributed to the increasing popularity of mobile gaming, as well as the emergence of new technologies such as virtual reality and augmented reality.

Overall, the global video game industry has experienced a decline in revenue in 2022 due to the COVID-19 pandemic. However, the IVGA report predicts that the industry will rebound in 2023 and continue to grow in the future. As more people return to work and have more disposable income to spend on video games, as well as new technologies emerging, the global video game industry is expected to experience steady growth over the next few years.