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The gaming market globally is growing. It is estimated to reach USD $245.10 billion in 2023 and continue to grow at an average rate of 8.94% between 2023-2028, and Australia isn't left quite far behind in the chart.
Consumer data from the Interactive Games & Entertainment Association (IGEA) released in June 2023 valued Australia's games industry at $4.21 billion, a great number considering the current world estimation.
In 2022, the Australian gaming market expanded thanks to the release of newer software and the availability of better hardware in contrast to 2021. The software market, in particular, experienced over 10% growth in value spent.
This can largely be attributed to consumer behavior. The growth in spending paved the way for substantial growth in software sales. In turn, it raised the purchases of new releases instead previously produced titles.
The availability of consoles and hardware games has also contributed to the growth of the Australian Gaming Market. In the past year, the PlayStation 5 sales have increased by over 17%, while the Xbox series saw an increase of +15%.
Nintendo Switch still retained the title of the best seller hardware gaming platform in Australia despite the availability of improved consoles like PS5.
Nevertheless, Australians now have access to the newest consoles compared to previous years, which saw a surge in retail sales. According to IGEA, Australians spent over $1.15 billion on retail outlets. This includes a 7% increase in software and hardware purchases.
Additionally, the number of household gaming devices has increased by 94%.
The market has remained impressively stable since the wide adoption of mobile gaming in Australia. The recent IGEA report shows over $1.56 billion was spent on mobile games in 2022. This is a 3% increase compared to the year before.
Tom Wijman, a Lead Analyst Games at Newzoo, said, "Australian players' spending habits outperformed the global average, which saw a yearly spending decline. Australian players' appetite for multi-game subscriptions is also clear: growth in this category outpaced the global average by nearly +5%."
The same is reflected in online casino games, whose growth was favored by the penetration of smartphones and tablets. In 2022, the Australian Communication and Media Authority (ACMA) discovered that one out of 10 Aussies participated in online gambling at some point in the last six months. This is an 8% increase from 2020.
As more real money pokies apps offering a convenient way for players to engage in online gambling continue emerging, we can only expect the figure to go up. These apps provide players with a seamless and accessible platform to enjoy a wide range of pokies games, from classic titles to innovative and themed slots, all from the comfort of their mobile devices.
A significant number of Aussies are currently considered gamers. According to new research by IGEA and Bond University, 81% of Australians play video games, featuring a 21% increase since 2021. Interestingly, this means that people who don't game in the country are a minority. Teens and adults have the highest percentage.
Even families are now using games as bonding agents. 91% of parents use video games to connect with their children and support cognitive development.
On average, Australian gamers spend 90 minutes daily in console, PC, or mobile gaming. Dr. Jeffery Brand, a professor at Bond University, recently said, "There is no denying the significance of video games in the lives of everyday Aussies."
Regarding demographics, Australia is witnessing an upsurge of female gamers. 48% of gamers in the country are female, which is an increase of about 2%. One interesting fact is in elderly individuals over 65 years, women are more likely to play video games than men.
Video games are also creating a sense of togetherness. Research shows that 75% of Aussies enjoy playing video games with one another.
In terms of professional gaming, Australia ranks at position 15. As per the esports country ranking, Australia earned USD $28,168,952.65 across 3031 tournaments. Generally, there have been 3,450 Australian esports players.
The top awarding game over the years has been Dota 2, which accounts for 28.53% of the total revenue. In 2022, there were 661 active esports competition players from Australia.
The Australian Gaming Market has also seen Twitch streamers and visitors increase. Aussie Twitch Streamers have increased 350% in the last few years. Actually, the country boasts of 4.1 million visitors on Twitch per month. However, it is essential to note that some streamers joined Twitch for non-gaming countries.
Some of the best Twitch Streamers are from Australia. A good example is Loserfruit, who is among the world's renowned streamers with over 2.88 million followers. She earns approximately USD $51,000 a year from Twitch alone and an estimated USD $120,000 across all streaming sites.
The Australian gaming market has seen an upsurge across all entities, from mobile gaming, gaming habits, console purchases, and even professional gaming. Physical retailers continue to play a significant role in gaming distribution. As technology continues to revolutionize and newer games and software hit the market, we hope to see more enormous growth in the Australian gaming market.
