Niko Partners: console market turnover in China will be $1.5 billion in 2023
The ban on consoles in China was lifted just five years ago. To date, the annual turnover of the console market has exceeded $760 million. And, according to analysts, in 2023, the Chinese console segment will cost about $ 1.5 billion.
These data are provided by the analytical firm Niko Partners in their new report. Here are his key points:
- In 2018, sales of console devices and software in China generated $767.1 million in revenue. By the end of this year, console turnover should grow by 11% to $851.1 million.
- In the illegal, “gray market” of China, 730 thousand consoles were sold last year. This is almost twice the legal sales, which amounted to 450 thousand devices. In the current year, the gap will be reduced: 670 thousand consoles will be sold on the “gray market”, and 510 thousand from official retailers.
- By 2023, the annual turnover of the entire market will double (compared to last year). Console sales will be responsible for 25% of the above $1.5 billion, and software sales will be responsible for everything else.
- It is also noted that in the “gray market” of China in 2023, three times fewer consoles will be sold than in the legal one.
The ratio of console sales in the legal and illegal markets of China
Let’s add that in China, this segment is represented by Xbox One and PlayStation 4 consoles.
Currently, Nintendo and Tencent are preparing to officially release the Switch on the Chinese market. Until now, it could only be bought in China through “gray suppliers,” writes VentureBeat.
In addition, according to analysts’ forecasts, a new generation of Xbox and PlayStation consoles will be released in China, as well as around the world. And this will significantly boost the growth of the segment.
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