In 2019, Chinese console and TV games generated $997 million in revenue, with the total number of Chinese console players reaching 11 million, according to market research firm Niko Partners.
Niko Partners expects that by 2024, the Chinese console and TV games market will see revenues increase from Growing from $997 million to $2.15 billion in 2019, the total number of gamers will reach 19.15 million.
Niko Partners says this figure for Chinese game console market revenue includes not only regular sales channels, but also Revenue from the "grey market", including hardware and software. The grey market is actually the illegal sale and use of game consoles in China.
In the past few years, the majority of China's console market revenue has come from grey market product revenue from game consoles, as console sales in China have previously been in the "grey market". It's banned in China.
But starting in 2014, China has slowly expanded the PS4, Xbox One, and more recently the entry of the The Switch's official licensed market.
Niko Partners expects official version console sales to grow from 460,000 units in 2019 to 2024 of 975,000 units, but gray market mainframe sales are expected to fall from 1.18 million units in 2018 to 2024's 1.02 million units.
Niko Partners' data is based on a survey of 24,000 gamers in major Chinese cities in March of this year. Survey Draws.
Niko Partners says previous slow growth in China's console market was largely due to the game approval and regulatory environment. There is also a lack of investment in the home game console industry.
Sony previously launched its "China Star" program to fund Chinese game developers. Now giants such as Tencent and NetEase are exploring console games with the aim of attracting both overseas and domestic console gamers.
According to the report, the PS4 is the current market leader, but will be overtaken by the Switch at a much faster pace.
The next-gen console PS5 and Xbox Series X (which is expected to launch in China in 2021 in licensed versions) will to be the main driver of growth in the Chinese console market.
By 2024 (within 5 years), the future growth of the domestic console market will be largely influenced by the continued popularity of the Switch, and the The launch of the PS5 and Xbox Series X, as well as overseas and domestic publishers for the console's HD games Rising demand will also drive growth in the domestic market.
Game consoles have long been a niche product in the Chinese gaming market, not only because they were once banned from sale, but also because the One reason is China's free-to-play culture on PC and mobile phones.
The Chinese console market is often overlooked because revenues are much lower than PC and mobile games. But console makers can still make relatively significant revenues once they overcome issues such as cost and piracy.
