We’re a full quarter into 2024, but it’s time to take a look back at what happened last year.

The UKIE has finally wrapped work on its latest Consumer Market Valuation Report, which aims to show a complete picture of what went down in the gaming sector each year. Turns out 2023 was quite a good year for gaming in the UK, as most numbers increased across the board.

Here’s a breakdown of the bigger points for gaming in the UK for 2023:

  • games market was worth £7.82 billion in 2023, a 4.4% increase compared to 2022
  • Software sales: £5.18 billion (+4.1% year-on-year)
  • Hardware sales: £2.22 billion (+2.1% year-on-year)
  • Revenue from film, TV, and soundtracks based on game IPs: £124 million
  • box games sales were down 5% to £495 million compared to 2022
  • digital console software sales were up 5.6% to £2.48 billion
  • hardware sales increased 12% compared to 2022 to £951 million
  • Diablo 4, Hogwarts Legacy, Spider-Man 2, Super Mario Bros Wonder, Tears of the Kingdom, EA Sports FC 24, and Baldur’s Gate 3 all contributed to the health of the market
  • the decline in boxed software sales was better than expected due to strong releases and the “Zelda effect” on Switch
  • PS4/PS5 boxed sales overtook Switch sales

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