What They Say
TechNET has forecast that the video games market will hit $163.1 billion this year, up from $152 billion in 2020 and up a long way from $78.1 billion in 2017.
The video game sector now accounts for more than half of the entertainment market – more than video and music combined. There are currently 2.5 billion gamers worldwide, with China having the most at 500 million, followed by the USA with 167 million, and the EU having 243 million. The UK has 32 million gamers.
The full study can be found here, with highlights below:
Highlights:
- Guildford and London revealed as top UK locations for gaming professionals and salaries
- Stockholm revealed as best in Europe, California and Vancouver best in US and CA
- 53% of all game developers develop first for PC and Mac
- Smartphone development (37%) more common than PlayStation (27%) and Xbox (22%)
- Nintendo Switch rarest console to develop for, employing just 3% of the market
- Average gaming salary has grown 4.40% from 2019 and 2020 – £54,865.50 to £57.297.75
- 69% of gaming salaries increased worldwide in 2020
- 16% saw salary decreases due to reduced hours following Covid-19 crisis
- See the full breakdown of average gaming sector salaries across the UK
What We Think
It’s amazing to me that the segment has grown as it has. I remember the days when it was little more than a ‘cottage industry’. However, it’s not really surprising. As Andy Groves famously said “There’s a battle for eyeballs” or words to that effect. As he said back at Comdex ’96, where they spend their time, they will spend their money! (BR)
This forecast from Statista is consistent with the numbers in this article
