How Big is the Gaming Sector?

The value of the worldwide gaming market has increased from $152 billion in 2019 to $163.1 billion, from $78 billion in 2017. With 2.5 billion gamers worldwide, the video game industry currently makes up more than half of the entertainment business (and 32 million in the UK).

It’s obvious that gaming has replaced other forms of entertainment for many individuals, according to Curtis Bailey. Despite the epidemic, the sector has prospered, and incomes have generally grown globally. But more than simply, the captive audience has contributed to the success of video games. 

In what has been for many a very terrible year, the escapist value of gaming cannot be emphasized, and neither can the social value. Video games turned into a useful and enjoyable way to socialize during the months when we couldn’t see friends and relatives. The ability to play video games is now available to everyone.

Value of the UK’s Gaming Sector Rose

According to a new analysis from international staffing firm Robert Walters, the gaming industry in the UK was estimated to be worth £4 billion in 2020 and is expected to nearly quadruple in value within the following three years to reach $10 billion. According to the research, the only leisure and entertainment sector to “have beaten the odds” during Covid-19 was gaming, which brought in more money than the video, music, and film industries combined during the lockdown.

“Covid-19 has had a significant influence on the gaming industry,” stated Tom Chambers, Senior Manager of Technology at Robert Walters. Gaming has further ingratiated itself into the daily life of several generations as one of the only accessible lockdown pastimes in a world where blockbuster premieres, national athletic events, and hospitality and leisure were all forbidden.

“During lockdown, there was a significant increase in new users trying to overcome the social barrier with friends and family by playing together online — this was especially noteworthy with the over 60’s market who took to gaming to “keep their brain in shape” and play with grandkids.”

The UK is moving toward being a hub for international gaming.

In addition to this anticipated increase in value, the Robert Walters report discovered that the UK gaming industry is expected to become a global hub for gaming as it quickly moves up the rankings, ranking fifth among the world’s largest gaming markets behind the likes of tech-savvy nations like Japan, South Korea, China, and the USA. Along with the sector’s value growth, the UK gaming market has had explosive growth this year, with digital downloads up 67% week over week and physical game sales up 218% during lockdown.

The typical gaming salary rose.

Immersive Report, the average gaming pay increased over the previous 12 months by 4.14%, going from £50,167.75 in 2019 to £52,746.25 in 2020. Individual age groups have their own adjustments, but regardless of whether you’re a rookie employee just starting out or a seasoned pro in the senior management team, it is obvious that there is a considerable wage rise. As the gaming industry gains traction, 67% of the workforce anticipates seeing more growth in 2021.

Brendon Kelly remarked, “As someone who has worked on four continents over the last fifteen years, I can say it’s been a long journey back from the Global Financial Crisis.” Although the incomes of content producers have not increased year over year with the games business, it is encouraging to observe that the trend is in the right direction.

There are more openings for gaming jobs.

Despite the challenges the Covid-19 epidemic presents, gaming firms have seen a spike in open positions. All categories have seen a rise of 20% since last year, with IT employment rising by 43%. Within 5 years, it is anticipated that the sector’s 27,000 present employees would more than treble.

This also applies to the UK gaming industry, as gaming businesses are quickly expanding their hiring in the sales and marketing field in order to better monetize their goods.

The rate of employment market expansion continues Tom Chambers, is one of the most telling signs of the UK’s success in video game creation and sales. Despite having a smaller population than some other nations, the UK has long been a leader in technological development and is home to some of the top game developers in the world.

Where in the World Are the Richest Gaming Jobs?

Surprisingly, California (US), Stockholm (Sweden), London (UK), and Vancouver (Canada) are the top 5 worldwide places for gaming professionals and possibilities. Guildford in Surrey, UK, is also among these top 5. (Canada). 

Guildford, which is sometimes referred to as the “Hollywood of video games,” is the center of the video game industry and is home to several studios and game firms. The USA West employs 31% of all gaming professionals, followed by the USA East (16%) and Europe (24%) in that order.

What Effect Does Mobile Gaming Have?

The gaming business has been greatly impacted by mobile phones. Mobile phones have opened up gaming to everyone when in the past, it was only available to those who purchased specialized gear or software.

As a result, there have been an increasing number of mobile gamers; it is predicted that by 2025, up to 2 billion individuals will play mobile games globally, accounting for 51% of the gaming industry’s total income. Already, more than 50% of gamers use mobile devices, with women favoring these platforms more than consoles or personal computers.

The need for gaming has always been present, but accessibility and availability have always been the hurdles, according to Thomas Shibley, Global Head of Player Support at Wildlife Studios. Gaming is now more accessible than ever thanks to a mix of high-quality gadgets reaching people all over the world and more people having access to high-speed internet. This steadily improving accessibility enables the sector to expand at a quick rate.

The Success of E-Gmaing

Video game-based athletic competition is known as eSports. More individuals are becoming active players in professional video gaming as it begins to receive acceptance from the athletic community. 

This competitive gaming, which is typically played by professionals for cash prizes in huge tournaments, is becoming a significant industry. The Premier League has begun to take advantage of the popularity of football by organizing eSports competitions for FIFA players all throughout the nation. Profit shows how well-liked eSports are in the UK, with Ladbrokes forecasting revenue to top £159 million by 2021.

According to Tom Chambers, the younger generation is moving away from passive pastimes like listening to music and viewing movies and more toward active engagement via playing video games online, even if the UK may lag behind other nations in eSports.

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