Did you know that the gaming industry is the youngest representative of the creative sector? It is among the most attractive and fastest growing industries in the sector. The gaming industry is experiencing a growth trend unlike many other areas related to culture and entertainment. The gaming market is a fast-growing entertainment industry, generating huge profits in the age of ubiquitous computers, tablets, smartphones and other technology. Nowadays, games are created for a specific group of users, taking into account their needs and expectations. Its characteristic feature, therefore, is its great flexibility to adapt to the expectations of the audience, thanks to which it generates huge revenues. The game market is developing dynamically, becoming an important part of the industry and mass culture. On the one hand, it represents e-entertainment, and on the other, it is an attractive labor market for highly skilled workers such as programmers, graphic designers, scriptwriters and game testers.
Global game market
According to the report “Global Entertainment & Media Outlook 2021-2025”, created by PWC, it is estimated that the global entertainment and media market will grow, with revenues from digital products accounting for an increasing share of the industry’s income. In 2020, the entertainment and media market reached more than $203 billion.
As of 2019, the Covid-19 virus was spreading around the world, causing more countries to gradually impose various restrictions on, for example, the movement of people. However, all these roadblocks and restrictions have not reduced the momentum of the entertainment industry, in fact, they have even accelerated it. It is expected that habits developed during the pandemic, such as product digitization and online sales, have already been ingrained in consumers and will continue to thrive. For industries such as cinema, live music and trade shows, the spread of the virus has not been favorable, while it has been more favorable for the gaming, series or other digital entertainment industries, accelerating their growth.
According to forecasts, the entire entertainment and media segment is expected to grow steadily from 2021 to 2025, reaching $260 billion in 2025 at a five-year CAGR of 5.0%. The global game market will grow at a CAGR of +8.7% (from 2019 to 2024), reaching $218 billion in 2024. – $218 billion.
Asia-Pacific is the largest region in terms of game profits, reaching $88.2 billion in profits in 2021, accounting for 50% of total game revenue. China is the undisputed leader in Asia-Pacific, with $45.6 billion, accounting for more than half of the region’s profits. In second place is North America with a value of $40 billion. Third place goes to Europe with a value of nearly $30 billion. This is followed by Latin America with $6 billion and the Middle East including Africa with $5.5 billion
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