A new study by TechNET Immersive found the gaming industry to be valued at $163.1 billion. With that, the sector is responsible for more than half of the value of the entertainment industry, confirming the already known statistic that it is bigger than the movie and music market together!
By the report, there are 2.5 billion players worldwide, with China representing a fifth of the total. It is estimated that 74.5% of people in Brazil are fans of electronic games — an increase of 2.5% compared to previous years —, as shown by the Game Brasil 2022 Survey.
The market saw high growth in 2020, due to the pandemic. The estimate from the same study is that the sector was valued at US$ 152 billion in 2019. “It is difficult to know how much COVID-19 has impacted the entertainment industry. But one thing is clear: with cinemas, theaters, concerts and sporting events closed around the world, it seems that, for many people, games have become the first form of entertainment”, points out Curtis Bailey, Director of Development at TechNET.
Not only did demand increase, but so did workers’ wages. According to the survey, 69% of respondents at work had an increase in 2020. However, 16% said they had a reduction due to fewer hours worked during the pandemic.
The work focuses on employees of the games industry in the United Kingdom and shows that the majority develop for smartphones (37%), followed by PlayStation (27%) and Xbox (22%). Only 3% of the local industry focuses on Nintendo Switch games.
Source: Canaltech