Video gaming is one of the fastest-growing sectors in the industry. Video gaming comprises different modes of gaming, including console gaming, PC gaming, and mobile gaming. The market value of video gaming reached $176 billion in 2021. The video gaming market grew by 13% in 2021, as the entry of many new companies increased demand for games.
The video gaming industry was among the few businesses that thrived during the outbreak of the COVID-19 pandemic. It includes the creation, promotion, and monetization of video games.
The video gaming industry has been adopting new strategies to address customers’ growing demand and make their experience more user-friendly. One such strategy by the video gaming industry is the migration from console gaming to mobile gaming, making games accessible across a wide spectrum of digital platforms. Many companies in the gaming industry are bringing digitization and user-friendly engagement to their gaming platforms to enhance the user’s gaming experience.
The UK is the fifth biggest market in the video gaming industry with a value of $7 billion in 2021, accounting for 4% of the global market size. It surpassed France in 2021, which was the fifth biggest market globally for many years before 2021. With $3.7 billion in Console gaming, $1.8 billion in Mobile gaming, and $1.4 billion in PC gaming, the UK is among the top countries in all segments and is one of the fastest-growing markets.
The video gaming market in the UK grew by 23% in 2021 as the demand for video gaming grew as indoor game activities increased following the shutdown of outdoor games owing to the pandemic and people globally spent most of their time at home due to the lockdowns. The highest growth was seen in the mobile gaming segment, as the UK saw an increase of 28% in market value from the previous year.
The UK has been among the biggest markets for video gaming for many years and is growing at a good pace. The major companies that have a strong presence in the video gaming market in the UK include Bossa Studios, Chucklefish, Sony, and Playtonic Games Ltd.
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