The video gaming industry is definitely no game. Many saw the potential long ago, while others are still waking up to it. It’s a huge industry that has seen tremendous growth in the past decade, and in particular in 2020.
If you believe that stadiums and arenas are reserved only for football, tennis, concerts and other sporting or cultural activities, think again. Before 2020 threw us a huge curveball, excited fans would meet up in some of the world’s largest venues to cheer on their favourite esports teams.
However, it’s not only about PC or console games, we now also have social media and phones that have more computing power than Voyager 1. The industry comprises the development, marketing and monetization of video games encompassing a legion of jobs employing thousands of people.
The (Big) Year for Gaming
2020 brought a unique growth to the industry due to Covid-19 safety measures because what can you do when you can’t go outside? You Netflix and game of course 🙂 The market was up roughly 23% when compared to 2019, generating a whopping 177.8 billion dollars and surpassing many other entertainment industries.
Because of this unique growth due to highly unexpected circumstances and a couple of other influencing forces like the shortage in the semiconductor chip industry, 2021 is the first year in a long time when the market is predicted to contract very slightly. Expected to hit 175.8 billion, a roughly 1.1% decrease according to Newzoo analysis. However, experts say that in the mid to long run, the industry will continue to see a healthy increase – on track to surpass $200 billion in 2023. And we can definitely see why.
Professional gaming is no longer an abstract construct that would make parents laugh and scoff at the same time. Now it’s a real job, raking in huge wins if you manage to make it to the top. To give one example, large studios like Valve saw this from miles away, and are already organizing their 10th DoTA competition where the total prize pool is $40 million. For now it’s the largest in esports history but more and more competitions across a large variety of PC and console games are upping their prize pools as well.
Beyond PC, console, mobile gaming, we also have a growing phenomenon of social connectedness on platforms like Twitch and Discord where players all across the world can watch their favourite streamers and interact with one another.
The community is large and growing by the minute. Thus, it’s an understatement to say that studios and developers need to ensure their games are available and accessible to everyone so they can effectively compete in this global market. That means having a proper translation for each country and language is crucial, one that conveys the same joy and experience to new players discovering how to play.
If you’re looking for a reliable partner to help you successfully conquer new markets with your awesome game, let us know! We are always excited for an introductory call to learn more about your business and upcoming projects. We are an international translation company, with experience in multiple industries and in particular, gaming.
You can contact us here: www.publitrad.ro/contact/