What Does Global Gaming Industry Growth Look Like in 2021?
We've all seen how much success the gaming industry has had in light of the COVID-19 pandemic.
Due to their increased time at home, gamers have had the opportunity to download and purchase new games and consoles, and so much more.
The gaming industry outperformed both movies and sports combined last year as the biggest moneymaker in entertainment. In fact, on a global scale, the gaming industry was valued at $162.32 billion in 2020. Based on the current growth rate, it’s expected to reach a value of almost $300 billion over the next five years.
Each region of the world showcases different aspects of gaming’s success, with each contributing to overall global growth for the gaming industry.
The Asia Pacific region accounts for the largest revenue source within the gaming industry. While the Southeast Asian population continues to grow, so does the number of gamers. Mobile gaming in particular continues to rise due to free-to-play options.
While esports is relatively new to the Southeast Asia region compared to traditional gaming, it is quickly becoming the most popular type of gaming.
During 2021, the number of mobile gamers in Southeast Asia is estimated to increase to 250 million.
Africa and the Middle East
Forbes deemed the Middle East a new leader within the gaming industry, with regional gaming revenue expected to reach $6 billion this year.
Similarly to Asia Pacific, esports has become an extremely popular type of gaming within the Africa and Middle East region. This is partly due to their young population and some of the highest mobile infiltration in the world.
The Middle East and Africa present a strong opportunity for gaming because the combined region is home to one of the most spoken languages in the world: Arabic. With less than 1% of games localized into Arabic, this has created an appetite for growth to help build the industry by developing and localizing games for the Africa and Middle East region.
In 2020, gaming made up 3% of the overall revenue in Europe with 51% of residents playing.
Over the past six years, revenue has grown by 55% across all European markets involved in game development, creation, or playing.
The gaming industry continues to thrive across the region, with countries such as France, Germany, Italy, Spain, and the UK, among others, supporting gaming companies and developers who are continuously creating games.
Some of the largest names in gaming—industry veterans such as Tencent, Activision, Blizzard, Ubisoft, and Zynga—operate in the region. This influx of games in Europe has led to people playing on average 8.6 hours per week.
Just like every other region, the Americas had their most successful year of growth in terms of the gaming industry. Specifically, in North America, the industry continues to evolve due to technological changes that enhance gaming, such as augmented and virtual reality.
Additionally, with the launch of cloud gaming, the number of internet game players has increased almost 100% midway through last year. Especially during lockdown, more and more people turned to gaming, with every three out of four people playing video games. This helped increase the growth of gaming within North America.
Some of the fastest growing gaming markets are in South America where users mainly play online games, accounting for an increase in the global online gaming sector.
With the explosive growth of the gaming industry around the world, it’s a crucial time for industry players to make sure their games are accessible to everyone—no matter what language they speak or what country they’re in.
If you’re looking to for a partner to help increase your gaming revenue, look no further than TransPerfect. Email us at firstname.lastname@example.org for more information.