Following my presentation at the Dragon’s Den session, I realized the need to quantify the scale and opportunities within the gaming industry and the gaming hobby itself. Despite my background in the area, I lacked specific quantifiable insights, so I wanted to do a thorough exploration of recent data to allow myself to better communicate the scope of this project’s opportunity.
Global Gaming Market: A Comparison
In 2020, the global gaming market reached a valuation of 159.3 billion, including revenue from console games, PC games, mobile games, and esports. To contextualize this scale, Gavin Divers highlights, “The music industry was valued at $19.1 billion in 2020, while the movie industry was valued at $41.7 billion. That means the gaming industry is making more than three times as much money as the music industry and almost four times as much as the movie industry” (Divers, 2020).
UK Gaming Statistics: A Look at the Demographics
Gaming is really popular in the UK, it reflects global trends but also highlights some unique regional specifics. According to online gaming statistics collected by Uswitch, a significant portion of young adults aged 16-24 are engaged in video games, with 71% actively participating in gaming (Baker, 2024).
The engagement with online gaming in the UK is most common in 12-15 years old, with over 76% stating that they play online games (Baker, 2024).
Moreover, gaming extends beyond casual play on the mobile phone among children aged 7-18. Over two-thirds (68%) own their own games console, with an additional 9% having consistent access to a console (Baker, 2024). This level of investment in gaming from a young age suggests that as these individuals grow older, the scale of opportunities and challenges within the gaming community with also likely expand.
References
Divers, G. (2020) ‘Gaming Industry Dominates as the Highest Grossing Entertainment Industry’, GamerHub. Available at: https://gamerhub.co.uk/gaming-industry-dominates-as-the-highest-grossing-entertainment-industry/ (Accessed: 10 June 2024).
Baker, N. (2024) ‘Online Gaming Statistics’, USwitch. Available at: https://www.uswitch.com/broadband/studies/online-gaming-statistics/ (Accessed: 10 June 2024).