Over the past few years, computer games have evolved from entertainment to a massive industry with annual revenues in the hundreds of billions of dollars.
The global video game market is growing steadily, taking away the revenue and advertising time previously allocated to pay TV, video streaming services (Netflix, Hulu, HBO Max, Amazon Prime Video), and cinema.
According to Google’s research conducted during the pandemic, the global gaming market grew by 23.1% in 2020, the highest rate in the last decade. The global game development industry is expected to reach $200 billion in 2023 and $218.7 billion in 2024.
More than a third of the world’s population plays video games, and the number of game console owners aged 35-44 exceeds the number of young people aged 16-24.
Therefore, companies spend hundreds of millions of dollars on game development, collecting no less revenue from the market.
The gaming industry is constantly evolving. In 2023, gaming will continue to rely on a combination of technologies, including game engines, VR and AR, mobile development, cloud gaming, and cross-platform solutions. These technologies are expected to help developers create more immersive products, as well as provide users with more options for how and where they can play their favorite games.
Interesting and useful information about the gaming industry can be found at https://gamedev.dou.ua/. The vacancies section of https://gamedev.dou.ua/jobs/ contains up-to-date information on the job market in gaming.
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