How big is the UK video game industry?

How Big is the UK Video Game Industry?

The UK video game industry is a significant contributor to the country’s economy, with a market size that continues to grow. In 2022, the UK video game market was valued at £7.16 billion, a 2% increase from the previous year. This makes the UK the second-largest video game market in Europe, after Germany, and the sixth-largest globally.

Market Size and Growth

The UK video game market has experienced steady growth over the years, driven by the increasing popularity of gaming among consumers. According to a report by IbisWorld, the market size of the UK video game industry is expected to reach £9.98 billion by 2023, representing a compound annual growth rate (CAGR) of 5.6%.

Contribution to GDP

The video game industry’s contribution to the UK’s GDP is also significant. In 2021, the industry contributed £3.68 billion to the UK’s GDP, the highest recorded figure since 2011. This represents a 0.2% increase in the UK’s GDP.

Employment and Job Creation

The UK video game industry is also a significant employer, with over 2,555 games businesses based in the country. These businesses employ over 11,000 people, with the majority working in game development, publishing, and distribution.

Esports and Gaming Culture

The UK is also home to a thriving esports scene, with 43% of UK consumers who game currently watching esports. This presents a vast audience for esports, with the potential for growth and development in the industry.

Professional Gamer Salaries

For those who make a career out of gaming, the UK offers a range of job opportunities. According to Glassdoor, the average salary for a professional gamer in the UK is £34,963 per year, with additional cash compensation ranging from £2,321 to £9,551.

Gaming Industry Breakdown

Here is a breakdown of the UK gaming industry:

Conclusion

In conclusion, the UK video game industry is a significant contributor to the country’s economy, with a market size that continues to grow. The industry employs thousands of people, and offers a range of job opportunities for those who make a career out of gaming. With a thriving esports scene and a growing audience, the UK is an attractive destination for gamers and game developers alike.