17 Sep Gaming Industry in Europe – It’s Growing Fast
Did you know: The total revenue for the video gaming industry in Europe was 23.3 Bil Euros in 2020. Why is that fascinating and why should you keep a watch on this growing market.
According to a report by the Interactive Software Federation of Europe (ISFE) and the European Games Developer Federation (EGDF), the market increased by 22% year over year in 2020, accelerated by the pandemic.
To breakdown the 23.3 Bil Euros spent, 44% was made up from console revenues, 40% accounted by smartphones, a lower 14% came from PC revenues, and about 2% was made up from on-demand/streaming.
Though the revenue generated from streaming services has a lower share, it still rose from 341 Mil Euros to 397 Mil Euros, a 16.5% increase that is expected to exponentially grow in future.
The global esports space is projected to continue growing in the coming years – the market hit a 1 Bil Euro valuation in 2021, increasing from 947 Mil in 2020.
According to Bloomberg, esports is a niche market that has been accelerated by rising mobile penetration and digital entertainment demand.
Olaf Coenen, Chair of ISFE and Hendrik Lesser, President of EGDF mentioned, that the gaming sector is ‘well-positioned to be a driving force for Europe’s economy’ with the right direction forward and ‘with renewed determination to harness the talent and potential of Europe’s workforce to fuel innovation, creativity, jobs and prosperity in Europe’s digital economy.’
Our team in Paris has been working closely with gaming organizations in the recruitment of their top leadership talents – with niche skills – to champion their growth across Europe. Reach out to our Senior Consultants for advise on your hiring strategy.
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