The UK's £4 billion ($5.1 billion) is expected to nearly triple to £10 billion ($12.8 billion) by 2023, according to an upcoming report from recruitment firm Robert Walters.
The impressive growth will not just apply to money, but jobs as well. Over the next five years, it is believed that there will be 80,000 positions within the UK's industry, triple what it's at now.
During the enforced lockdown, the games market generated more money than the video, music and film industries. Furthermore, digital downloads increased by 67 per cent week-on-week by the end of Q1. Meanwhile, physical games sales were up 218 per cent.
"Covid-19 has had a profound impact on the games sector. In a world where blockbuster premiers, national sporting events, and hospitality and leisure were all vetoed – gaming has further infiltrated the daily lives of multiple generations as one of the only accessible lockdown past-times," said Robert Walters senior manager for technology Tom Chambers.
"With games now accessible on mobile, apps, and PC's – accessibility was at an all-time high compared to the days when you needed a console.
"Where gaming really came into its own has been on the interactivity front, and during lockdown, there was a substantial rise in new users looking to bridge the social limitation with friends and family by playing together online – this was particularly notable with the over 60's market who took to gaming to 'keep their brain in shape' and play with grandchildren."
Employment opportunities
Despite the problems posed by the COVID-19 outbreak, employment opportunities have grown 20 per cent year-on-year. However, the rise is significantly higher when looking at specific roles. For example, demand for game programmers has increased by 154 per cent, project management by 140 per cent and developers by 91 per cent.
"A number of countries have firmly cemented their reputation as big players in the gaming market – in particular largely populated and tech proficient countries such as Japan, South Korea, China, and the US.
"While the UK may still be considered a young sector it now sits fifth in the list of the largest gaming markets in the world," said Chambers.
"One of the biggest indicators of the success of video game development and sales in the UK is the speed at which the jobs market has grown. Although the UK may not boast the huge populations of other countries, it has always remained competitive at developing technology – as well as housing some of the best gaming talent in the world."
"In a sign of the increasing maturity of the UK sector, gaming companies are rapidly increasing recruitment into the sales and marketing space in order to better monetise their products. In fact, in 2019 there was a 25 per cent increase in marketing vacancies compared to the previous year."
