In the year 2020, video games are going to account for more than half of the entire U.K. entertainment market. Almost every sector (Online Games, Mobile Games, Consoles Download Games, Gaming Network and PC Games) of the U.K. gaming industry market is growing. According to our research video gaming market in United Kingdom is one the largest in Europe. According to Renub Research, by the year 2026 United Kingdom Video Game Market will be US$ 3,716.8 Million revenue.
U.K Video Gaming Industry in COVID Era
Video gaming is highly popular in the UK and this coronovirus quarantine has further fueled the consumer interest in the gaming industry. We found in our research that the numbers of users for Mobile & Download games have increased in the COVID lookdown. Primarily because of growing internet and smartphone penetration, technology upgradation etc. Sales of gaming consoles have shown significant improvement in the year 2020 compared to last year 2019. Health experts are also giving the go ahead sign for video games as a helpful tension buster during COVID times.
How did Gaming industries flourish within the UK?
Back in 2015, the united kingdom Government identified the hidden potential of the interactive gaming industry and unrolled favourable polices to nurture its growth. In doing so, the united kingdom Government adopted a two-step approach and released on the brink of $5.2 million so as to support the domestic gaming companies that lacked finances and infrastructure.
The UK Government didn’t stop there, and also unrolled favourable tax regulations which provided tax breaks and credits to those willing to expand their footprint and operate within the UK. All this flexibility has attracted innumerable foreign investors and contributed to the expansion of UK’s gaming industry.
Video games are mostly popular in Middle and High Income population. By age group 25-34 and 35–44 age groups are more popular compared to 18-24, 45-54, 55-64 age groups of population. The key players of this industry have played a vital role in developing the sector by launching new generations’ software and hardware of such as consoles.
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