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The future is in video games

By 2 September 2021No Comments

Video games are one of Europe’s most powerful economic success stories and one of the fastest growing segments of the creative industries. The European ecosystem has created generations of technological and creative talent that continue to set new standards of innovation, artistry and immersive storytelling.

No other form of creative expression so uniquely combines technical and artistic disciplines in a way that allows the audience to actively participate in the story as video games. The industry continues to push its own boundaries and redefine entertainment. And it continues to generate new business models and provide technologies with a broad potential for dissemination. Moreover, video games offer experiences that enrich the everyday cultural life of a large part of Europeans. Experiences that inspire new ways of understanding and interacting with the world around us.

What Are The Main Platforms In The Video Game Industry?

The video games industry has three main branches of platforms that have managed to expand the market and improve the perception of video games. And each of them has its own dynamics and characteristics.

  • First, mobile games represent the fastest growing sector. There are 3.5 billion smartphones on the planet and 2.6 billion users already play games on their smartphones.
  • Secondly, PC games have a very loyal audience and very particular gameplay characteristics, their importance lies in the fact that they have been the cousins where you could play with another person remotely.
  • And thirdly, console gaming is the most fundamental part of the industry that will never go out of fashion and continues to innovate.

According to El País, spending on video games via mobile represents 86 billion dollars, well ahead of consoles (51 billion) and computers (37 billion).

The Industry Players

In addition to the platforms, it is essential to understand the key players in the video games industry today. Along with the innovation of the millennial generation, the digital era has expanded the boundaries of video games and has allowed the development of key roles for the growth of the industry.

  1.  One of these cases are the clubs or teams of gamers, who have become true celebrities by competing in tournaments.
  2.  On the other hand, there are gamers or YouTubers such as El Rubius, who represent another essential facet of the industry in addition to key events such as fairs, congresses and global tournaments.

WHICH COMPANIES AND GAMES ARE LEADING THE SECTOR?

The recent gaming boom has also been driven by companies and games that strengthen their ties with the public year after year. Tencent Holdings, for example, is a company that specialises in online gaming. It is owned by Miniclip, which in 2017 generated revenues in excess of $18 billion. Activion Blizzard, the creators of “Call of Duty” and “Candy Crush”, are another rich mine of creativity and technology that made profits of more than $6 billion in the same year. Nintendo, Sony and Microsoft have made sure not to miss out and remain strong contenders in this crowded race.

In terms of games, besides iconic classics such as “Pac-Man”, “Tetris” and “Fifa”, the games that have driven the industry boom in recent years are “Warcraft” (2004), “Angry Birds” (2009), “Minecraft” (2011), “Grand Theft Auto V” (2013) and “Fortnite” (2017), to name but a few.

Video Games, The Industry of the Future

Apart from economic growth, the video games industry is set to enjoy a bright future in which games will not just be a thing for young gamers, but will be part of everyday life for all of us. With the help of the Internet of Things, virtual reality and augmented reality, the growing industry is set to succeed in all markets. And to become an intrinsic part of all aspects of our daily lives.

In Spain, the industry is constantly growing. Studios continue to search for new and young talent to create innovative products to compete in the crowded market. In terms of employment, Catalonia generates 46% of the total, Madrid 26% and the Valencian Community and Andalusia 11% each.

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