The UK gaming and media industry is set to overtake the US as the fastest growing in the world, according to a report by the National Gaming Foundation (NGF), which is also backing the UK’s gaming sector.
The UK’s growth has been driven by the rise of virtual reality (VR) and augmented reality (AR) technology and the expansion of digital games, NGF President Ian Campbell said on Thursday.
The growth in digital games has been so fast that we have had a gaming industry that has grown in the space of a year, Campbell said.
We are now in the midst of a major resurgence in our industry.
The gaming sector is one of the most important sectors in the UK economy and the UK is a leader in virtual reality, Campbell added.
“We are in a great position to compete with other economies, particularly the US, where we have a huge opportunity to take the lead in virtual and augmented-reality, Campbell told Al Jazeera.
Virtual reality technology is now available to millions of people around the world.
VR headsets are becoming increasingly popular, and have been used in many films, TV shows and video games.
The virtual reality industry is booming, Campbell claimed, as it has become increasingly accessible to consumers.
The NGF’s report found that virtual reality accounted for around 9% of the UK games industry’s total revenue, up from 6% a year ago.
It said that VR had been responsible for about 30% of UK game sales, while AR and AR games accounted for about 20% of total games revenues.
Campbell said that, with the UK gaming sector’s growth, it would become a “mega-player” in the global market.”
This will be the biggest gaming industry in the future, with revenues expected to surpass $100 billion by 2032, he said.
The report said the UK had a strong digital game market.
The gaming sector generates over $1.5 billion in annual sales and employs 2.2 million people, the report said.
“While the UK has a very strong digital gaming industry, it is one that is rapidly growing,” Campbell said, noting that the industry’s digital growth was outpacing the US market, which has a market cap of $2.5 trillion.
“In the past year, we have seen an increase in the number of UK companies entering the global digital game industry, including games like World of Warcraft and Minecraft, which are growing at a faster pace than the UK market,” Campbell added, adding that the UK was the most mobile and competitive gaming market in the EU, accounting for 8.5% of all EU online game players.”UK game players are growing in both time and money,” Campbell told AFP.
“The UK has had a massive online gaming market since the turn of the century.
There is a lot of demand from gamers, but also a lot more work to do to support the growth of the market, he added.
A lot of the games that are being developed are being made by small studios, he noted.”
It’s not only about the digital game, but the game design as well, Campbell continued.
“It’s a big challenge to have a sustainable business model, which is why there is a need for a strong game industry.”‘
We are not afraid’The NFF’s report said that in 2017, the UK generated more than $2bn in gaming revenue and spent $8 billion on digital content.
The sector is also growing rapidly, according the report, with more than 6,000 developers, publishers and service providers working in the sector.
“There is a strong demand for game design and the industry is becoming increasingly diversified,” Campbell noted.
“We are now entering a period of rapid growth in the industry and it is clear that the sector is not going to stop anytime soon.”
I think the UK industry has reached a tipping point.
It is a very large industry with a very diverse and dynamic workforce, and we are not going anywhere.
“The NAF’s report also noted that the market is set for growth in other industries.”
For the digital gaming market, the market will continue to grow.
This growth is due to a number of factors, including the growing popularity of digital and augmented gaming, as well as the increasing acceptance of new games, the NAF said.
In the digital games sector, the growth is driven by virtual reality and AR technology.
The NGF is a global organisation with membership in more than 100 countries, and is responsible for promoting digital gaming, creating and supporting industry and government initiatives.
“Digital gaming is growing in number, and it will be very difficult to slow this growth,” Campbell stressed.