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UK video games market worth £5.7 billion

Ukie, the trade body for UK gaming, has released a yearly report showing the UK gaming market has had a record 10% growth in 2018 and was valued at 5.7bn.

2018 saw solid growth across both game software and game hardware. Software revenues brought in a total of £4bn, with digital and online revenues up 20.3%. Meanwhile, game hardware racked in £1.57bn with console hardware up 6.5%, despite no new systems being released throughout the year.

The report shows that the VR market saw a more difficult year, dropping 20.9% to 72m, however, the trade body has said this is because early adopters are awaiting the next generation of headsets.

The rise of revenue from gaming does not come as a surprise, seeing as the game industry is worth more than the music and film industry combined.

Ukie CEO Dr Jo Twist said: "The UK games industry is a cornerstone of the country's cultural landscape and continues to work hard to create new, innovative and exciting content that consumers want to experience, and that helps to drive the industry forward year-on-year."

Esports in the UK is on the rise with audiences expanding, universities offering degrees in the subject and more events being held around the country.

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