Sources of economic growth in the XXI century: video game industry

Abstract

This article focuses on determination of trends and prospects for the development of video game industry in the Russian Federation. Analysis is conducted on evolution of the video game market and trends that established thereof. The author examines the dynamics in gaming industry revenue allocated by segments, and the share held by video games on the markets of the Eurasian Economic Union member-states. The author carries out a comparative analysis of the revenue of the global gaming industry for all segments (games for smartphones, tablets, PC, etc.) with GDP of some EAEU member-states for the 7-year period, and as well as makes a forecast of the dynamics of revenue of gaming industry by the segments. The overall revenue obtained from the global gaming industry has increased by 115% in the past 7 years and account to $ 151.9 billion. The article explores the current state of video game market in the Russian Federation, which almost doubled in the past 5 years and accounts to $ 1.9 billion. The key risks that can negatively affect the development of video game industry are identified. The conclusion is made that despite the existing risks, a dynamic increase in the segment of mass multiuser online games and its audience should be expected in the nearest future; by 2022, the segment of games for mobile devices could take up to half of the entire gaming market.