Initiated by the European Parliament, the project was commissioned by DG CNECT and undertaken by Ecorys and KEA. It aims to provide a comprehensive overview of the industry, unravelling its economic, employment, regulatory, cultural, and social dimensions.
One of the primary focuses of the study is to shed light on the economic footprint of the Video Games sector in the EU. The numbers are nothing short of staggering: in 2022, the EU27 Video Games market generated an impressive €23.48 billion in revenue and provided employment to approximately 74,000 individuals working across 5,000 game development and publishing studios.
“Understanding the value of a European video games society” unveils the intense global competition that the EU Video Games sector faces. Large companies situated in the US and South-East Asian have created a competitive landscape, resulting in a slight decline of the EU market share from 8.7% in 2017 to a predicted 7.3% in 2027. The launch of the study is the opening chapter in understanding the challenges and opportunities in the global arena.
Other challenges include recruitment difficulties, the acquisition of requisite skills and the enhancement of inclusion and diversity strategies. In addition, the sector’s complex nature, which encompass a mix of technical and creative elements, along with the extensive regulatory framework applicable to the industry, underscores its difficulties.
To address them, the consortium offers nine recommendations aimed at guiding policymakers in creating the best conditions for maximising the economic, social, and cultural impacts of video games in Europe.