Agrarian Economy 2022 Т. 15 № 3-4: 130-139

Video game industry market as a component of the global economic market

O. Sholudko, Candidate of Economic Sciences (PhD), Associate Professor
ORCID ID: 0000-0003-2264-5638
O. Hrytsyna, Candidate of Economic Sciences (PhD), Associate Professor
ORCID ID: 0000-0002-1304-0250
R. Danylyshyn, Master degree student
ORCID ID: 0000-0001-8576-0866
Lviv National Environmental University

https://doi.org/10.31734/agrarecon2022.03-04.130

ANNOTATION

The results of the study of the role and significance of the video game industry as the newest and one of the most active sectors of the economy are presented. The video game industry market includes development of Game products, virtual reality, computer engineering, the IT component, cyber disciplines, gaming. It is only a part of the entire mechanism of the gaming sector. It is clarified that the research deals with video game experience (gaming), and not gambling (card games, betting, etc.).

The initial stage of the gaming industry development during the economic crisis of the 80s and 90s is considered; the main problems of stagnation and decline of the market during this period and how it managed to «survive» are investigated. At the same time, the thesis that gaming products (video games) are «economic bubbles» in the market of digital goods and services is refuted.

The current conditions of this market, its main aspects and prospects are demonstrated. A comparison of the video game industry and other media (cinematograph and music) is made; the most profitable companies are considered. The features of this phenomenon of industry popularity are determined.

SWOT analysis was used to determine the main strengths of the market, weaknesses of the industry that have been traced in the recent years, and are significantly inherent in the domestic market. The main opportunities and prospects for development of this market and possible threats that contribute to its slowdown are also identified.

Using the digital analytical platform «NewZoo», the financial conditions of the market as a whole and in the context of relevant gaming platforms was studied: mobile gaming, computer gaming, console gaming, etc. The most profitable regions of the world are identified. In this paper, the authors describe the main methods of earning money for Game Studios.

A significant element of the study is to identify the main aspects and prospects of conducting e-sport disciplines, in particular in the Ukrainian market and how this will help the economy in the post war period. The influence of video games on the formation and development of financial literacy through economic strategy games and simulators based on the in-game economy is established.

KEY WORDS

video gaming industry, video game market, Newzoo, gaming, financial literacy, e-sports, developer, gaming companies

FULL TEXT

LINK

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