Survey from trade association TIGA points to a happy new year for the UK games industry.
The UK video games industry is set to increase investment and expand employment in 2016 according to comments made by TIGA in its latest Business Opinion Survey 2015/16.
The new report is based on a survey of 52 UK games businesses developing games across mobile, tablet, PC and console and indicates a positive year ahead.
Other findings reveal that 60% of companies plan to grow their workforce a little over the next year, while 12% are expecting significant growth.
Over half of respondents (54% ) also said that the outlook for investment in their business was more optimistic than a year ago.
And in other positive news – coming on the back of the developments in Games Tax Relief – 63% of companies believe that the economic and business environment in the UK is currently favourable to the games industry.
Dr Richard Wilson, TIGA CEO, points to the growth being driven by three factors:
“Firstly, the consumer market for games is significant and growing. Already games are played in 70% of households, and over 50% of all UK adults are mobile gamers.
Secondly, the increasing prevalence of mobile and tablet devices, the new console generation, and the advent of Virtual Reality and Augmented Reality are stimulating investment in games.
Thirdly, Video Games Tax Relief, which TIGA played a critical role in achieving, is fuelling growth. Games Tax Relief effectively reduces the cost and risk of games development and it incentivises investment and job creation in the games industry.”
You can find out more about the Business Opinion Survey 2015/16 at the TIGA website.