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Is Gaming Business the Fastest Growing Industry In the Europe?

Last year in 2018, the size of the European video gaming industry was worth USD 19 billion and it is expected that it will reach USD 21.5 billion by the end of 2020. Due to rapid technological advancements, the latest gaming facilities have reached to every corner of the world.

Today, like other countries, Europe is also coming forward and becoming advanced in this niche. The allvideoslots believe that within a few years Europe will establish itself as the leader in the global gaming market.

Supportive Market Backdrop

When it comes to the success of the European gaming market, their success lies in the innovation and the new services they introduced in the field. Recently at the global range, Google's Stadia streaming service was introduced for gamers and Apple's Arcade subscription service for mobile games made life much easier. Sony also introduced its next-generation console while Microsoft developed a futuristic cloud streaming solution for the gaming community.

With the increase in commercial investments, now the European gaming market is also booming and has been supported by distributed regional funding at a large scale. The financial institutions in Europe have also provided loans and schemes to the gaming sector, helping them grow.

Wide Variation in Video Gaming Sector

Every country in the world is approaching the gaming sector with different strategies. For example, the UK gaming market is based on PC and console gaming and they are working on its development. The France gaming market is working on video game publications and is working on the digital transition to expand their market despite limited financial resources.

The Nordics countries in Europe have benefited for their population's early embrace of the latest technology and hence today they are giants in the mobile phone industry, where names like Nokia and Ericsson were born. These regions are managing to deliver globally some phenomenal and successful games that include Angry Birds, Eve Online and Clash of the Clans.

Germany being a European country has become the market leader in browser-based PC games and they are now the fifth largest game market country in the world.

Clearly Defined Characteristics in Video Gaming Sector

There are companies that are working on a 'hit-drive' model who is working to a single IP or has a narrow portfolio, hitting mid-market publishers and distributors. They have low-quality projects and due to inadequate financial resources and stabilization, they appear as risky companies not able to cope up with fast technological changes for long.

Then there are digitally-focused companies that have a centred community that has a strong IP portfolio and represents a far more balanced investment structure. They possess exceptional levels of digitization on larger financial scale and thrive for excellence with the aid of the latest technological revolution. Europe is regarded as that market, where there are premium opportunities for the gaming industry.

There is no doubt that the European gaming business is fast booming and in no time it will turn itself as the market leader in this domain, proving its potential due to financial stability.

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