Study reveals the impact of video game technology on various sectors and its potential for future growth
Video game technology has long been recognized for its entertainment value, but a recent report sheds light on its far-reaching impact beyond the gaming industry. According to a study conducted by FTI Consulting and UKIE, the UK’s video game technology used by non-gaming industries was valued at an impressive £1.3 billion in 2021. This “spillover” technology, encompassing game engines, virtual reality (VR), and 3D rendering software, has become a driving force in sectors such as information technology, energy extraction, and business services. The report highlights the significant value and potential of video game technology in shaping the UK economy.
Video Game Technology Transforms Industries Across the UK
The study reveals that the value generated by video game technology in non-gaming industries is equivalent to that of prominent sectors such as timber and forestry, aluminum production, and cycling. This underscores the transformative power of gaming resources in diversifying and enhancing various sectors. Moreover, the integration of video game technology has created a ripple effect, supporting 9,900 positions within the country, further contributing to economic growth.
Gaming Resources Find Adoption in Key Industries
The report identifies information technology, energy extraction, and business services as the top adopters of gaming resources. These industries have harnessed the potential of video game technology to drive innovation, improve product designs, and enhance customer experiences. From utilizing game engines for patient care in healthcare to introducing VR applications in the energy sector, video game technology has proven to be a versatile tool with wide-ranging applications.
Healthcare Emerges as a Promising Frontier for Video Game Technology
While healthcare currently sees a smaller impact from the use of video game tools, the report predicts significant growth in the coming years. It highlights the increasing adoption of game engines for patient care and anticipates that by 2025, healthcare will be among the top three industries leveraging VR resources. This projection underscores the potential for video game technology to revolutionize healthcare practices, improve patient outcomes, and enhance medical training.
The Driving Force of Video Game Technology
Dan Wood, co-CEO of UKIE, emphasizes the pivotal role of video game technology in driving technological development across sectors. From fostering innovation to enhancing consumer experiences, gaming resources have become a catalyst for progress. This report provides compelling evidence that the video games industry is not only a source of entertainment but also a significant driver of economic value across the UK.
The report’s findings highlight the immense value and potential of video game technology in non-gaming industries. With a worth of £1.3 billion in 2021, this spillover technology has transformed sectors such as information technology, energy extraction, and business services. Furthermore, the report predicts a promising future for video game technology in healthcare, where it is expected to play a pivotal role in patient care and medical training. As video game technology continues to evolve and expand its reach, its impact on the UK economy is set to grow, solidifying its position as a driving force of technological development in various sectors.