A lot of speculation surrounds the video game industry and its supposed "climb" to 100 billion in net revenue by 2020. Though many studies (such as www.Wiki.com's statistics on 2013, which had a net revenue surge of 76 billion, in comparison to 2012's 63 billion) seem to point that the industry is on its way up, the truth is: this may not be the case. We see a clear climb in the industry; there's no doubt about that. Is it possible for it to reach a whopping 100 billion by the year 2020? Absolutely...but this does not necessarily mean good things for the developer.
The video game industry beats out all other markets including movies, music, and books!
The App Store estimates nearly 1 million apps enlisted, with hundreds of new apps submitted each month (many declined); consoles are very exclusive, and their games often come from reputable, reliable sources such as companies with games already having shown a tremendous following; PC games are on the rise. Does this indicate that we are in trouble? No. In fact, it is quite the opposite. The mainstream realm - though popular - is the one that is in trouble. Independent developers are making their mark, and though consoles have yet to see this (or recognize it to begin with), PC games - most of which are MMOs and social games - are revealing that the indie market is taking off! What does this mean for us? Read onward...
Outlook for the industry is great, yes. It is plausible that the industry will be upward of 100 billion by 2020, but other studies show that, despite this very optimistic statistic, developers are being spewed from schools at an enormous rate, and competition is fierce. According to a job outlook study on DegreeOutlook.com, the job outlook for the multimedia industry (in the United States, at least) is going to rise at a very slow 6 percent. This means that out of the 68,900 employed video game developers as of 2012, there will be a minimal 4,300 jobs opening up between now and 2022. This means that the developer needs to be wary: there may be a surge in the market, but the job outlook is scarce.
According to the same study, the solution lies in understanding that the market is saturated. The games will continue developing high income, but the number of employed developers over the next 10 years is going to be very, very low. So what to do? Expand your portfolio, and learn how to be a true businessman when it comes to getting a job (read our blog: "Think Like A Businessman!"). The developer needs to know how to assert himself/herself in a market that generates large income, but only for those employed at major studios. To get that kind of job, you need traction. Now, we are here to help! Read our lectures, go through our blog entries, and stay tuned, as we are here to help increase that job outlook!