Australian Gaming Industry to Hit a New High

Australian Gaming Industry to Hit a New High

The gaming market is a sector that is a multi-billion dollar industry and it is hardly a surprise to see it thriving within Australia at the moment, either, with it believed that 91% of the country’s households each have at least one gaming device within the home.

Indeed, given that the activity is an incredibly popular entertainment pastime for everyone located in Oz, it perhaps should not come as a further surprise that there are gamers of all ages and demographics. It has been found that 42% of those over the age of 65 regularly play games while almost half of the total number of gamers within the country are female.

While it was found that nearly half of those around the retirement age all like to enjoy a game or two in their spare time, it has also been found that the average age within Australia regularly playing video games is thought to be 34. With the age still relatively young, this perhaps shows that there is further growth that can be experienced in this market across the country.

However, it is also important to note that while conventional forms of gaming is popular, it should be noted that iGaming activities including playing at a live casino is just as popular these days, with a vast number of the nation’s population regularly participating in this form of gaming whenever they can.

According to statistics and data to have been collected, around 39% of the population (6.8 million residents) are said to regularly be participating in gambling activities including playing their favorite pokies games or wagering on sporting events that take place and this number has shown to be improving at a rapid pace.

Moreover, with it being reported that nearly more than $4 billion is being spent and the Compound Annual Growth Rate (CAGR) is expected to reach 8.7% by 2024, it is hardly a surprise that this profitable industry has been making waves in Australia and many are looking to protect it as much as possible.

Naturally, with the gaming industry proving to be incredibly popular among the nation’s citizens, there has been a lot of movement within Australia to ensure that it remains popular and the country benefits in a number of different ways by taking advantage of what has been made possible.

For instance, we have recently seen the Games Workers Unite union be created – the first in the country –  with it claimed the group will represent over 18,000 members across the country to ensure that the marketplace remains as protected as possible, while also making it appear more attractive to potential employers and those who may wish to work within the sector in generations to come.

Their aim is to ensure the best working conditions are provided, as well as try to obtain the industry’s first collective bargaining agreement and provide certain worker entitlements where possible. Furthermore, it aims to ensure the wages offered are of a suitable level, especially for those freelancing. Unite is also said to be keen to make a difference, too.

Nonetheless, while the gaming market is on the rise and has shown incredible potential, there is no denying that there are a few struggles Australia is currently facing. One prime example is in regard to experienced developers, with the country having found it difficult to find them according to the IGEA. However, this may provide those who wish to move to the country and have the skills of being a developer with an opportunity to be able to move there and do some of the incredible things that the country has available to do.

Final Thoughts

There is no doubt that the gaming industry within Australia is set to reach and hit a new high, with it clear that the industry is a profitable one and a market sector that the country is clearly trying to protect as much as possible. 

Indeed, while there are challenges at the moment, it would not be a surprise if these were simply teething problems due to how quickly it has been able to grow and that they become a thing of the past rather quickly and actually become a distant memory.