Malezja's Video Game Industry Sees Impressive Growth

Malezja’s Video Game Industry Sees Impressive Growth

by Annabelle Stephenson
in *AR, *CH, *DE, *ES, *IT, *JP, *KO, *PT, *RU, *TR, *UA, News, xBG, xCS, xDA, xEL, xET, xFA, xFI, xHE, xHR, xHU, xLT, xLV, xNL, xNN, xRO, xRS, xSI, xSK, xSV
on 18 April 2024

Malezja: branża gier wideo prognozuje wzrost

The video game industry in Malaysia is set to achieve revenues of 649 million U.S. dollars (around 3.1 billion Polish złoty) in 2024, marking a significant increase in recent years. Forecasts predict a stable annual growth rate of 7.55 percent from 2024 to 2027, reaching a market value of 807 million U.S. dollars in 2027.

One key aspect highlighted for success in the video game industry is collaboration, according to Minister of Digitalization, Gobind Singh Deo. Given the global nature of this sector, the involvement of all stakeholders, both domestic and international, is deemed essential.

To support the growth of the video game industry, Malaysia offers various financial incentives and regulatory frameworks that protect intellectual property rights (IP). The Ministry of Digitalization, through the Malaysian Digital Economy Corporation (MDEC), aids the development and promotion of the local digital content industry by participating in events such as the Annecy festival, game developer conferences, and the Tokyo Game Show.

MDEC supports IP development, incubates new studios, and provides skill development programs like the Digital Content Incubation Program, Digital Content Grants, and Digital Content Creators Competition.

Additionally, the minister emphasized that MDEC will facilitate the establishment of Malaysia’s brand through industry promotion and leadership, conducting regional research, producing thematic works, regional conferences, and business events like LEVEL UP KL, Kre8tif!, IMMERSE KL, and the digital content festival in Malaysia (MYDCF).

Investments in the digital content sector in Malaysia grew from 550 million złoty in 2022 to 1.6 billion zloty in 2023, with expectations to generate over 1900 high-income jobs in Malaysian companies under “Malaysia Digital.”

The annual Digital Content Festival in Malaysia serves as a prime example of the country’s digital industry growth, with the number of exhibitors increasing from 80 in the first festival in 2020 to 150 in 2023. The event drew over 25,000 attendees last year.

##FAQ

###What is the forecasted revenue for Malaysia’s video game industry in 2024?
According to predictions by the Ministry of Digitalization in Malaysia, the video game industry is anticipated to achieve revenues of 649 million U.S. dollars in 2024.

###How does Malaysia support the growth of its video game industry?
Malaysia supports the development of its video game industry through financial incentives, regulatory frameworks protecting intellectual property rights, and initiatives by the Malaysian Digital Economy Corporation (MDEC) aimed at fostering local digital content.

###What role does collaboration play in the success of Malaysia’s video game industry?
Collaboration is considered a crucial factor for success in Malaysia’s video game industry, given its global nature. Involvement of all stakeholders, both domestic and international, is essential for industry growth and advancement.

The source of the article is from the blog japan-pc.jp