The Gaming Industry: A Growing Opportunity for LSPs
The gaming industry may refer to the computer and video games market, but it usually means the industry of betting and games of chance, both online and offline. It refers to the rapidly growing global market projected to be worth $525 billion by 2023.
The rise of gaming worldwide
For the years 2017 to 2023, a study by Arizton Advisory & Intelligence estimates that the global gaming market will have grown at an average compound annual growth rate (CAGR) of 4%. This continuous growth is attributed to a number of factors, namely the following:
- Rise in per capita income of various countries
- Increase in the number of dual-income households (families with both parents generating income)
- High adoption rate especially in online gaming and the use of mobile apps
- Rising interest on online games
The United States, United Kingdom, Italy, and China (including its special administrative regions) will play a significant part in the growth of the international gaming industry. The notable demand for online gaming and the penetration of mobile Internet and apps in these markets bode well for the expansion of online gaming.
Additionally, the rise of sports betting and eSports is helping drive online gaming growth. Several states in the US have already legalized sports betting and many more are planning to do the same in view of the economic benefits that can be derived from it.
The Arizton report says that global gaming companies are increasing their focus on innovations and upgrades to take advantage of digital platforms and to be more competitive. More product or service extensions as well as mergers and acquisitions are expected to take place to address the growing competition. Many gaming companies are also expanding to developing countries such as China and India.
Gaming and LSPs
For language service providers (LSPs), this booming gaming market can only be an advantage. It is one of the top industries that provide opportunities for translators, interpreters, and other language professionals. When businesses operate on a global scale, it’s inevitable for language services to be involved.
The solutions offered by LSPs are useful mainly in the following instances:
- Localization of games. Many gaming sites source their games from established gaming software providers, which may already have localized versions of their games to suit different markets. However, there are others that use proprietary software that need localization to appeal to gamers in a region where a different language and culture prevail. This localization is not only for web-based games but also for client-based (desktop) and mobile game apps.
- Translations and interpreting for live dealer gaming sites. It’s not only online games that need translation. The interface of live dealer sites also have to be localized for the benefit of foreign players. In some cases, especially in high stakes games, an interpreter may also be hired.
- Language services for traditional gaming establishments. Many gaming houses have become tourist attractions that attract players from different parts of the world. These players include the many who don’t speak the local tongue. To provide the best possible service especially to VIP players, these businesses may have to hire interpreters or translators.
Australians are regarded as the biggest betting enthusiasts in the world, which is probably related to its status as the first country to deregulate gaming. According to an H2 Gambling Capital study, the Aussies record the highest number of betting losses per adult resident. A distant second are the Singaporeans followed by the Irish, Finnish, Americans, New Zealanders, Canadians, Norwegians, Italians, British, Icelanders, Cypriots, Swedes, Danes, and Maltese.
Based on this diversity of nationalities who share the fondness of gaming, it only makes sense for companies in the gaming industry to tailor their services in ways that appeal to the most number of patrons. Gaming companies attract more players and generate greater revenues by ascertaining that their services don’t only cater to locals. They have to make sure that foreign gamers in both online and land-based gaming establishments feel welcomed by readily providing translations as well as language services whenever and wherever they are needed.
Language service providers and gaming businesses mutually benefit from the increasing interest of customers in gaming particularly with regards to gaming sites, sports betting, and even eSports betting. Gaming companies need translation and localization to maximize their global reach, while LSPs appreciate getting more clients that need their proficiency not only when it comes to languages but also in making products and services more relatable to customers who speak different languages, with different cultural backgrounds.