Finland’s game industry is growing fast

The total value of the Finnish game industry is estimated to reach EUR 600–800 million this year.

Finland’s game industry has been growing much faster in the past decade than the global game market, according to Neogames, the umbrella organisation of the Finnish game cluster. The compound annual growth rate of the industry in the period 2004–2012 has been about 26%.

The turnover of the Finnish game industry was EUR 250 million in 2012, compared to EUR 105 million in 2011. This year, the total value of the Finnish game industry is estimated at EUR 600–800 million, which includes all the economic activity related to the industry. Neogames estimates that by the year 2020, the turnover of the industry will be EUR 1.49 billion.

Many new companies

The Finnish game industry currently has about 200 game companies and employs more than 2000 people. According to Neogames, a significant part of the companies are developing mobile games, but there is development virtually to all existing platforms. The start-up scene is vibrant and over 40% of the existing game companies have been established during the last two years.

In 2011–2012, Finnish game companies attracted investments totalling USD 81.3 million. The biggest investments went to Rovio and Supercell, which are also the most well-known Finnish game companies internationally.

According to Neogames, the game industry has been so successful in Finland due to a combination of many factors. For example, Finland is a location where innovation meets excellent technology know-how and it has a good price-quality ratio. Finland also offers world class game education and research as well as a strong gaming and game development culture.

Source: Neogames