Malaysia’s video gaming industry is projected to hit US$649 million (US$1=RM4.78) in revenue in 2024 after registering significant growth in recent times, said Digital Minister Gobind Singh Deo.
He said the market is anticipated to show a steady compound annual growth rate of 7.55 per cent from 2024-2027, with a projected market volume of US$807 million by 2027.
“Collaboration is key. The gaming industry is inherently global and the achievement in this field requires a concerted effort from all stakeholders, locally and abroad.
“By joining forces, we can share knowledge, resources, create opportunities and foster a culture of innovation that transcends borders, uniting us in our pursuit of excellence,” he said.
According to Gobind, the government remains committed to providing unwavering support to the gaming industry, offering financial incentives and regulatory frameworks that protect internet protocol (IP) rights.
He said the ministry, via the Malaysia Digital Economy Corporation (MDEC), is committed to growing and nurturing the country’s digital content industry through a few approaches.
He added that MDEC will be facilitating investments and market access support through participation in the Annecy Festival, Games Developer Conference and Tokyo Game Show.
“Investment in the digital content sector in Malaysia has grown from RM550 million in 2022 to RM1.6 billion in 2023, and is projected to produce over 1,900 high-income jobs through ‘Malaysia Digital’ status companies.
