For starters, a 5-percent share of the PC and game console market in the next three years isn?t bad, stakeholders in the Philippines figured, considering the global industry is expected to reach $90 billion this year alone.
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Recent estimates also expect the industry revenues to hit $242.92 billion by 2016.
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However, there is a lot fine-tuning industry players must do to gain from this tremendously growing market.?
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?The worldwide game industry is estimated to hit up to $90 billion by the end of 2012,? Game Developers Association of the Philippines president Alvin Juban said in an emailed statement Friday.
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?The top game development companies are trying hard to sort through to still find ways to continuously better their business models,? Juban added.
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The game development sector is quite young, counting about 60 companies as of December 2011, according to the Game Developers Association, a partner of the Business Processing Association of the Philippines.
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As of end-2011, the sector accounted for 3,000 employees and combined revenues of $12 million ? up 13 percent from 2011.?
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That is why the Game Developers Association wants to expand its 0.2-percent share of the market to 5 percent by 2015.
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The global games market, including animation, is expected to grow up to $242.92 billion by 2016, according to researcher MarketsandMarkets.
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Core revenues mainly come from PC games and devices that carry games as a bonus feature, specifically helped by the proliferation of mobile devices ? smartphones and tablet computers ? and enhancing the industry?s growth potential in terms of revenues, MarketsandMarkets noted.
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?Game development companies based in? Taiwan, Korea, Japan, and? ?France have explored opportunities for joint venture projects with us, as well as training partnerships and consultancy [with a view to] establishing a Philippine presence,? said Juban.
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This development is an offshoot of the ?lingering bearish global climate?? prompting industry players to explore possibilities overseas, Juban noted.
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?With a highly-trainable and competent talent pool, we are confident that global clients will realize the potential of the Philippines as the destination of choice for outsourcing game development services,? Juban added. ? VS, GMA News
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