Language I/O Releases Gaming Industry Findings
Localization Critical to Global Gamers and Industry Expansion
CHEYENNE, Wyo., May 25, 2021 /PRNewswire/ -- Language I/O (LIO), powering meaningful conversations between global organizations and their customers, today announced the findings of a joint survey with Nimdzi Insights. Localization and accurate translation of gaming terms is key for the gaming industry, as 45 percent of the sector's total revenues come from international sales with players in all languages coming together.
Key Findings:
- Localization is critical as international sales represent 45% of all gaming companies
- Growth in the gaming industry is projected to increase to USD 196 billion by 2022
- Asia-Pacific holds the biggest market share of total revenues, representing 47%
Key trends from the report include:
User Generated Content (UGC) - UGC plays an important role in the global gaming industry in player support services as well as in live chats during online games, player feedback from social media or blog reviews.
Belén Agulló García, Ph.D. VP of learning and Lead Media Researcher, Nimdzi Insights shared, "Gamers speak their own language. Their messages are full of Internet jargon, gamer jargon, game terms that are not actual words and sometimes include spelling or grammar mistakes. That's the perfect recipe to get a terrible and non-sensical MT output. And yet, MT is widely used for localizing player support tickets, emails, players' feedback, among other UGC content."
Advent of 5G – As 5G becomes more prominent it will open doors to new innovations and technologies in the gaming industry. Cloud gaming, which allows users to play on any device through a subscription model, is predicted to increase from USD 356 million in 2020 to USD 3.2 billion in 2023.
Localization through Language – Currently $750 million is spent in the gaming industry on localization, with this number expected to significantly increase in 2024 to between $1.1 billion and $1.8 billion. Customized machine learning-based MT delivers the most accurate translation for UGC.
Join LIO and Nimdzi for a webinar May 27th from 1pm – 2pm EST, to discuss the importance of enabling players in the gaming industry to communicate in any language.
About LIO
LIO enables Fortune 500 companies to communicate with customers anywhere through proprietary machine learning technology, which enables real-time, company-specific translation. The AI technology enables LIO to quickly generate accurate, company-specific translations of all user-generated content (UGC) including jargon, slang, abbreviations and misspellings into over 100 languages via chat, email, article and social support channels. LIO is accessible directly via API and seamlessly integrates with all major CRMs, including Salesforce Service Cloud, Oracle Service Cloud and Zendesk. The company was co-founded by two female entrepreneurs who bootstrapped the company, wrote the original code and obtained large enterprise customers such as Constant Contact (CTCT), Shutterstock (SSTK) and PhotoBox.
About Nimdzi Insights LLC
Nimdzi Insights LLC is a market research and consulting firm focused on the language industry, international markets, global business development and acquisitions.
Download the complete report or visit LIO.
SOURCE Language I/O
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