In the global entertainment business landscape, the video games industry has not just grown, it has exploded, eclipsing even the combined revenues of the film and music industries.

The industry is poised to achieve a revenue of $622.80 million in 2023, with an anticipated annual growth rate of 11.57 percent, propelling the market volume to an estimated $965.10 million by 2027, according to Statista Market Forecast.

Bangladesh's game development market, although much smaller, shows similar promise. In 2021, the market was valued at $62.22 million and is part of a broader $370 million gaming industry in the country. Projections indicate that this market could double by 2026.

Esports is also a growing sector within the gaming industry in Bangladesh, with titles like Counter-Strike, DOTA, FIFA, Rainbow Six Siege and Call of Duty having large player bases. Bangladeshi esports players have collectively earned $216,681.51 from 99 tournaments so far.

High-stake events like Discovery One's BESL Episode V, offering a prize pool of Tk 6 lakh, and the GPxAOV Community Cup 2023, which featured a Tk 3 lakh prize pool, indicate a burgeoning esports scene.

Given the industry's consistent profitability, one might expect Bangladesh, which graduates over 20,000 software engineers yearly, to have a thriving game development market. However, despite early optimism about the gaming industry in Bangladesh and despite the fact that some locally-produced video games have garnered good reviews, the industry has struggled to gain traction.

Video games are often seen as non-essential, leading many talented individuals to seek opportunities abroad and draining the nation's pool of expertise.

Md Musabbir Hosain, managing director at NapTech Labs, a Dhaka-based game development company, points out that the initial challenge is an insufficient workforce, which necessitates extensive training for new recruits.

The industry is also plagued by a lack of robust investment. While the anticipation for groundbreaking Bangladeshi games is fervent, extended-release delays like 'Agontuk' disappoint fans. Social media pages for games like the first-person shooter 'Project Judgement' have lay dormant for years.

The few games that hit the market often offer subpar gameplay as developers struggle with tight budgets and modest pay.

The perceived absence of profitability has also led to hesitancy among investors, causing many promising projects to be shelved prematurely. This reluctance has a ripple effect, discouraging students from specialising in game development and exacerbating the already significant skill gap.

Arif Mohammad, CEO of TechnoMagic, a local animation and game development company, underscores the importance of educational institutions in bridging these gaps. A more straightforward educational pathway to game development could significantly ease many of the industry's current challenges.

"To date, what we suffered from is a lack of resources. If educational institutions introduced an easier pathway to game development for graduates, that would make things much easier," he says.

Nonetheless, notable companies in Bangladesh's game development sector like Riseup Labs, Ulka Games, and Azmi Studios continue to hold up the torch. Ulka Games' 'Ludo Club' has achieved significant success, surpassing 60 million downloads on Google's Play Store. Additionally, indie games like 'Zero Hour' by Attrito M7 Productions have shown that there is a market for quality, locally-produced content.

Currently, the game development industry in Bangladesh stands at a critical juncture. With the right investment, educational focus, and strategic planning, it could well become a significant player in the global gaming arena. The industry offers more than just financial gains; it serves as a platform for creative expression, skill development, and even expressions of national pride.

As Bangladesh navigates this complex landscape, the time is ripe for a multi-pronged approach that involves educational institutions, the investment community and governmental support to act as a catalyst for the industry's evolution.