Back in 2019, the global gaming market was valued at $151.55 billion. And it’s expected to increase by $105 billion by 2025. As economies continue to emerge, game developers are striving continually to rewrite codes for consoles such as Xbox, PlayStation, and Windows PC and enhance the gamer’s experience.
The emerging cloud gaming is expanding this market exponentially. Advances in cloud technology have transformed the idea of cloud gaming into a new reality. How does it work? The servers where everything about the game is stored does all the analysis and computation. And these include video streaming, game scene rendering, and logic processing video encoding.
Some of the companies that have already ventured into this space include G-Cluster, Gaikai, Onlive, and Stream My Game to name a few. This emerging sector will be serious competition with the traditional gaming market in the future.
This has prompted big video game brands like Ubisoft, Warner Bros, Sega, Epic Games, and Disney Interactive studio to form partnerships with companies like Onlive to distribute games. In May this year, Nvidia G Force added more than fifteen games to its cloud library and announced an additional eighteen games will be available on their platform soon.
One of the biggest drivers in the market is the adoption of gaming platforms like E-sports. E-sports has witnessed increased demand in the market and it’s therefore, driving the entire gaming industry around the world. Dot A2 and Riot Games with the Legends are some of the best examples of influential platforms in the esports world. Esports originated from South Korea and although the United States overtook South Korea in revenues and profits, it’s still a host of some of the biggest tournaments in the globe.
The sector has also witnessed numerous activities from startups that have further propelled the growth of this market. For example, Forge Arena developed by Phoenix Rising Studio is a Canadian Enterprise that wants to become a major player in the esports world. The game can be downloaded for free using similar models to Counterstrike and Fortnite, selling inbuilt features and extras to generate more revenue.
Now that we are in the middle of a pandemic, home entertainment and instant withdrawal casinos seem to be the best option for gamers who are currently locked at home as theatres and cinemas continue to be shut down temporarily to prevent the spread of the deadly virus.
A survey conducted in March 2020 found that video gamers in the United States spent more than 40 percent of their time playing video games. Esports is one sector that’s aiming at generating more than a billion dollars in revenue each year. After the pandemic, this sector will gain traction and momentum. The increase in Twitch downloads after the pandemic rose to 14 percent in the United States and 41 percent in Italy.
A study conducted by Hollywood Reporter found out that the United States reported a 45 percent growth, the UK – 29 percent, France – 38 percent, and Germany – 20 percent. Online playtime has also increased with participants spending more time playing with other gamers online. 29 percent of gamers in the United States reported spending more time playing with their friends since the global pandemic began. Other players in the UK and France also reported having spent more time playing online than offline.
The smartphone market
Smartphone gaming has increased exponentially in recent years. Last year, there were more than 200 million mobile game players in the US alone. The growing demand for smartphone games has been propelled by the Best Online Gambling Sites in Pennsylvania and several technological advancements such as Virtual Reality, Augmented Reality, and cloud gaming.
Huge game developers for PC’s and consoles have also released their games on mobile due to the increased demand and rapid growth of the mobile game market. One of the most awaited mobile game was the Call of Duty. The franchise has transitioned into the mobile industry and the results were astonishing.
Mobile brands re expected to release 5G and unlimited data plans to support cloud gaming around the world. Most gamers prefer playing on their phones because they can do it anywhere. The 5G infrastructure will play a critical role in the success of mobile gaming.
5G mobile subscriptions are expected to reach 1545 million in the Asia-Pacific region five years down the line. The smartphone market has witnessed rapid growth and it offers a cost-effective opportunity for mobile developers, investors, and publishers.
Conclusion
The gaming market is fragmented and highly competitive. Now that you know the forecasts and trends of this market, you can make informed decisions right now to increase your chances of winning cash and other amazing prizes in the future.