Global Gaming Market 2020 Demand, Business Growing Strategies, Influence at the Gambling Industry

The entertainment industry is growing at a rapid rate. This is especially true when it comes to the development of games. Experts report that the gaming market is worth $120 billion. You should keep in mind that most of the biggest games developed this year have only been afforded by reputable and successful companies because their price is quite high.

However, this doesn’t prevent other small developers from coming up with their projects using simpler forms of technologies where less money is used. And consumers love them thus making the entire venture profitable.

The most common types of games today are multiplayer online games. Despite their popularity, there is stiff competition. And only the strong survive. Different types of games come and go but some stay with us for years thanks to their unique features, gameplay, and regular updates.

Gaming trends 2020

Back in 2019, the global revenue generated by the gaming market was $68.5 billion. According to New Zoo’s prediction, the market will be worth $76.7 billion by the end of 2020. That’s a 12 percent increase there. Some of the trends that we’ve witnessed so far are:

1.      5g power developments in cloud gaming

We can’t call 2019 the year of 5G technology. However, we can say that it was the year that marked the start of a transition toward the adoption of 5G. 2020 might be the year that 5G goes mainstream. This technology will continue powering some of the most important ecosystems in the gaming world like cloud gaming.

2.      Cloud gaming will expand gaming experiences

Microsoft and Google launched its cloud gaming technologies back in 2019. Cloud gaming is likely to replace PCs and consoles or convert a huge number of casual gamers. Like other gaming models, you can expect cloud gaming to come with its possibilities to the market. Cloud solutions have been embraced by pay n play casino and it will significantly contribute to the growing value of the gambling market.

3.      Hyper-casual will be a genre by itself

2019 was one of the years marked by exponential growth for hyper-casual games. The hyper-casual genre peaked in early 2020 and will stabilize towards the end since users will no longer be vulnerable to aggressive campaigns that were there in the past. But this doesn’t mean that hyper-casual will be forgotten. Hyper-casual will go on to establish itself as a genre on its own – not a subgenre.

4.      Studios will align monetization and marketing

Advertising is quickly becoming a huge source of revenue for gaming developers in our modern world. Last year, most game studios in the casual and hyper-casual space started merging their monetization activities. This alignment aimed to ensure that teams are working together to get the entire picture of the growth of the games thus leading to a deeper understanding.

Conclusion

Games are exciting for all age groups. Most people are addicted to games. A business that is based on games can bring forth huge profits or losses. There are a lot of gamers and games in the market. If you are interested in creating games, you can easily find tutorials online that will help you develop this skill in 2020.

Leave a Reply

Your email address will not be published. Required fields are marked *