Video games were created as a way to kill time. It was unthinkable that it could become a mainstream industry, let alone get millions of dollars worth of investment. Today, the global landscape for video games has completely transformed. The creation of these games is much more complex and has evolved into a full-scale industry.
The most significant contributing factor towards the video game industry's growth has been its rapidly expanding user base. With rapid advances in online gaming today, the user base of video games has risen to over 2.5 billion across the world.
Different platforms and devices through which users access video games is also a contributing factor. A large percentage of gamers, about 47%, still use personal computers and laptops for gaming purposes. Smartphones are the second-largest platform, holding 34% of the gaming user base.
However, by 2021 mobile gaming is expected to overtake desktops and laptops as a gaming platform and represent over 50% of the gaming industry's revenue.
Several new trends will drastically affect the growth and popularity of the online gaming industry.
The 5G Era and Mobile Gaming
Towards the end of 2021, 5G is set to be rolled out globally, including in India. 5G is a milestone step for the telecom sector as well as for the online gaming industry. With download and upload speeds on mobile devices ready to rise exponentially, mobile users and online gamers will switch to mobile devices.
A large part of the Indian gaming community is restricted from entering mobile gaming due to the high costs of video game setups. However, 5G will allow more users to join the world of online gaming. It will also allow the quality of mobile games to compete with console and PC games.
A Larger Audience
The world of gaming is not attracting only gamers but also viewers. People between 18 and 25 years of age have a rising interest in watching gamers duel in virtual arenas. This viewership surpasses regular sporting broadcasts and will expectedly surpass active gamers in the gaming world by 2021.
Research shows that while gamers are likely to rise by 9% shortly, the audience for these gamers will increase by a whopping 90%.
Cloud Gaming
SaaS (Software as a service) and PaaS (Platform as a service) have had great success worldwide. This model is adopted in the gaming sector in the form of GaaS (Gaming as a service) and can completely revolutionise the industry.
Many console gaming companies are looking to switch to this model soon, allowing gamers to play online games without any hardware or configuration prerequisites that current games have. Whether you are looking for a genuine online casino in India or a multi-player online gaming experience, you can access everything through the cloud as long as your network connection is stable.
The New Reality - AR and VR
AR and VR have already entered gaming in a big way, but they are yet to reach mass adoption. The new technology has taken immersive gaming to a whole new level, advancing rapidly and creating an increasingly realistic experience for viewers.
Video game giants will soon be able to integrate an AR or VR element into the average gamer's experience, thus removing the requirement of a screen or monitor. The AR and VR market is expected to touch about $20 billion in revenue by 2021.
Millennials Dominate the Market
According to one research report by Nielsen, gamers have an average age of about 35. 71% of gamers regularly watch walkthroughs and gameplay on video-sharing social platforms like YouTube, and millennials are a significant part of this demographic. By 2021, video games are set to become as mainstream as movies and cinema and perhaps even reach their inflection point as a source of entertainment.
A Widely Accepted Form of Art
While video games become more mainstream, they are also evolving into a medium of storytelling, played almost entirely by television, print and cinematic media. This global acceptance among wider audiences elevates the status of video games to a valid form of art. This will also mean that video game creators, developers and designers will be considered artists.
Fantasy Sports
There are several types of gaming experiences. There is a massive market for online casinos, but fantasy sports is another rapidly growing area. In India, this market runs on the popularity of cricket. Around the world, other fantasy sports leagues are also increasing in popularity.
Video games have the potential to tell stories, create new worlds, and bring people together. They are no longer merely a way to pass the time or a fundamental source of entertainment. Industries around the world will have to adapt to the growing love for gaming across the globe.
Press release by: Indian Clicks, LLC
