The gaming industry is one of the most influential industries in our generation. Its success mostly, if not solely, comprises on its relevance to our evolving culture, social network and entertainment preferences of our generation.
Today, the industry as a whole is worth $200 billion US dollars, and it is always pushing the limits and boundaries of technology and entertainment. Throughout this period, it can be argued that video games have been consumed more than the usual due to the effects of the ‘stay-at-home’ global pandemic situation. Many individuals have induced into all forms of entertainment, mainly video streaming entertainment and gaming entertainment.
The gaming industry has helped many surpass boredom especially in current lock-down restricted times. It has very positive impacts since it has allowed many users avoid boredom and to stay connected to their friends via gaming applications and devices. There are different types of gaming technology:
1. Console Gaming: this gaming type comprises of gaming equipment and technology. It is the most common type of gaming – some popular examples include the Xbox and PlayStation.
2. PC Gaming: It is on the rise with more than 1.2 billion people using their computers as their gaming tool of choice.
3. Cloud Gaming: this is the newest type of video game technology. This consists of playing games on a cloud-based gaming platform; examples of this include Google Stadia. This form of digital gaming may become the future in a few years since no discs and no load times are required, this means less load time and more game tome which is very appealing for the newer generations.
4. VR/AR Gaming: These refer to virtual reality and augmented reality which are becoming extremely popular form of gaming now a days. These offer a more realistic and immersive experience.
5. Mobile Gaming: These games usually are downloadable on your phone and can be played anytime on a mobile device.
The value of the video game market worldwide has increased significantly over the past decade and it is even to be forecasted to grow even more in the upcoming years. There are definitely many positive impacts of the industry because it is constantly evolving, thus in the future this might create many other jobs which might not currently exist. One-third of the entire global population having played a gaming app in 2019, this is due to the fact that is it so easily accessible and the variety of gaming choice is very wide, giving everyone a game that would be suitable for them.
The success in the gaming industry is not a matter of luck but more of a matter of knowledge of the specific market. A game might be popular in Asia however it might not have the same impact in Europe due to the cultural, historical and social backgrounds.
Concluding, the gaming industry is full of development opportunities, there are many forms of game production delivery methods and it is a space where the systematic meets creativity. It is a sector that still needs to grow even though their numbers are huge: video game industry revenue is forecast to reach $180.1 billion in 2021. It marked a 10.7% growth between 2016 and 2017 and then 10.9% between 2017 and 2018.
