The video game industry is experiencing an extraordinary boom in popularity across the world. By the end of last year, this industry was worth a staggering $262 billion, and it is only just getting started.
It is forecast to reach a value of $312 billion within the next three years, so no slowdown in its expansion is expected any time soon. This impressive growth is down to the gaming industry extending its reach beyond its traditional customer base.
Video gaming has always been popular among young men, but now it is being embraced by women and other demographics too. In this article we will look at how the industry has developed over the years and what the trends driving its current growth are.
The Development of Video Games
Video games first appeared during the late 1970s and then started their rise to popularity in the 1980s. Some of the earliest games to enjoy widespread success included Pong, Pac Man and Space Invaders.
These titles contained the seeds of the action and sports games that are among the most popular gaming niches now, but things have developed a lot since then. As gaming technology has improved, so the games have developed more realistic graphics, more complex stories and more immersive fictional worlds.
All of that has helped to build a stronger level of engagement with video games among the audience. In turn, this has brought greater success to the industry.
There are certain trends that are converging to fuel the growth in video gaming right now though. These are some of them.
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Legislative changes
One of the countries with the largest gaming markets is the United States, but one form of gaming has been illegal there until recently. That is online casino gaming.
The legal status of this is now changing, as it is down to individual US states to determine it. Many states have already legalized it and there has been a surge in popularity as people go online to find different casinos to play at.
There are various casinos to choose from suiting every player, Americans can even choose a sweepstakes casino, which is a casino that allows players to play for free using sweeps coins however if a player wins, they are able to redeem the coins for cash prizes.
It has been established that people who play casino games also enjoy other forms of gaming. So, these changes are helping to boost video gaming in the US too.
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Mobile growth
Mobile gaming has become much more popular due to the rise of the Smartphone. Mobiles now have the specs needed to enable people to play 4K games on them. That is leading games companies to release more of their titles for mobile.
Mobile gaming has been a hit among women, perhaps because it is suited to genres they like such as Candy Crush Saga-style puzzle games. Attracting more diverse consumers is a big factor in the growth of the industry.
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New Technologies
The technology sector is becoming more focused on gaming and developing technologies that will enhance the experience. Among the results of that have been virtual reality (VR) and artificial intelligence (AI).
VR allows for the creation of digital universes that are as three-dimensional and immersive as the real world. That obviously has the potential to make the imaginary worlds of genres like role-playing fantasy games in particular more real and more attractive to the player than before.
AI is being used to enhance certain aspects of the play. For example, it can make the behavior and reactions of characters within the game world more realistic, leading to a greater believability. That is another big factor in the burgeoning popularity of the games.
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Streaming and e-sports
These are two more important trends driving the growth of gaming, because both live games streaming and e-sports attract a lot of fans. That has helped to build social gaming communities, turning gaming into a way of meeting new people as well as mastering skills.
The top games streamers have achieved minor celebrity status while successful e-sports teams are watched by millions and earn good money from sponsorships. Streaming is best suited to complex video games such as role-playing or strategy ones.
Those work well for e-sports tournaments too and both of these trends have made people realize that gaming professionally is a possibility.
The Future
We cannot say with certainty what will shape this industry in the years to come, but technology will surely be at the heart of it. Everything from AI to VR will be absolutely central to the video gaming experience in the future.
It also seems reasonable to assume that the US market for online casino gaming will grow rapidly now that it is becoming legal in most states. Americans have an established love for gaming and they will embrace the opportunity to play for real money.
The future looks very bright for the video games industry, with continued strong growth potential.
