The online gaming industry is growing at an extraordinary pace. It is one of the most popular and highest-grossing sectors in the world.
From online slots to online sports games, the variety of games and the improvement of virtual technologies are all contributing to the growth of the online gaming industry.
This article will present some of the reasons behind the popularity of online gaming. It will also discuss some of the sector’s past and current market trends.
Then, it will explore the industry’s predicted growth and the impact that new technologies could have on the sector.
The growth of the online gaming industry
Over the last few years, the online gaming industry has considerably grown.
According to Statista, the online gaming market garnered approximately $21.1 billion in global revenues in 2020. This marks an increase of 21.9% compared to 2019.
The industry is still growing with approximately “1 billion online gamers worldwide”. By 2025, projections estimate that there will be 1.3 billion gamers worldwide.
There are several reasons behind the growth and popularity of the online gaming industry.
First of all, it is conveniently easy for gamers as it is all virtual and therefore easily accessible. With the expansion of 4G networks and the improvement of WIFI connections, gamers rarely face technical or connection issues.
Therefore, due to its virtual nature, online gaming gives players the opportunity to play anywhere and at any time. Many gamers appreciate this freedom to play whenever and wherever.
Online gaming is also popular because it is sometimes used as a social platform. Indeed, gamers can turn to some online gaming platforms to communicate with others and join virtual communities.
This gives individuals the opportunity to connect with others virtually and to meet people on the other side of the world.
Online gaming is therefore popular because it is convenient, accessible and gives individuals access to an international community.
Some of the online gaming industry’s trends
The online gaming industry has seen all types of trends over the years. These trends and their evolution tell us a lot about the sector and its progression over the years.
We will now explore some of the past and/or current trends in the online gaming industry.
- Mobile gaming
One of the online gaming industry’s past trends were simple and easy games that could be played on mobile devices.
The most famous ones were Candy Crush, Fruit Ninja and Subway Surfers. Most people will remember these games as open to players from nearly every age group.
Other popular games included puzzle games that were also easy to play on mobile devices.
To some extent, these games marked the beginning of mobile gaming and converted many individuals to online gaming.
However, now that individuals are becoming more comfortable and skilled using their mobile devices, many of them are looking for more challenging and immersive games.
In response to this demand, more complex and elaborate games began to be developed.
Nowadays, gamers can still use their phones or tablets to download gaming apps and play online.
The quality of the games has improved and there is a wider variety of games available to players.
- Game streams
One of the current trends in online gaming is streaming. Although streamers and content creators like PewDiePie have been posting for over a decade now, services like Twitch are relatively new.
The streaming service Twitch is contributing to the growth of the online gaming industry by encouraging gaming livestreams in which hosts promote new games. This gives viewers the opportunity to watch and discover online games before buying them.
The popularity of streamers is also a current, and increasing, trend in the gaming sector. More and more gamers rely on these streamers to recommend new products for them to try out.
They place their confidence and trust in these streamers rather than in traditional ads.
Therefore, the popularity of online games rely greatly on recommendations from streamers and from the gaming community more generally.
- Female gamers
A relatively newer trend in the industry is linked to the increasing number of female gamers. According to a survey, 45% of gamers were female in 2021.
Over the years, this increase has led to the development of new games such as Animal Crossing. More online games designed for female gamers are bound to emerge over the next few years.
- Virtual technologies
As mentioned before, another trend is the increasing use of virtual technologies. The popularity of online formats has benefited the online gaming sector, pushing “physical game sales” out of the picture.
But will the online gaming sector remain popular in the years to come?
The future of the online gaming sector
Statista predicts that the global online gaming will continue to grow with revenues reaching $19 billion in 2025. According to a PwC report, the gaming industry will be worth $321 billion by 2026.
From these figures, we can deduce that the online gaming industry will continue to grow and expand over the years to come.
New technologies are set to improve gamers’ experiences and make online gaming more accessible to new gamers. This will attract more players, therefore increasing the market’s value and revenues.
As for new technologies, they will continue to emerge and improve online gaming.
The industry is already seeing the emergence of new technologies such as VR, or Virtual Reality headgears, that offer more immersive experiences to gamers.
Final thoughts
This article has presented some of the reasons behind the popularity of online gaming.
It also highlighted some of the past and current trends in the online gaming industry.
Finally, this article offered some predictions regarding the sector’s future.
