At the time of writing, it’s no secret that the gaming industry is one of the fastest-growing global markets. Although the sector has long been popular, the all-action industry has undoubtedly enjoyed a recent boom over the last 12 months. Because of that, Digital Information World reports that gaming is now the most profitable market in the broader entertainment sector. This growth, however, does raise a fascinating question; what’s responsible for this new-found popularity? Well, let’s look into the reasons behind gaming’s recent boom.
Heightened Player Figures Over the Past Year
For several reasons, the total number of gamers reached new heights throughout 2020. The global gaming industry is forecast to have grown by 4 per cent in recent times, which had a knock-on effect on sales. Nintendo, for example, recorded a 400 per cent profit increase by the end of the first fiscal quarter in 2020. Regarding the global gamer population, Finances Online states that 2.69 billion people played video games at the end of 2020, and that figure is forecast to grow to 2.81 billion throughout 2021.
Recently, aside from having more time, aspiring gamers have also had access to the latest titles via their smartphones. In years gone by, mobiles didn’t feature the necessary specifications to run demanding titles, although that has since changed. As per TechJury’s figures from July 2020, 28 per cent of the global population played mobile titles. In many ways, this remote approach to gaming has been central to the industry’s recent boom, with players now able to enjoy console-quality developments on their mobiles. From ARK: Survival Evolved to Genshin Impact, smartphones no longer shy away from hosting demanding games.
Moreover, platforms like Genesis Casino offer mobile users a route to enjoy high-quality gaming content. At the live casino online, players can immerse themselves in a selection of real-time opportunities, including Crazy Time and Monopoly Live. With live dealers, the operator retains the social aspect of gaming, which has also been central to the industry’s recent growth. Offerings such as this may continue to help fuel the growth of this industry.
Can This Surge Influence Future Trends?
Fascinatingly, Newzoo’s data suggests that the number of global gamers will surpass the three-billion mark in 2023. Should this be achieved, it will represent a compound annual growth rate of 5.6 per cent between 2015 and 2013. In light of the current and predicted growth, many question how this new-found popularity will impact video game production. Although there are no certainties regarding what the future holds, it’s not beyond the realms of possibility that the mobile market will change due to heightened gamer figures.
In 2020, Think with Google details that mobile usage surpassed television viewing for the first time. As such, smartphones have become the go-to leisure option, which opens the door to an array of future opportunities. With increasing numbers of players turning to their phones, it’s plausible that developers will optimise more of their popular console games for the mobile platform over the coming years. At the time of writing, crossover trends are becoming more prevalent, as evident from Call of Duty: Mobile and Fortnite.
Owing a Lot to Smartphones
Although phones aren’t solely responsible for the gaming industry’s recent boom, their impact has unquestionably been the most significant. On-the-move gaming and leisure-friendly approaches have captivated casual players who previously couldn’t justify the price of consoles and their respective games. Now, the market has a foundation to build on, and future trends may have a mobile-orientated focus.
Stay updated with all the insights.
Navigate news, 1 email day.
Subscribe to Qrius