With all the technology gaining momentum, the Gaming industry has come a long way and is here to stay for good. Lately, many changes can be seen in this sector, be it huge returns or increase in customers or controversies, it sure is making a big noise! Get to know more about this happening industry that is Gaming.
Increase in Returns from Gaming Industry
Newzoo, the game market researcher has predicted revenue of $137.9 billion through games market by the end of 2018. Compared to 2017, there will be an increase of 13.3% overall. Currently, the estimation of active gamers has reached 2.3 billion across the globe. 46% or 1.1 billion of these spend huge on these games. China remains the leading country with revenue returns of $37.9 billion from gaming industry in 2018 followed by US with $30.4 billion and Japan at third place with $19.2 billion. With the rise in the changing trends in the gaming industry and gamers, the revenue is expected to reach a whopping $180.1 billion by 2021.
Growth in the sales of smartphones and tablets has eventually leaded to the increase in the mobile gaming. According to Newzoo reports, mobile gaming has for the first time contributed for more than 50% of the gaming revenue. No wonder, due to iphones and Android phone casino, mobile casino gaming is one of the fastest-growing sectors in the market presently. This could help smartphone developers to produce smartphones with advanced graphics and cross-platform option. With the cross-platform option, one can begin playing game on his/her computer or laptop and further continue it on smartphone or tablet.
Loot Boxes and Consoles
The huge revenues that the gaming industry is making are not just through full game purchases. Most of the credit goes to the loot boxes. In 2017, PC gamers contributed to revenue of more than $20 billion through in-game purchases. Another $8 billion was generated through PC consoles. Too much of controversies have been created by loot boxes. The gamers find it frustrating that they can’t enjoy complete game even after buying it. They are supposed to buy loot boxes wherever required in between the game.
No matter what the gamers feels or the controversies they create, the loot boxes are here to stay. Game Developers Conference 2018 research shows that one in every ten game developers is up for putting the item crates in the upcoming games they develop. This is strictly to earn the profits as much as they can.
While some players are against this, others continuing playing the games no matter what it cost. According to Juniper research, the loot boxes are up for contributing revenue of $160 billion to the gaming industry by 2022.
AR based gaming
The legendary Pokemon Go game of 2016 which was an absolute hit was based on augmented reality technology. There has been no other such game devised till date. But considering the huge potential the AR technology holds, we can expect a new game soon based on it. There are reports of Niantic, the creators of Pokemon Go, working on developing another AR based gaming along with Warner Bros.