25 Jul How the Gaming Industry is Changing Worldwide
Video games have been around for ages now, where adults and children stuck to their phones to play the online games offered by small companies and businesses. Online gaming has evolved drastically since then, now it feels like a distant memory! It could be due too the improvement of technology, or curiosity of people to try out more engaging and fun games, or simply the need for entertainment. However, in today’s world, gaming is merely entertainment; it has outgrown itself to become a billion-dollar industry.
Dumping millions of dollars on the gaming industry to create complex games, using multiple features was a dream in the historic period. But now, the revenue created by the online gaming industry exceeds the revenue generated by the movie and the music industry combined. Hence, it is a sure shot win for the gaming industry and today there are over 2 billion gamers across the world, that is almost 26% of the world’s population. Some studies predict that by 2022, the gaming industry will make 196 billion dollars.
Involvement of non-gaming industries
The popularity of the gaming industry has grown so much in today’s world that the non-gaming industries like Facebook, Google and Apple are interested in involvement with the online gaming industry. The industries are looking forward to creating smooth online gaming environments and make streaming look as natural as possible, just like how we use Spotify and Netflix daily. One of the best examples for this is the launch of Project xCloud by Microsoft (MSFT), which is a popular name in the gaming industry. The project launched in early 2020, where the service allows the users to stream the games on PC.
In 2016, Facebook developed gaming platforms to enhance the development frameworks for games. Google launched its own cloud platform called Stadia, that allows gamers to play live streaming games under high resolution and quality. The main aim of the majority of these companies involving in the gaming business, it to eliminate the need for a gaming PC or console and stream games online, with the use of mobile phones.
Like mentioned above, the gaming industry is no joke, and it takes a fortune to create games using the latest technologies and interactions. Merchandising is the perfect answer or a solution to these expenses. For example, the Halo series of the Xbox from Microsoftspread other types of content in the form of movies, comics, books and also an upcoming television series. Assians’s Creed, which was a game developed by Ubisoft, is one of the best examples of Merchandising.
Vintage video games
As the world is moving forward, people crave for a more vintage get the modernized approach of enhancing their nostalgic games and remake them into movies, books, series or even re-invent the games in the market. Many game creators and companies take advantage of this situation and have re-created games which a modern touch and use of modernized technology to it.
The video game industry is always in line with innovation and trying new demographics. As the world moves towards spending times oN their phones, it becomes easier for the developers to create games that are soothing to the eyes and compatible with your mobile phones.