The gaming industry is no longer a distinct segment arena for a specific group of individuals. With the arrival of mobile gaming and enhancements to hardware utilised in playing these games, sound cards, graphics and faster processors have brought a drastic growth in gaming industry.
The gaming industry has undergone a substantial evolution since the 1970s. In 1971, Computer Space was established followed by Atari Inc. With the primary successful commercial computer game called Pong within the initial years, the market lost momentum but restored back after a successful game called Space Invaders. The sport went onto make $2 billion in 1982. And in the consecutive years the sport made 2.5 times the revenue generated by the films during that period.
Within the past decade, gaming industry is booming rapidly. The initial stage is the investment. Investment may come from the platform which is able to feature the sport or an oversized publishing organisation or some independent developers might opt to fund their own games. The main challenge at this stage is to stop infringement of copyright and piracy. Now the sport is developed creatively by artists, designers and developers. The sport publisher will work on marketing to urge game in market and ensure a return is generated. In the end, the sport is purchased by user which determines the value of the sport !
Due to an increase in number of players around the world, there's an immense competition in gaming industry. E-Sport or digital sports has become a new trend and a ton of money is invested in different E-Sport competitions due to the huge market! But before understanding the competition it’s important to know the economics of the industry. This needs results to have more innovation, investment and cutthroat rivalry to guide the industry. The industry continues to usher in revenues and impact the economy with esports tournaments like battle.net World championship series, Call of Duty League, Ultimate Battle and many more brought in millions within the primary few days of launch. The world game market is worth $93 billion which includes games like Mario, Pokemon, Call of Duty, Fifa, Grand Theft Auto and many more !
A report by Google-KPMG revealed that the net gaming segment will cross $1.1 billion by 2021. India comes among the highest five mobile gaming markets within the world .
Most of the gaming revenue comes from the free-to-play online video games, or more specifically the items provided by the games like cars, weapons, outfits etc which can be purchased with real money.
Also with the Covid-19 lockdown, the net gaming market in India has witnessed a huge increase in user engagement. In addition, the Indian mobile games market is projected to hit a mark of $1.1billion by the end of 2020, and also the number of gaming users is anticipated to achieve 628 million. By the end of 2020, the world gaming market is estimated to be worth $152 billion, with 45% of that, $68.5 billion, coming directly from mobile games.
In recent times , mobile games have crossed 33% of all app downloads, 74% of consumer spend and 10% of time spent in various apps. It’s predicted that in 2020, almost one-third of the world population will enjoy mobile games around the globe. Games like PUBG, Call of duty, Ludo King and Carrom Pool are the most downloaded games of this year till now.
The potential within the industry is growing and competitiveness remains amongst the developers. After accumulating the advantages of digitisation within the country, gaming developers are bringing out new gaming formats backed by blockchain and machine learning technology.
Be it a provider or a user, there's something for everybody. The long run in the gaming industry features a lot to the future, and only the one with right combination of techniques, skills and business understanding will hit the jackpot!