The gaming industry has a promising future thanks to more thanseven billion internet gamers globally and the impressive revenue generated through the various gaming platforms. The gaming industry is constantly changing, with new players joining every day.
Research reveals that the gaming industry is expected to exceed197 billion dollars. As more businesses go online, there is no denying that the gaming sector too, will grow and flourish.
With that said, here are six reasons why the gaming industry is booming:
- Social Media
Undoubtedly, social media dramatically affects the gaming industry’s progression. Developers are integratingsocial media platforms into their games to make them more shareable and engaging.
Another advantage social media has for the gaming industry is that it allows for direct connections between gamers and creators. This provides creators with feedback from their users. Developers and organizations can thenupdate their games to increase customer satisfaction.
Streamers are another big reason for the success of thegaming industry. With websites like YouTube generating millions of views, most gaming enthusiasts are minting money using these platforms to showcase their skills and interact with their followers.
- Technological Advancement
The game industry’s future is more promising than ever, thanks to incredible technological developments. The days when gamers were devoted to just consoles are long gone. Technologies such as virtual reality and facial recognition have taken the experience to a new level.
Moreover, with new technologies and improved design, gaming hardware has never been more advanced. Check outDom’s Gaming Blog for the latest inthe world of gaming and tech.
- Better Rewards
As with other industries, the gaming sector is more competitive than ever. Numerous companies are coming into the market to exploit the industry’s growth potential. Companies must draw clients and cultivate a following to remain competitive.
One strategy that gaming companies use is offering rewards and credits. These rewards aim to make you feel a sense of accomplishment, keeping gamers motivated to play more.
Here are some rewards provided by gaming platforms:
- Coins: In-game coins are used as reward points in various games. They can be used to purchase game inventory or level up.
- Discounts: When new games are launched, gamers are offered credits and deals to get them started. This allows gamers to play without having to spend too much.
- Money: Perhaps the best rewards for competitive gaming would be monetary benefits.
- Increased Career Opportunities
Since the blossom of the gaming industry, many young gamers have started seeking employment in the field they are passionate about. Many job opportunities are available as the number of gaming companies increases rapidly.
The majority of positions in the gaming sector offer competitive compensation, averaging $54,000 per year. The potential to earn a decent salary further motivates young developers and animators to join the industry. Moreover, with the industry expanding, finding a suitable job will not be hard.
- Rise of Mobile Gaming
The days when gamers had to spend money on expensive consoles and gaming setups are long gone. In today’s world, all you need for gaming is a smartphone and an internet connection. Nowadays, everyone carries a smartphone with access to the internet, giving mobile gaming the exposure it needs to keep users engaged without being at home to use consoles.
People enjoy playing games on their phones because it provides a more individualized experience. Moreover, the convenience mobile gaming brings to the table further adds to its popularity.
If you look back in time, you will be shocked to learn that mobile gaming formerly had a tiny market share of just $70 million but has now grown to a massive $138 billion.
- Diversity in the Games Available
Back in the day, action games dominated the gaming market. However, now different gaming genres are available. There are a variety of alternatives that might pique your attention. You can choose from sporty games or online strategic board games like chess.
This diversity in the available genres has allowed new players to become dedicated ‘gamers’ and enjoy games to their liking. According to statistics, there will be around 3 billion active gamers by 2023.
This is just the beginning of what will be the gaming industry in a fewyears. The reasons listed above are sufficient evidence that the gaming world is expanding and will continue doing so for the foreseeable future.
With the world becoming increasingly tech-reliant, the gaming industry is well on its way to becoming one of the largest revenue-generating sectors in theworld.