The video gaming industry is arguably one of the most innovative and important sectors in today’s tech industry.
Video Gaming: a Rapidly Growing Industry
When It comes to entertainment, we are not only limited to Hollywood and the music industry. There was a time when we used to have just one game of PONG back in 1958.
At that time, we never thought that we are about to witness one of the most valuable industries, the video game industry, just half a century later.
Now the war of the gaming industry is so much heated up and it’s so real and out there that the battle over console gaming is waged by tech giants like Microsoft (Xbox), Sony (PlayStation), and Nintendo.
Even Google is acting as a new competitor looking forward to giving some tough time to already established tech giants in the gaming industry. Just take a moment and imagine your favorite sports that you played or liked in your school and college life, be it soccer, basketball, or baseball.
Features of the Video Game Industry
You can have the video game version of that sports just one click away. Not just that, the current players that you see on tv are available with such unreal graphics that boggles your mind.
The crowd, the commentary, sound effects, and all other small things make the video game player so much involved in it that they forget about the real game.
The video game industry is showing its miracles worldwide. The global video game market size was valued at USD 151.06 billion in 2019 and is expected to grow at a Compound Annual Growth Rate (CAGR) of 12.9% from 2020 to 2027.
Online streaming has also been a huge success for the game industry and gamers. Different platforms like YouTube and Twitch are providing gamers the opportunity to Livestream their gameplays to the viewers and subscribe to channels of gamers all over the globe.
This gaming industry has surpassed many other entertainment industries by providing equivalent fun to movie stories, sports, and novel-based stories. The key point of this industry is the fact that the process of innovation never stops in it with new technology, new controls, and new experiments.
Features of the Video Game Industry
The worldwide completion of different championships of major games is also a key factor in evolving the gaming industry to the next level. The volume of the gaming industry is so large that if we put the movie and music industry together, the gaming industry will still be in surplus.
Though the gaming industry doesn’t get as much attention as the movie and music industry does. In a rough figure taken, there are around 2 billion gamers all around the world and that makes 26% of the total world’s population and that is a huge number. And some of those gamers are just full-time gamers with the only source of earning is to play Livestream games.
Now games are available on different mediums and platforms like console gaming, pc gaming, cloud gaming, and mobile gaming. Every platform has its own success over a period of time but console gaming which is the original form of digital gaming is the most recognized and original platform for game players.
Earlier in the days, Nintendo and Sega happened to dominate the market but nowadays, PlayStation and Xbox have become the two most popular consoles, offering millions of players the ability to experience the latest in gaming technology.
PC gaming is also very popular keeping in mind that 1.2 billion people use PCs as their gaming tool of choice. As soon as mobile phones have become more and more convenient in their use, the gaming industry also turned their faces toward a potential market to capture.
Now cellphones are also a vital medium of the large gaming industry as mobiles have taken over the television over the viewership. The investment in mobile gaming startups is also increasing with every day bringing new technology and easy to use for the gamers at their fingertips.
But the new headline-making gaming thing that is taking everyone’s attention is cloud gaming which is a new thing in the industry. It is kind of Netflix but in the gaming industry.
There is a huge library of games available for gamers and you just have to choose the game of your choice and it will automatically start. No need to buy a dick and there is no load time and you can play with anyone in the whole world which is a huge breakthrough in the tech industry.
One of the all-time favorites on the website is old-school Runescape which is a very interesting video game to play at a very affordable price on the internet. They provide accurate delivery with time tracking. They also have 24/7 live support to update.
Video Game Markets
The video game industry has boomed in recent years because it provides a variety of options to play.
You may play alone, play with friends and you can even play with even complete strangers sitting thousands of miles away from your home. That’s sounds interesting. Doesn’t it?
In North America where Hollywood exists, the gaming industry is still bringing more money than the movie industry. And still, it is not the largest market for the video game industry.
Asia-Pacific holds the largest market share, where Southeast Asia holds the largest revenue. The online players of the Southeast Asian region are rapidly rising every day.
The reason behind it is the fact that the mobile industry is booming in this region and with that, the video game industry is also growing automatically. China recently lifted the ban on console gaming also boosted the number of gamers in the region.
And also new various platform has been created in china to generate and enhance the gaming industry in the Asian-pacific region. The video game industry is so huge that some of the countries are investing heavily in it to boost up their economy.
Old School Runescape
Old school Runescape is one of the most interesting games that you’ll find on the internet that will keep you entertained throughout years to come.