Online Gaming Market

Online Gaming Market

Online games are multiplayer games played on the internet browser or by using other networks. The social gamings are with the subscription-based or freemium pricing model.

Technology Origin:

The concept of Online gaming came in the early days of packet-based computer networking in 1970. After the packet-based games, MUD (Multiplayer) games innovated in 1978. Then commercial games introduced after 1984.

Technology Evolution:

The easy availability of Internet leads to the rapid expansion of this market in the 1990s. A lot of games launched in the 1990s, Nexus: The Kingdom of the Winds (1996), Quakeworld (1996)  & one of the most popular games was the Counter-Strike. The online gaming market grew next decade more with the launch of amazing games like World of war followed by Star war galaxies, city of heroes. The multiplayer online battle arena started. The largest gaming market is located in China followed by the USA & Japan.

Technology impact Industrywise:

Banks could launch games to engage teens early and the bank will also guide them about saving money and invest it. The bank will provide small loans like 100 USD and the bank will provide e-wallet to save money. As the bank launches a new game, the money can be easily recovered by installing games by existing users. The growth in revenue of the gaming industry attracts foreign investment. China contributes 27 % of the global gaming market and the US contributes 23 % of the global gaming market. These two countries are getting the highest investments.

Top companies providing products based on your technology:

The top development companies are Nintendo, Valve corporation, Rockstar games, Electronics Arts, Activision Blizzard, Sony Computer Entertainment, Ubisoft, Sega Games CO. Ltd, BioWare, Microsoft corporation, Gameloft, Epic Games, and others.

Effect of COVID-19 on technology and industry:

In the COVID-19 era, the online gaming market raises suddenly as user engagement increases during the lockdown. People are finding ways to kill time.  While other industries are facing challenges in business, COVID -19 is a boon for the gaming industry.

As per a recent study from Verizon, there is a 115 % increase in gaming usage in the US during the lockdown. The companies are continuously breaking their own record for concurrent users in March and April. Also, there is a change in demand and supply.

Future of technology:

The gaming industry evolved rapidly with 2D to 3D games but some amazing advances in technology make the gaming future brighter. The online gaming industry is the most growing industry for entertainment. There will be different business trends and technology trends.

The online gaming industry will focus on will be focusing on mobile as there is an extreme increase in mobile traffic as it covered 51 % of overall traffic. It is because of the ease of use. One can play anytime anywhere and is advantage of mobility.

There will be more virtual reality (VR) games developed as developers find it will be a good source of income.

The other focus of the online gaming industry will be linked to social media as user can chat or talk with friends while playing and post it on social media, one of the best examples is PUBG.

The new payment method can be developed by industry for ease in payment.

There will be involvement of player-generated content, the player can contribute to the development of games.

Cloud gaming is continuously developed as the gaming industry sees an opportunity to make gaming easy to access like music.

Some amazing technological advances to make the gaming industry brighter are facial recognition, voice recognition, gesture control, amazing graphics, high definition displays, and wearable gaming.