In the present day and age, the transformation in the gaming industry has been at a fast pace, mainly due to the easy-availability of internet access. Over the years, innovations in technologies have created a new pathway for the online gaming industry.
Further, the online gaming industry is estimated to be worth more than USD 230 billion by 2022, and mobile gaming is anticipated to be one of the major segments to drive the market growth.
In the online gaming, both free-to-play (F2P) and pay-to-play (P2P) massively multiplayer online games are dominating the market.
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Boom in the Online Gaming Industry
The free-to-play (F2P) games, played by a large number of gamers simultaneously, over the internet, are very popular among the gamers. As there is no fee to play, gamers enjoy to engage in these gaming activities for long hours.
The F2P MMO games have quickly grown in quality as developers recognised their ability to produce revenue. Their revenue sources are mainly advertisements or in-game sales. Moreover, as these are free-to-play games, these generate significantly more revenues than pay-to-play games. Additionally, the video game producers are constantly working to optimise the F2P games.
The pay-to-play (P2P) games are played by a large number of gamers simultaneously, over the internet, where interested players pay to get access for playing games. The pay-to-play MMO games are for social networking platforms, exclusively. The gamers prefer pay-to-play option for various reasons, like extra features, challenges, and layers, compared to free-to-play games.
The Social networks are a very popular platforms for online pay-to-play games. According to a report, the most played P2P games are “Final Fantasy”, “Farmville”, “World of Warcraft”, and “Bejeweled”. Facebook has been recorded to have the highest traffic for multiplayer P2P social gaming, and gamers spend anywhere between USD 10 to USD 50 to play games on social media.
Casino Gaming Technologies
In casino gaming technologies, the most common pay-to-play online gambling has been massively increasing in the past several years and is expected to continue. The casino gaming activities that are highly trending among the gamers are Slots, Roulette, Blackjack, Baccarat, and Poker, among others. According to Statista, the online gambling market is expected to be worth USD 59.79 billion by 2020.
Most importantly, technologies, like the use of virtual reality in casino gaming to provide a virtual experience to the gamer that makes him feel like he’s at a live casino; live casinos, where players can participate in the live online casino with live dealers, real-time video, and real casino equipment that gives a real gambling experience to the players, are increasing the demand for the pay-to-play online casino gaming market.
Moreover, gamification in casino is also adding to the demand, as players are enjoying online casino games that offer storylines, narratives, avatars, unlockable content, etc. Additionally, the future seems even more interesting for online casino gaming, with emergence of cryptocurrencies, along with the blockchain technology, the players can have secure peer-to-peer casino gaming experience.
Image source: Online Gaming – What’s Next?
Trending Devices among Gamers
Since Pokemon Go took over the mobile gamers, in 2016, the mobile gaming industry has been skyrocketing and refuses to stop. Today, many more games are trending that mobile gamers enjoy playing, including Cash Royale, Final Fantasy Brave Exvius, Jellynauts, as well as candy crush.
According to newzoo, Mobile gaming is expected to be a USD 100 billion market by 2021. The rise in the mobile gaming is expected to lead others, like PC and console gaming markets, in the coming years. This is due to increasing usage of smartphone and tablet devices, which are expected to generate 59% of revenues in the overall market.
The console games, played on a device specially designed to play video game console, are commonly referred to as video games. The console gaming industry has been booming ever since the games like, Playstation series by Sony, Xbox series by Microsoft, Nintendo by Nintendo got popular among the gamers a decade ago.
The future of console is bright with these games continuing to trend even today, along with the new and improved games being launched at a competitive price by other companies. Additionally, companies are making investments in console, focusing to fully embrace live streaming and esports in the coming years, providing a more engaging experience to gamers.
The PC game, which is played on a personal computer, rather than on a console, has been the oldest form of online/video game, and has specific computer software and hardware requirements. The games, like League of Legends, Counter-Strike, Hearthstone: Heroes of Warcraft, among others are some of the most popular and trending in the PC games segment.
The downloaded/boxed PC games are expected to register a compound annual growth rate (CAGR) of +4.2%, generating over USD 32 billion, by 2021. The growth is mainly driven by competitive play and esports, translating to higher revenues. However, since a majority of players are switching from PC gaming to mobile gaming, this shift is expected to cutting down the overall PC revenues, comparatively, in the coming years.
Considering the technological advances that are anticipated to define the future, the growth and improvements is the online gaming industry seem unstoppable.