The online gaming industry is overgrown, with behemoths like Microsoft, Google, Tencent, and Nazara investing heavily in it.
The revenue from the online games segment is expected to reach $17,869 million by 2024.
The rise in the popularity of the online gaming industry is partially due to the increased accessibility that the public has to them. Some of the world’s most popular games, such as PUBGM and Fortnite, are available at one tap of the screen.
Everyone plays games for different reasons. Fantasy gamers play to escape from the real world. Casual players play to relax and take a break from the real world, while strategy gamers play to compete and work as a team.
Recent Growth of Online Gambling
In the past few years, the world of online gambling has expanded massively. The industry was worth $45.8 billion in 2017 and is set to hit the $94.4 billion mark by 2024.
With online casino sites offering a better win rate, getting secure and better day by day, more and more people are turning towards them. Gambling websites such as Betchan Casino offer a 98.7 win rate. You can read the full Betchan Casino review on Clovr.
Not only online casinos, but the digital betting industry is on the rise too. Companies like Bet365 have seen a substantial improvement in recent years.
Why Is Online Gaming Becoming So Popular?
One of the biggest reasons for the rise in popularity of online gaming is that gamers don’t need to buy physical copies of their favorite games. With the advancement in technology, players now don’t even need gaming-specific hardware to enjoy their favorite games.
All they need is an internet-connected device. Besides, it is available 24/7. Whether they’re waiting for someone at the airport or getting bored at home, online gaming can be the savior.
Another huge contributing factor is esports. With millions in the prize pool, gamers have started taking gaming very seriously. In fact, there has been a huge rise in the number of professional players recently.
As millions of people watch esports tournaments live, more and more companies have started investing in it, and it is getting better with every passing day.
AR and VR In Gaming
Pokemon Go was one of the earliest AR games in the industry, and it was widely accepted globally. Since then, developers have started creating various AR games.
AR games lure people out of their comfort zone and get some exercise while playing a video game.
VR enables gamers to immerse themselves in imaginary environments via a first-person view. From a business perspective, VR games help developers attract customers by offering new experiences and gives advertisers a unique platform to market their products.
From a gamer’s perspective, VR games offer an immersive experience, a new level of interaction, and better gaming content.
Online gaming is getting popular day by day. There are lots of factors contributing to the massive rise of the online gaming industry, such as better games, 24/7 availability, and better prize pools. Also, AR and VR are giving gamers a new way to play games.
Interesting related article: “What is gambling?“