The Rise of Online Gaming Industry

The Rise of Online Gaming Industry

The modern day has come a long-long way from where it started. It started from tabletops and now the time has come for virtual reality. The online gaming industry is expected to reach $196 billions by 2022. This makes it one of the fastest growing industries in the world. The industry started on a really slow pace but this humble beginning was crippled by the lack of internet penetration and technological backwardness. As the time progressed the online gaming industry dived into a future which is full of possibilities

The Humble beginning of the online gaming

The early prototypes were prepared in the 1950s but they were just prototypes, not the final products. It was only possible in ‘70s that the first gaming console was introduced. Slowly during the 90s the industry started get into the groove. The rise of internet played a huge role in the popularity of online gaming. There was a time when gaming was possible offline only but now most of the offline games for example casinos have been shifted to online also and offering casino sites on internet for the players to enjoy gaming from home. Online platforms of such gaming are now collecting more revenues than offline. By the year 2004 the world was gearing for the launch of warcraft, which laid the foundation for the online multiplayer games. These games saw over 10 million copies sold in the same year. Then the year 2009 was worth noticing when Minecraft games announced their arrival to the gaming world. This had a massive impact on the world of gaming as over 176 million copies were sold. This was the same year when apple announced in-app purchase feature for their apps which made their profits rise to heaven. By the year 2015 there were already 1.5 billion gamers all over the globe. For me the most important announcement to the industry was 2019 when the google released stadia, a cloud-based gaming service that allows gamers to play without the console. The technological advancement has played a huge role in the evolution of the gaming but there are other factors involved that are needed to be addressed.

The Components that Needs Attention

The online gaming ecosystem is more complex than you can imagine it involves a lot things that are often ignored or less talked about. The ecosystem is enormous that involves distributers and retailers that provide platform for selling. Hardware developers are important as they are the infrastructure. The software developers and streaming services have seen some massive improvements.

The future of the Online Gaming

The future of online gaming is undoubtedly the mobile gaming. It is already the largest gaming platform. It is relatively a new segment of the industry but it is already astonishing. The 4G internet has taken the online gaming by storm. The modern-day smartphones have huge capabilities as they have multiple uses, so people don’t have to buy a console. This makes it the perfect fit for the developing countries with more population and less income. The smartphone gaming is likely to be pumped by the 5G internet. The hardware possibilities of the smartphones are already competing with the laptops and other gaming consoles. This well might be the new age of entertainment.

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