With the onset of globalization and the rise of social media, gamers across the globe are pristinely connected and collaborated. Gen Z has mastered the art of building gaming communities, interactive forums, discussion boards, etc. They do not just compete against strangers but forge genuine, long-term friendships too. The massive growth of the gaming industry during the Covid-19 pandemic has depicted how many youngsters have found a new outlet for connecting with other like-minded gamers. While credible gambling options listed here, have been a sure hit, video gaming, in its current format is one of the biggest competitors.
Real-Time Strategy Game Players Majorly Increased During 2020
When Covid 19 restrictions came down in 2020, millions of gamers across the globe chose to find their tech-fuelled distraction via video games, Netflix Party film viewings as well as zoom chats. The outer space-based game “Among Us” saw 100 million downloads during the same year. Jackbox games that incorporate video chat options as well as Pictionary-like classics were also significantly downloaded. Nintendo’s Animal Crossing: New Horizon was probably the most well-known game in 2020 during which it tripled its profits. Now, post-pandemic, the online rage for video games still remains. Especially with peer-to-peer crypto payments stepping up, which ensures anonymity and prompt payments in regard to loot boxes, in-game purchases, etc. In the United States, 4 out of 5 people played video games during the pandemic as per a study by the NPD. When many industries faced the backlash in 2020, the gaming industry revenue jumped to a 20% profit to $175 billion.
Steps Taken by The Gaming Industry To Build A Great User Experience
Post-pandemic, when there was a prominent surge of gamers globally, the gaming industry amped up its services by finding out the best ways to increase a satisfying user experience.
Voice-powered Gaming: Over a decade, the user experience has totally shifted from offline indoor and outdoor activities to online real-time video games. To cope with these changes, the esports industry has incorporated major events like the League of Legends World Championship which overpowered the Super Bowl. New gaming modes have incorporated real-time voice chats. This impact has been felt across the industry. Gamers can now indulge in conversations with their teammates by utilizing an audio codec. There are no boundaries regarding the clarity, location, and latency. This has increased the number of repeat customers over the years.
High-Quality Experience: Earlier, due to network congestion, and buffering, gamers suffered from poor audio and video qualities. When it comes to video quality in games, consumers need Quality of Experience (QoE) and Quality of Service (QoS). A fraction of a lag can hamper the unlocking of achievements and in-game features. Video games have adapted data servers that adjust to the changes in rendering video game streaming across all devices. They have improved the video solution in order to provide a frictionless operating system.
Impressive Gaming Statistics 2023
The gaming market in the US is worth $100 billion. Globally, over one-third of the population are active gamers. The US and China majorly dominate the gaming market. Audiences for the Global eSports are expected to rise above half a billion by the end of 2024. By the end of 2023, there will be 3 billion active gamers and 79% of gamers are adults. The revenue for gaming consoles reached $49.2 billion during 2021-2022. In 2022, there were over 47.4 million subscribers to the popular PlayStation Plus which is a 5.9 million rise from 2020-2021.
Conclusion
With significant growth in the gaming industry, it is clear that there are no signs of it slowing down. If we consider how huge the gaming industry is at the moment, it becomes hard to see massive growth due to the lack of a USP. However, gaming platforms have launched multiple gaming technologies like AR/VR, and new platforms like PS5 that are mainstream and would definitely help with upward growth over the next 5-10 years.
