Popular with many people from all walks of life, the global games market has seen its value skyrocket in recent years and shows no sign of letting up. The velocity of this rise has led many to speculate if it will continue to grow for the foreseeable future. The figures would certainly seem to say so, as would the richness of offering within the gaming industry as a whole to the public.
Global games market growth and revenue
As reported on the Venture Beat website, PricewaterhouseCoopers predicts that its value will rise from $71.3 billion dollars worldwide in 2015 to $90.1 billion dollars in 2020.
This rapid growth and increase in value is even more amazing when you see that it is much higher than other forms of entertainment such as movies or TV, that have traditionally been seen as more popular. With no sign of it slowing down anytime soon, many wonder if it can continue to rise into 2020 and beyond.
Predictions for 2020
Many experts believe that the global games market can only get bigger, with Newzoo carrying this report on the astronomical figures involved. The continued year-on-year growth since 2009 would support this suggestion, but what is driving this expansion, and can it go on at such a rate?
Virtual reality gaming and online casinos
One of the big drivers in the global gaming market is the popularity of online casinos – these are listed on websites that help people to pick the best live casino, and the list sums up the number and choice of this segment of the market currently. This choice, along with the ability to play “live” with a real dealer so that you still get the authentic casino experience, explains why many choose to play this way.
Mobile phone gaming
Many players now use their smartphones to play various games, and this convenience has seen people who traditionally didn’t play games drawn into the industry. The ease of use and attraction of having something fun to do on a long commute explains why this has been the case. Developers have also realized this trend and made games specifically designed to be played on smartphones. Titles such as Angry Birds are examples of this type of game and show just how popular they can become.
Online gaming
Another aspect of the gaming market that has really helped it along is the online gaming section. Players have really enjoyed being able to play their favorite game online with friends and have a social experience rather than playing on their own. A real innovation when it first came out, this has proved to be a valuable part of the industry. Though standard now in most games, it wasn’t long ago that this was a barely conceived dream by developers and shows how much the industry has grown.
With all of the data and expert opinion indicating that this is a market that will only continue to grow, the future looks bright for global gaming as a whole. It is entirely feasible that the estimated $90.1 billion value in 2020 will be outstripped in the years to come afterwards. With new games and technology coming out all the time, there has never been a better time to be a gamer.
