Online gaming, or E-Gaming, has now grown into an industry that stands on its own. The online gaming scene exploded into the mainstream and made a massive impact on the markets and stakeholders. With further new games being made and new technology such as VR being implemented in the gaming world, there will be a massive rise in the gaming industry.
With its current growth, it is estimated that the gaming industry will reach $196 billion by 2022. It is one of the fastest-growing industries on the planet. The value of online gaming is larger than other traditional forms of entertainment like music, tv shows, and movies combined. Though online gaming has been around since the 1990s, it gained popularity in the 2000s. The shift of online gaming on mobile phones also did a whole lot of good in the industry.
Esports competition also opened up a lot of new employment opportunities to the people. Esports is just a small segment in the whole online gaming ecosystem. This single segment of this vast ecosystem makes billions of dollars alone. The jobs on offer are high-paying. The other segments in the gaming ecosystem include retailers, distributors, developers, streaming services, gaming arenas, game publishers, etc.
Mobile gaming is now being in the spotlight. Games like PUBG Mobile have immensely increased the mobile gaming trends, and there are now Esports tournaments held just for mobile games. Mobile game development is strongly considered the next big step for gaming, and a concept of the pocket-friendly console is also being contemplated. With Nintendo Switch, a possibility of a compact yet powerful console is seen. Other than mobile phones, Virtual Reality, Augmented Reality and Cloud Gaming are also the next big thing that can change the whole dynamic of the gaming industry forever.
Take a look at the following infographic to visualize the value of the online gaming industry.
Infographic by: visualcapitalist.com