A massive, broad and hard-to-neglect market, gaming has been on a drastic rise due to the moves made by the developers in recent years. The gaming industry has always been believed to be a market where it gets super hard to succeed, followed by many failures. Even though there have been lackluster consoles like N-Gage by Nokia and flop games such as Square Enix’s Marvel’s Avengers despite having a big name, the gaming market is still making billions of dollars every year and is growing with a pace no one could ever imagine.
Mobile gaming is the fastest growing in the entire gaming industry. According to the studies, around $85 billion sales are generated via mobile gaming in 2020, which is more than 50% of the total gaming revenue of the year. Streaming services have boosted mobile gaming as it cannot be done on the consoles. Tech giants like Apple, Amazon and Google, and play services like Microsoft and Sony have launched either personal cloud streaming services or game subscription services, some of them have even rolled out both of them. Games are updated with new and interesting more, and better subscription offers to keep the users glued to the game.
When Microsoft bought Minecraft developer Mojang back in 2014, it paid $2.5 billion for it and the game sold over 50 million copies that time. In contrast to that, the sandbox development game in 2020, has sold more than 200 million copies and have around 132 million active users monthly. The difference shows how fast the company evolved and become a family of millions. Not only Microsoft but other giants, including Sony, Activision Blizzard, and Electronic Arts, have also acquainted various developers.
Gamers from various parts of the world account for 34% of the total world’s population, and the number is increasing continuously. The advancements in the gaming sector have hooked the gamers and are attracting more and more people.
Gamers from various parts of the world account for 34% of the total world’s population, and the number is increasing continuously. The advancements in the gaming sector have hooked the gamers and are attracting more and more people.
Infographic by: Visualcapitalist.com
