Online Gaming: How The Concept Thrived Into A Multi-Billion Dollar Industry Throughout The Years (infographic)

So, starting from heavy graphics oriented PCs to the virtual reality headsets now, the way we play games has immensely changed over time - since the world was first introduced to the concept of video games.

Within a span of just few years, the online gaming industry also sky-rocketed in terms of usage and popularity. In fact, according to the recent estimates, collectively the companies that make online games possibly will make $200 billion in revenue till 2023 and with that being said, the online gaming industry overall is also already the fastest growing in the whole world.

But how did this all happen, especially with such a humble beginning? What is the future of online gaming? These are the questions that the world wants to know the answers for and to shed light on it in a better way, we are presenting a timeline of the rise.

Rise of Online Gaming

The history of the first prototype of games goes back to the 1950s when scientists made their first attempt but the gaming console was still first introduced only in the 70s. The concept of online gaming even came more late in the 90s after the internet culture evolved.

If you look at the slowly evolving process of online gaming in the years (highlighted in the infographic below), then the first perception would be that technology stood as the backbone for it to thrive, but in reality, there were other important factors also at play throughout the evolution period.

Other Major Components of Online Gaming

A lot of people in the gaming world, for years, have remained confused between two terms “online gaming” and “eSports”. While many have always considered them as one, the truth is that eSports is just a segment of the entire online gaming market out there. The whole industry revolves around the following other components as well.

With the ecosystem well in place, there are now multiple revenue streams for all the stakeholders in the industry. And now with mobile gaming, there is more room for growth.

Why Mobile Is The Future of Gaming? (Statistically too)

Mobile as the largest gaming platform at the moment has raised a revenue of $68.5 billion in 2019. These numbers stand as 45% of the total market figures which include competitors like PC and tablet.

Despite being a new segment of the industry, nearly 2.4 billion people have played games on mobile in 2019. People are continuously enjoying the seamless user experience and engaging features which come in the form of in-app purchases or loyalty rewards.

Now as the 5G era is about to be the new norm, you can also expect the pocket-sized gaming consoles to go even bigger by introducing more innovation in entertainment.

New Mediums of Gaming Entertainment

Some of the technological possibilities associated to making the online gaming industry even better have already started taking place.

Virtual Reality:
In more recent news, Oculus and Valve have announced a cheaper VR headset option. They are doing to make the blurring line between fiction and reality more easily accessible to a wide range of audiences.

Cloud Gaming:
With fast and more reliable internet connections, gamers will now enjoy streaming the games rather than playing on consoles.

Real-time Personalization:
The world can expect games to generate content automatically based on the player data (player’s personality & playstyle to be exact) in the near future.

Once all of these technologies develop, there is one thing for sure that user experience will grow bigger than the imagination of players, there will be more opportunities for brands and advertisers. Last but not the least, many industry players will thrive while others may also fall down.

Whatever the case is, we can only expect the gaming industry to continue to dominate in times to come.



Graphic courtesy of: VC.

Read next: Extended Reality Gaming And The Future Of Sports (infographic)

No comments:

Post a Comment