Mar 01, 2021 Games
Gaming, and primarily mobile gaming, continues this unstoppable course at the top of the entertainment industry. We live in an age of game enthusiasts where people are playing more games than ever before, as they seek ways of social interaction and recreational courses to spend their free time in an environment of confinement and isolation. Having no doubt that the gaming industry has reached unimaginable heights. But most do not know how much impact it has on modern economies. What would help you understand gaming's influence is to compare the gaming industry with that of the cinema, taking a straightforward example.
Avengers: Endgame has become the most commercially successful film of all time, with the largest box office opening in history, grossing $ 357,115,007 million in ticket sales. In its first week of release, the Grand Theft Auto V grossed over $ 1 billion in sales. However, all those games that you probably play but are not on the "traditional" console devices are still a significant part of the overall gaming industry. In fact, mobile gaming has made the most significant contribution to the ever-growing gaming market. Considering the existence of smartphones and tablets, it is almost half of the entire gaming market, raising more than 70.3 billion dollars. The mobile gaming market offers a considerable percentage of the gaming industry's total revenue, which should not go unnoticed.
Of course, an essential role in all this rise of gaming was the generation of millennials. Having consoles in every home has become almost necessary for these modern generations of people. As tremendous technological advances have been made over the years, the era of millennials and later generations have grown up in a lifestyle in which games are a social outlet, an interactive alternative to the medium of television, and even a way of, in some cases, with which they can make money. The older generations were never intuitive about adopting new technology but were always open to simplified forms of games. Your mother, who remembers playing solitaire on the family computer in '97, is the same mother who plays Words with Friends on her smartphone. Or even your father, who may have never played video games, now has a mobile app installed that allows him to play online casinos at any time.
As you can see, the current gaming market is estimated to include more than 2.3 billion players worldwide, but that is a growing number. As generations grow older, the millennial generation may be the first generation of adults - and then the elderly - to show a deeper connection to the development and understanding of video games. This means that the gaming market, which currently costs several hundred billion dollars, will continue to expand at an unstoppable pace and in the long run, according to the Newzoo site survey. The toy industry is expected to grow by $ 180.1 billion end of the year, an overall increase of 10.3%. These are really decent numbers, considering how important it is for a private company to maintain a double-digit growth rate over a decade, let alone for an industry that has existed for many decades.
Within a decade, compared with 2012, mobile gaming grew from the smallest segment to a $100 billion industry for this year 2021. In the coming years, mobile game revenue growth will exceed conventional gaming options, raising $ 106.4 billion for 2021. By then, smartphone and tablet games will generate 59% of total revenue across the market.
In closing, video games' popularity, especially mobile games, has seen unprecedented growth and profitability in the last 10 years in the markets. Today's brands would be wise to take advantage of this new power and influence that mobile games have in pop culture and user choices. It is noteworthy that mobile games content that presents such an enormous scope also records high rates of user loyalty and engagement.