The rising popularity of video games is not making it a surprising fact that the gaming industry is getting wider. The video games industry generates $135 billion in 2018. Do you know that this industry is slowly and silently making its presence in the world of entertainment? Does it seem as strange as blockchain for you? Well, it is quite obvious because whenever it comes to talk about the entertainment industry, most people relate it with movies, TV serials, and music.
For no doubt, there is a lot of fun, action, drama, and glamor in the film industry. But, statistics suggest that the video game sector is now contributing more than these two industries. The global game market is predicted to produce US$152.1 billion, while the revenue rate of global music and global box office industry was US$19.1 billion and US$41.7 billion respectively in 2018.
The Emergence Of E-Sports
E-sports an acronym of “electronic sports” involves the use of video games. E-sports tournaments refer to the multiplayer video game competitions that are played between teams of skilled and trained players. Some of the most popular titles that are widely enjoyed by gamers include Counter-Strike: Global Offensive, Dota 2, StarCraft II, and League of Legends.
Those days are no longer when gaming was only the way to pass the time. The rising popularity of e-sports tournaments has converted casual gaming into the competitive game of skills and team play that are offering the lucrative prizes even tens of thousands to millions of dollars to players. For example, the Dota 2 tournament has offered the prize of US$34 million.
The gaming culture is now becoming a sport that brings profitable channels from merchandising to online advertising, live events, brand endorsements, and live streaming services. Hence, it is not a surprising fact that e-sports are becoming the billion-dollar industry that is contributing a lot in the fabulous growth of video games industry over the big world of entertainment.
Smartphone Use
The smartphone segment is estimated to contribute 41% of all gaming and gambling revenue by 2020. The biggest industry of video games comprises the use of mobile, console, and PC gaming. Among all these three, mobile gaming is the most significant segment that accounts for US Dollar 68.5 billion of the total expected profit this year. It has been increased by 10.2% from that of 2018. In the gambling space mobile plays a dominant part. According to All Casinos India, most users are using the mobile to visit their favourite casino. It is predicted that mobile gaming will take up 59% of the international video game market by the end of 2021.
Console gaming, on the other hand, is expected to produce the US $47.9 billion in revenue, which will be a 13.4% increase from the previous year. PC gaming is estimated to generate US Dollar 35.7 billion, which is 4% more than the last year.
According to the statistics report, console gaming will be 22% of the video game market by 2021. While PC gaming will take up 19% of this market. From these statistic facts, it has been proved that mobile gaming has been contributing a lot to the growth of the video game industry.
