Getting into a game with your friends is an awesome way to unwind, release tension, and have a good time. We now take this for granted since there are so many games at our fingertips, but it wasn’t always this way. The world’s first video game was invented in October 1958, and it was called Pac-Man. Then a video game Pong was conceived by physicist William Higginbotham in the early 1970s.
Since then, gaming has grown into a multi-billion-dollar business. How much will the gaming business be worth in 2022? You’re at the proper spot if you’re contemplating the same thing. Today, we’ll take a look at how far gaming has come and how much it will be worth in 2022.
A Quick Overview of the Gaming Industry’s History
The answer to the age-old topic of gaming’s monetary value has shifted dramatically over the last several years. Almost everyone has been influenced by gaming in some way, shape, or form, thanks to everything from legendary arcades to cutting-edge home consoles.
There are many individuals, young and old alike, who rely on it in their daily routines. The gaming business has seen fast growth, increasing from $59 billion in 2010 to a whopping $160 billion in 2020. Games seem to be gaining in popularity and becoming a more lucrative business than ever before. In the last decade, the gaming business has developed tremendously, and 2021 was another great year for gaming.
In the same way, gaming firms collaborate with other sectors to create unique events, commodities, and awards in an effort to boost sales and sell their products in a novel way.
Because of this, the industry as a whole continues to grow, generating more income for the firms involved. Technology advances like VR and AR and improved computer algorithms for more realistic images will also drive gaming to new heights, resulting in a rise in gaming income.
The Gaming Industry Is Now Worth $300 Billion Around the World
The gaming sector has surpassed the $300 billion threshold, according to Accenture’s recent analysis (Gaming: the next super-platform). It examines data from 4,000 players in the world’s most populous gaming markets. Gamers from China, Japan, the United Kingdom, and the United States were all taken into consideration in order to better understand their demands and the key drivers of the industry’s huge development.
The poll yielded some intriguing results. It was discovered that gamers spend 16 hours per week on average playing games, eight hours per week watching or participating in game broadcasts, and six hours per week communicating in different game forums or communities.
These interactions and occurrences are one of the key drivers of the online gaming industry’s development and have a favorable impact on how much the gaming business is worth. Approximately three-quarters of gamers also believe that gaming will play a larger role in their lives in the future. If you are one of them and you like playing, the follow this site to find a proper online gambling spot and read the reviews.
The Number of Players Playing Immersive Games Is Increasing
For sure, 2020 was an oddball year. It did, however, lead to amazing advancements in the immersive area and to many individuals banding together to play and enjoy a virtual world together. Players spent $4.5 billion in 2020 on immersive games, and that figure is expected to rise gradually through 2021.
VR and AR gaming headsets and peripherals are making huge advancements and showing the future of gaming, but conventional games are the key forces influencing the big gaming business.
As a result, it’s safe to anticipate that virtual and augmented reality gaming will become the norm in the future. Most games are already accessible to a big portion of the population through PCs and consoles, but the vast majority of people do not have access to these devices.
This is why streaming games are being developed as a subscription service that can provide games to any device, regardless of its hardware and performance.
As Netflix for games, it seems like it will be a success thanks to Google and Microsoft’s partnership. Microsoft’s service was fully operational in September 2020 and may be accessed by Xbox Game Pass subscribers.
As time goes by, the service is expected to improve. Stadia, Google’s gaming platform, is also making progress, enabling players to play games on their smartphone through streaming. The Chrome browser, Android and iOS mobile devices, and desktop PCs all have access to it. As a result, the gaming business as a whole is worth quite a deal.
Gaming Industry Worth
2022 is going to be a great year for the gaming business, and it has already surpassed all predictions. When the COVID-19 epidemic hit, many individuals found themselves with an abundance of free time.
As a result, many individuals turned to video games as a means of dealing with their feelings of anxiety and boredom. This has the potential to affect the value of the gaming business.
The sector has seen a dramatic jump in the charts as a result of this expanding trend. The gaming business is now valued at over $300 billion, and this figure is expected to rise as time goes on.
China is expected to be the world’s largest gaming market by 2022, according to industry estimates. By the year’s conclusion, it had brought in $40.8 billion in revenue. Immediately behind the United Kingdom was the United States, which raked in yearly sales of 36.92 billion pounds.
Smartphone game use is increasing at an exponential pace throughout the world. As a consequence, current trends in the gaming industry forecast that income from mobile games will reach $100 billion by 2023.
The popularity of video games has skyrocketed. By 2022, the video game business is expected to generate $300 billion in sales worldwide. Between 2016 and 2017, it increased by 10.7%, and from 2017 to 2018, it increased by 10.9%.
Mobile gaming is dominated by games that are both casual and hyper-casual. Were we able to answer your question on the value of the gaming industry? We were astonished by the huge numbers, and we hope you were, too! Until then!