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What is the future of gaming industry?

What is the future of gaming industry?

New technology and the introduction of a new generation of consoles has led to a boom in the sector. By 2024, Newzoo’s Global Games Market Report 2021 predicts that the games industry will hit $218.7 billion with a sustained growth of 8.7% per year. The number of gamers also continues to increase.

How much is the gaming industry expected to grow?

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Gaming Market Scope
Report Coverage Details
Market growth 2021-2025 $ 125.65 billion
Market structure Fragmented
YoY growth (%) 10.41

How much money did video games make in 2015?

$61 billion
Sales of video games in 2015 reached $61 billion, according to analysis firm SuperData, an 8% increase from 2014. Of this, the largest sector was in computer game sales and subscription services, accounting for $32 billion. Mobile games revenues were at $25.1 billion, a 10% increase from 2014.

Is gaming industry declining?

Lewis Ward, gaming research director at IDC, expects that part of the videogame industry to be a drag on growth: IDC expects console/TV spending to decline nearly 6%, to $62.75 billion in 2022.

What will video games be like in 2030?

We’ll see virtual reality (VR) and augmented reality (AR) become mainstream technologies by 2030. In response, game developers may develop new types of games with unique social features. In ten years, live streaming and virtual reality will define the way games are designed and played.

How is the gaming industry changing?

Perhaps the most interesting change in the video game industry is the expanding demographics of gamers. With more people playing games, creating demand for more immersive entertainment, and looking for easier ways to access games, the future of the video game industry looks bright.

What is the gaming industry worth 2022?

Key Gaming Industry Statistics 2022 The global gaming industry is now worth more than $300 Billion. There are 2.9 Billion players active worldwide. The Asia Pacific gaming industry reached a revenue of 72.2 billion US dollars.

When did gaming peak?

In 1982, the arcade video game industry reached its peak, generating $8 billion in quarters, equivalent to over $18.5 billion in 2011, surpassing the annual gross revenue of both pop music ($4 billion) and Hollywood films ($3 billion) combined at that time.

Why is the gaming industry growing so quickly?

Specifically, in North America, the industry continues to evolve due to technological changes that enhance gaming, such as augmented and virtual reality. Additionally, with the launch of cloud gaming, the number of internet game players has increased almost 100% midway through last year.

Is gaming getting less popular?

“Although we have seen a slight reduction in the percentage of Americans that play video games, we are still well ahead of the 73% we saw in 2019,” said Mat Piscatella, U.S. video games industry analyst for The NPD Group.

Are video games losing popularity?

According to the NPD’s 2021 Evolution of Entertainment report, 2020 saw the number of Americans playing games jump from 73% to 79%.

How will gamers look in 20 years?

It seems late nights playing video games isn’t good for you, according to this research model which has predicted what gamers could look like in 20 years’ time. The model predicts that gamers will have poor posture, dark circles under bloodshot eyes. And terrifyingly, gamers in 20 years’ time could look like this.