The gaming industry has heavily increased its position in the global market over the last few years. In 2020, it reached $198 billion and accounted for 20% of the overall media economy. For comparison, in 2016, the gaming segment occupied just 12% of the dedicated market.
Industry monitoring has become an essential point for thousands of experts all over the world. The more innovations are introduced in gaming, the better client acquisition becomes. The Online Casino Market company has been in the sphere for over 12 years, and its thorough analysis of different sector representatives has never stopped.
Let us see, which entertainment providers have excelled the most, especially in the recent period.
Market Share of the Gaming Industry
The catalyst for the popularity increase throughout 2019–2022 was a pandemic lockdown. A lot of people were left without the opportunity to entertain themselves outside the home. Consequently, gaming turned out to be the most accessible way of unwinding.
Each region has its key market representatives. The top 25 organizations hold almost half of the segment. At the same time, smaller companies still follow the industry trends and tend to implement them even faster than the leaders in gaming.
The total capitalisation of the entertainment market was $198 billion as of 2021 with the following distribution and compound annual growth rate:
- Asia-Pacific — $64 billion (35%), CAGR — 6.6%;
- North American — $57 billion (31%), CAGR — 7.7%;
- European — $47 billion (26%), CAGR — 13.3%;
- Latin American — $9 billion (5%), CAGR — 0.8%;
- African and the Middle East — $3 billion (2%), CAGR — 1.1%.
Most Innovative Companies in the Gaming Industry
Such names as Sony, Electronic Arts, and Blizzard Entertainment are undoubtedly the biggest in the global amusement sphere. Their products appear on the store shelves regularly and are quickly obtained by players.
Other firms are also actively developing their brand awareness in terms of gaming. As a result, new products appear on the market from various organizations:
The company is focused on clients who want to get the most out of their subscriptions. Apple concentrated its gaming innovation on the possibility to engage in the same activities on any device.
For just a minor monthly fee, Apple Arcade proposes unlimited access to over a hundred titles available on iPhone, iPad, Mac, and Apple TV.
A huge leap in augmented reality gaming was made through Minecraft Earth — a massive project that was aimed at utilizing the popular building game and real life. Plans were to encourage socializing and make entertainment more active.
Unfortunately, the pandemic was not only in favor of gaming development. It made it impossible to utilize Minecraft Earth to its fullest. At the same time, the project showed how interactive the innovations of the industry can be.
Two Bit Circus
The company has created a new generation of virtual reality arcade games. The possibilities are practically unlimited and involve running with guns, flying planes, performing surgeries, and dozens of other VR activities.
Two Bit Circus is one of the most innovative organizations that combined old-fashioned entertainment with the latest technological advancements.
Physical inactivity and excessive weight are familiar problems for some gamers. The Zwift organization approached the issue with a creative idea and manufactured an exercising bike that also works as an engine for the game.
Participants mainly course online around long-distance tracks. It is also possible to ride across different cities or take part in ranked competitions with other users. It allows combining 3 main aspects of absorbing gameplay: socialization, entertainment, and benefit.
What is the most unique way of earning money? Epic Games has shown that providing free access to hundreds of games (not indie but AAA titles) is a key to colossal success. Such a policy from the company attracted almost 200 million users to its e-store.
Epic Games’ profits have become so influential that they have been able to sign contracts with 2K (gave away Borderlands 3) and Rockstar Games (gave away Red Dead Redemption and GTA V).
Playing games develops a lot of skills and increases people’s knowledge. Moreover, it can save lives. Simulators from Level Ex allow doctors to practice different scenarios in the environment with maximum realism. Everything from the removal of polyps to the placement of stents is available for participants.
Convenient virtual training is of good use for students as well as practicing doctors. Furthermore, the American Medical Association has acclaimed the app and its skill-improving mechanics to the point of funding the project substantially.
Future of the Gaming Industry
Considering the modern trends of the sphere, it is quite easy to predict where the entertainment segment will advance the most. Improvement of technical elements is the priority for a lot of manufacturers, so the focus will be made on the affordability of hardware and similar aspects.
Top 3 developing trends in the entertainment sector:
- Online gambling. The post-pandemic period has solidified the popularity of casino sites. After the Coronavirus made a lot of ground halls pause (or even cease) their operation, players rushed online for the alternative manifestation. While many thought the spike in casino software popularity is temporary, the activity levels did not drop in 2022. Gambling sites are convenient, full of versatile entertainment, and secure for participants to enjoy.
- Cloud gaming. Users now can play titles with high requirements on low-end devices. This is achieved by using a fast internet connection to broadcast the gaming process instantly, without any delays. Many companies have already introduced cloud services: GeForce Now (NVIDIA), PlayStation Now (Sony), Stadia (Google), Xbox Cloud Gaming (Microsoft), etc.
- Console market. Computers are no longer leading equipment for the sphere. Game consoles offer a user-friendly and simple interface compared to desktops and focus mainly on entertainment. The key representatives in the console market are Nintendo (Switch, Wii), Sony (PlayStation), and Microsoft (Xbox).
The firms that supply gambling services are some of the most progressive in the entire gaming industry. A great example is an aggregator Online Casino Market. The organization experts keep their eyes on the latest trends of the world’s advancements and adapt them to the necessities of the iGaming sphere.
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