Before we get into the topic of current trend and latest technology in gaming, let us get acquainted with gaming industry first.
A Brief on the Global Games Industry
The first video game was launched in the market around 45 years ago, and since then, the video game industry has taken a significant place in entertainment culture for children as well as for adults. Traditionally, game was confined to the solitary habit of people, but the scenario is entirely different in case of online gaming. Online gaming actively involves communities and thrives on interaction. This is the chief reason as to why the demand for multiplayer games is increasing in the gaming industry.
After console gaming, it was mobile gaming that rocked the global games industry. Ranging from iOS and Android to Windows, today, this form of gaming has taken place in everyone’s handsets today. In short, currently, this industry is booming under the shade of technology and would soon lead the industry.
According to Business Insights, the video gaming industry is going to escalate by 9% in 2013 and is going to cross total sales of around $76 billion. This is but quite obvious. As more and more people would take advantage of mobile Internet access, mobile and online gaming is certainly going to grow. However, the year is not going to be so good for console gaming and though, it is the market’s current segment leader; its rate of sales shall lose pace.
Major Segments of Market
According to the reports of Business Insights, the world social gaming market had almost reached the $1.5 billion mark in 2010 and it is expected that the market would reach close to $4 billion by 2015, with the US as the leading region, generating sales of around $1.2 billion. It would be followed by Japan which would generate sales around $570 million.
Reports also say that currently, there are 600 million social gamers in the world, and China ranks number one in this as it has the highest figure which is close to 110 million, followed by the US which has 95 million gamers. By 2015, these figures are expected to reach close to 275 million gamers and 150 million in China and the US respectively. While India is still in development with a significant high growth rate and will be a big competitor to these countries soon.
On the other hand, the Global Industry Analysts expects that the demand for Massively Multiplayer Online Games (MMOG) would thrust the market around $14 billion by 2015.
With more consumers accessing Internet via smartphones, gaming has become increasingly mobile. The research by Visiongain shows that more than 27% of smartphone users installed one or more games, while around 35% users have installed at least five games on their handsets. In order to capitalize on the trend of mobile gaming, mobile game makers and smartphone and electronic device makers have been collaborating.
Talking about the various game genres, sports and quiz games are getting great response globally, while traditional board games have also made significant presence in the market of mobile gaming.
A Quick Look at the Regional Market Shares
In the regional market, while China would continue to grow its share in the gaming industry, India’s gaming share is expected to see a good growth rate too. According to the reports of Netscribes, the gaming market in India is expected to grow by 30% by the year 2014.
On the other hand, China’s games and accessories market would continue showing strong, steady growth. Peripherals and accessories constitute the leading market segment, with an increasing demand for auxiliary devices to keep up with gaming product innovation.
There is another interesting report presented by Pearl Research. According to this Korea’s online gaming market reached a value of over $2 billion in 2011. On the basis of this report, it can be predicted that Korea can also show some significant results in the gaming industry in 2013.
Market at a Glance
The global gaming industry has witnessed a drastic increase in consumer demand and much credit for this goes to social networking, technological innovation that favors mobile gaming, and the popularity of cyber communities that promote online gaming.
Social networking sites continue to facilitate marketing and distribution and do much of the work by attracting potential gamers. Other factors that would continue to fuel the market are gaming competitions, creation of gaming zones and increasing popularity of MMOGs. As for the service providers, 2013 is going to be a profitable year for them as they are likely to generate higher revenues, and apart from 2D games, 3D games will also become increasingly popular.
However, IP protection and piracy continues to bother the industry as it continues to lose revenues due to illegal downloading.
Moving forward, the global gaming industry is going to be a strong contender for other media, which include music and television as well. As the entertainment culture continues to incline towards social networking and gaming, users are more likely to log in to play leading games (like World of Warcraft) than to switching on the TV to watch a movie or a daily soap.
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