The online gaming industry has grown rapidly since several countries began legalizing online betting. The market is expected to continue booming through the 2020s, as its popularity spreads globally. The more high speed internet improves, the most this trend will accelerate. Here’s a deeper look into how the online gaming industry will perform in the 2020s.
Reasons for Global Growth
One of the main drivers of online gaming is the quality of high speed internet. The more reliable the network is, the more online players are enabled to enjoy various gaming in real-time, which includes both free and paid games. The proliferation of mobile device has also contributed to growth in online pastimes. About one third of all players of online games use mobile devices.
The overall online gaming market is expected to grow 10 percent CAGR, reaching $79 billion by 2025, according to Adroit Market Research. This report was released February 14, 2020, stating online gaming is the fastest growing trend with the youth market (including teens).
New technology in improved connectivity is further helping pave the way for this expansive industry. The advent of G5 will provide faster networks and greater stability for playing online games in real-time. Meanwhile, software developers are constantly looking for new ways to excite online gaming fans. The more businesses allow employees to bring their own devices to work, the more workers will look for ways to have fun online during breaks.
Advances in AR, VR and XR technologies are adding further excitement to the world of online gaming. Another trend fueling the spread of gaming is the development of massive multiplayer online (MMO) games.
Free Online Fun
A primary attraction to online games is many can be played by anyone without leaving home or spending money. Using a site such as Get Lucky allows you to play online casino games without wagering money.
As the economy tightens for many young people, they’re looking for ways to enjoy themselves the best ways without draining their cash. But there are also young people with high paying jobs who have plenty of disposable income for games. Younger people generally face a more competitive job market and must be more careful with cash than older generations. Research by Deloitte reveals that American gamers 14 and older spend almost half their time playing games on mobile devices.
How Games Pay Web Publishers
Many of these gaming sites earn money through ad networks. If you have a website in search of a revenue model, adding online games can earn cash. The fact that online games are now everywhere and reach every age group should be interesting to a wide range of online businesses. Game publishers and sites that promote online gaming can take advantage of ad networks that have created an ecommerce ecosystem.
One of the most important formats for online ads is video, as interest grows for playable ads and free-to-play games. These emerging developments have helped create a renewed interest in banners. The target audience is also evolving with increasing interest from females playing games on mobile devices. About 39 percent of gamers are in the 21 to 35 age group and another third is in the 36 to 50 age group.
The market for in-game advertising is estimated to surpass $3 billion in the United States. Ad spending for mobile games rose 16 percent in 2019 and continues to grow in double digits. As ad technology improves, sites are earning more money from advertisers. Some of the ad networks with gaming that pays publishers include Google Ad Exchange, The Rubicon Project, CPM Star, Select Media and Playwire.
Big Game Makers
In the world of big games that cost millions to develop, top manufacturers include Activision Blizzard, Electronic Arts, Giant Interactive Group, Sony and Zynga. Many of these games ecompass complex graphics that add to their mystique. Faster internet, more robust hardware and advent of sophisticated gaming techniques are contributing to the surging popularity of online gaming.
E-sports is playing a major role in this growth as well. Sports fans can play multiplayer video games in real-time, as pros compete with amateurs. Online gaming is creating vast new territory and opportunities for adventurous consumers to explore.