The video gaming industry has been attracting media reports and increased investments in recent years. During the COVID-19 pandemic, billions of people had to find new sources of entertainment during the global lockdown. Meanwhile, the increasing number of smartphones and mobile gadgets creates more markets for the video gaming and esports landscape, increasing demand for the industry.
With billions of dollars in space, the gaming industry is one of the most important and creative aspects of the 21st Century. The industry’s importance to social networking, entertainment, and culture are some of its driving factors. Here, we examine the video gaming landscape alongside its outlook on the innovative video gaming esports landscape.
Changing Global Video Games And Esports’ Landscape
When youngsters toyed with Pong joysticks while competing for the highest Pac-Mac scores in the 80s, little did the world know the gaming industry would blossom into the $200 billion behemoths it is today. Those simple games have now become the basis of today’s esports and video gaming sector.
Today, no one would satisfactorily address the ‘entertainment industry’ as an exclusive reserve of the movie industry, as video games, online jackpot games, and e-sports now provide some of the most immersive and adrenaline-rushing entertainment forms.
The continuous advent of new PCs, consoles, and devices hasn’t only helped to put the video gaming esports landscape right into the game. Video gamers now can watch some of the world’s best gamers compete via e-sports and streaming platforms.
A Highly Competitive Industry
However, more than the competition between renowned game players, console gaming manufacturing companies constantly battle for supremacy in the global space. Renowned gaming manufacturers like Microsoft (Xbox), Nintendo, and Sony (PlayStation) continue competing via new PC releases and emerging game concepts like Web3 and Metaverse games.
As if to trump the gaming industry by further surprise, Google and Amazon introduced new cloud-based gaming platforms to the racetracks. Moreover, these companies are pushing their limits by churning out state-of-the-art graphics, processing powers, and speed.
For instance, in February 2021, Electronic Arts Inc. purchased Codemasters, a racing game platform, to expand its racing games. Expectations are that EA sports will launch a new racing game annually. EA has also absorbed other franchises such as Formula 1, DIRT, Project CARS, and GRID (creators of Need for Speed, Burnout, Real Racing, etc.).
Other leading game manufacturers have also made similar purchases towards manufacturing the next generation of gaming consoles and keeping up with the competition. With the inclusion of Google and Amazon in the video gaming landscape, traditional console makers like Sony would do well to ensure that anyone with a modest internet connection can play their games anywhere.
Cloud Computing And The Video Gaming Industry Landscape
The video gaming industry has a range of innovations that have met the industry over the past few years, including cloud gaming technology. Cloud gaming technology allows players to stream high-end games across various devices like laptops, mobiles, PCs, and tabs. With fast network connectivity, the innovations of cloud computing technology eliminate the need for the traditional gaming PC/console.
Moreover, cloud gaming services aim to leverage hyper-scale cloud capabilities, streaming media services, and global content delivery networks toward building the next generation of social entertainment systems. These features have a high potential to positively impact market growth.
Talking about fast-internet access, the 5G network also has significant ways of driving growth in the mobile-based virtual reality gaming industry. In 2020, Architact, a games manufacturer, declared a partnership with Migu (a subsidiary of China Mobile, a telecoms company).
The partnership would allow Architact to incorporate Migu’s 5G cloud computing services into its games. The first project from the deal is Migu Quick Gaming, with Architact stating it intends to produce similar projects in the future.
VR And AR Gaming
With the increasing utility of innovative technologies, virtual reality, augmented reality, and mixed reality are poised to become the cornerstone of the gaming industry. Virtual reality companies like AltspaceVR and BigScreenVR are leading firms in this industry. According to a study, over 200 million users will use AR and VR games by 2025.
Another survey of investors, founders, and executives in the tech world reported that 59% of respondents agree that gaming would lead to VR-related investments and develop the VR gaming sector. Additionally, some significant vendors in the industry are concentrating on expanding the portfolio of their products while releasing new games and consoles into the markets in various forms.
For example, Microsoft 2020 unveiled its XBOX Series X and the XBOX Series S for its budget segment. At about the same time, Nintendo advanced the Nintendo Switch Lite. Sony, the Japanese gaming corporation, unveiled PlayStation 5, which featured an improved controller and visual effects for an improved user experience. Apart from releasing PlayStation 5, Sony announced the PC version of Horizon Zero Dawn and Death Stranding.
Besides cloud gaming and VR gaming, another innovative gaming sector is the Metaverse and Web3 games. The Metaverse looks poised to transform the 21st Century, maximizing the internet while collaborating with diverse investors and consumers globally.
An All-Inclusive And Growing Industry
Think of any popular sport globally, from football to basketball or sports racing. There’s something they all have in common: capacity-filled stadiums, passionate fans, entertaining commentaries, and highly-skilled athletes.
The same story applies to the e-sports world. Esports players are comparable with Lionel Messi or Rafael Nadal in their trade. However, these esports athletes aren’t smashing the ball against the opponent’s side. Instead, they’re outmaneuvering, outwitting, and outplaying their opponents in virtual spaces.
While thousands of screaming fans fill the stadiums to hail their teams on the real-world sports fields, millions globally watch esports superstars online. Today, over 70 million people view esports events. That’s more than the viewers of NBA finals or the NHL Stanley Cup finals. Esports’ growing fanbase is poised to rival any professional sport, drawing the interest of notable cultural icons and investors like Michael Jordan, Jerry Jones, and Drake.
However, investors and gamers aren’t the only direct beneficiaries of the boom in the video gaming industry. Streaming games and esports on various platforms has also seen massive success. Online gaming platforms like YouTube gaming and Twitch allow players to live stream and subscribe to their favorite games globally.
As a result of these streaming platforms, millions of streamers can now develop a fanbase, interact with one another and earn cash from their skills. According to a report, Twitch, YouTube Gaming, Mixer, and Facebook Gaming, the top gaming platforms, accrued a total sum of 13 billion watching hours in 2019. Significant successes like Tyler’ Ninja’ Blevins have reportedly raked in over $10m in a year from its streaming platforms.
In A Nutshell
The gaming industry has various segments, which are increasingly simultaneously advancing. Additionally, the increasing number of mobile gadgets and increased demand for esports and video games are feeding a heightening competition in the tech market.
Prominent companies in the industry like Microsoft, Nintendo, and Sony, keep trying to innovate new technologies and release novel gaming consoles, evoking rivalry in the global gaming sector.
Despite the humble beginnings of the gaming industry, its rapid rise looks to have just begun. The gaming industry isn’t only immersive and entertaining, it’s also all-inclusive and profitable. Virtually everyone has a game to play, making it one of the favorite industries in the world.