How the gaming industry will grow by 2030
2020 will likely go down in history as the year when unprecedented social distancing and “lockdown” measures were put in place around the world in novel efforts to slow the spread of the Covid-19 virus. However, it was also the year that one industry – the gaming industry – saw truly explosive growth.
As Forbes reported in June of that year, this was in part due to the mass home confinement the pandemic response imposed, but only in part. A significant proportion of the growth has been driven by technological developments, from frankly dazzling improvements in game graphics to the continuing rise of online game streaming.
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The genres are expanding too, from heart-pounding, adrenaline-surging action titles to gripping fantasy epics to the rapidly proliferating variety of more traditional alternatives, foremost among which are digital casino games. Digitalized casinos that you can access through your browser or a dedicated smartphone app have made these games vastly more accessible to millions more people than they were in the days of brick-and-mortar venues. Venues that often-entailed lengthy travel beforehand. Then we have the latest craze among people, i.e. escape rooms. If you are also interested in escape rooms, book now and have fun with your friends.
The new popularity of these games is evidenced by the rise of specialist online resources that radically simplify crucial preliminary research tasks for prospective customers such as casino bonus search activities – vital for getting the best deals of the day before any gameplay begins. The savviest digital fans of casino games like to do their homework first, regularly checking in at expertly compiled bonus comparison sites like VegasBonus360 and reviewing the best available deals.
All of which raises the question of what kind of growth can the gaming industry expect to see beyond the pandemic and into the remainder of this decade?
The fact is that the gaming industry, in its early days rather “niche” in its appeal, is now already huge – larger than the movie and music industries put together – and continuing to grow quickly. One reason, we can confidently surmise, why tech leviathans such as Google, Meta and Apple are all now planning to get into the industry with their own game offerings.
Research by Statista confirms that the industry is on course to shatter the spectacular revenue total of $150bn it generated in 2020 by hitting $260bn as early as 2025.
The fact is that it’s not simply people sitting at home wanting something to do in their leisure time driving the explosive growth of industry, although their numbers are certainly growing vigorously. New technologies such as virtual reality are undoubtedly enticing newcomers in droves. There’s also fast-growing corporate activity in cloud gaming, video gaming, esports and online competitions too.
Experts such as gaming analyst Tom Pollack are confident that the global popularity of gaming will grow on a permanent basis. Acknowledging that advanced game development eats up a lot of money, he recently predicted:
“We’re talking about hundreds of millions of new customers in the next ten years.”
This industry not only has legs; it’s pounding forwards and leaping upwards on them like an Olympic decathlon athlete.