WHY IS THE ONLINE GAMING INDUSTRY GROWING RAPIDLY

We have all heard the phrase of blessing in disguise and how something can be beneficial even if it does not look. That is what happened during the COVID-19 lockdown when we started to live the majority of our time behind closed doors. In doing so, we did come across a lot of isolation, and sometimes we experienced stress. But overall, we came to know how we could reinvent our lives and lead them differently. It allowed many of us to undergo moments of self- recognition and actualization. In other words, it enabled us to utilize the available time and try new things.

That is when we got to know and understand the notion of crisis in opportunity. We started to take part in activities that we were not able to before. We found ourselves interacting with our friends and getting in touch with long-distant relatives. Several people opted for recreation or started to pen down their observations about the lockdown. Some started online careers, while many became online gaming enthusiasts. If we combine the elements of discovery and excitement and make new friends, gaming comes out as the ultimate solution.

And this is why online gaming is increasing and finding new users and gamers at a fast pace. According to careful estimates, there are, at present more than 2.5 billion gamers worldwide. The numbers will cross 2.6 billion in the ongoing year, with the global market touching $165 billion. It is a logical outcome of the rapid digitization and modernization of our era. 

It is a lucrative market that offers many incentives. Many gaming and streaming businesses have now entered the industry, as the number of gamers increases. And, the fact is, the streaming and gamers both earn a lot. Now you must be wondering how you can make a career out of it too. Or, in relatively more straightforward words: where to be on e-sports to secure a well-earning career? To answer this question, we will walk you through the various sources that make the industry thriving. Let us begin.

  1. New Enthusiasts Every Year

One reason anyone wants to join the gaming industry is the increase in the number of gamers every year. In other words, it is turning into one of the largest communities online and provides a sense of belongingness. If we look at the stats, we find no less than a 5.22 percent increase in the number of gamers every year. And this is a significant number, depicting a steep and consistent rise.

It may be to the extent that the industry would surpass the spectators for all conventional sports. Yes, sooner or later, it might affect the number of spectators who turn up at a stadium to watch a match traditionally.

  1. Advanced Game Consoles

The second reason we see significant growth in the industry is due to the newer and better consoles. Like any other industry, there is a continued development in the market to offer their users the best experience possible. Therefore, we see several companies competing to provide their end-users with the best experience. Similarly, they launch new and improved versions to retain and grow the customer base. Surprisingly, this helps attract new customers as well, which increases the market potential.

Whether you talk about the Xbox series, Sony Play Stations, or other popular systems, they are all in demand. Understandably, advanced systems allow gamers, streamers, as well as spectators a better overall experience. And, their participation continues to increase at a gradual pace and elevates the status of the industry.

  1. Increasing Use of Devices

Another way the gaming industry is benefiting is through the increasingly high usage of the devices. Let us understand from a small example. When smartphones came, they allowed newer uses of phones other than calling or sending and receiving messages. And now, companies develop phones with the objective of gaming in mind.

Now, think of the rapid increase in internet usage and smartphones and think about it from the gaming perspective. The more the devices have a global outreach, the more significant expansion the gaming industry will have. Not to mention the more remarkable and better technological solutions, giving it the boost. Similarly, augmented and virtual reality plays a significant role in the excessive use of smartphones for gaming purposes.

  1. Breaking the Monotony

The gaming industry is witnessing a boost for many reasons, and it is preferably from a psychological point of view. Let us think about it this way: the human brain does not like monotony at all, and it seeks some variation. And, gaming has been addressing the same thing. If you observe it closely, you will see the spectators’ interest because the industry gives them more control and free will.

With online gaming, the spectators do not have to wait for hours sitting in a stadium. And, they do not have to spend hours to get a glimpse of their favorite players. Now, they have their favorite players available, that too in an interactive format.

  1. All-in-One Facilities

Another crucial aspect concerning gaming is related to the interconnectedness of the devices. Now, all devices are in one place, complementing the game and refining the experience. The gamers have a hub for interaction. It is also where Data Science and gaming come together. When gamers participate, they generate data. And this data allows the companies to develop even better offerings, consoles, and rewards.

Final Words

Online gaming is one of the leading and fastest-growing markets, and it is exceeding all expectations. Whether it is the spectator, the gamer, or the companies, everyone benefits on a large scale. We can easily see the reasons for traction and money in the gaming industry.

However, if one needs to step in to make a promising career or business, they will need to consider the niche. That means that aspirants should know where they fit and establish themselves for a substantial earning. Once we find our expert spot, we can create a strong impact and achieve success in the industry.

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