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what Is Influencing the Growth of Gaming Industry?

 
   
     
 

Industry Outlook

 

Global demand for game development services is expected to reach USD 757.52 million by 2027, growing at a CAGR of 14.59% from the estimated market value of USD 334.63 million in 2021. The market for video games is enormous. In actuality, it has also surpassed both the music and film industries in terms of size and revenue as well, and it is still expanding.

The gaming sector produced more than $155 billion in revenue in 2020. Analysts forecast that the sector would earn more than $260 billion by 2025. Industry experts also suggest that in terms of recruiting, a huge amount of skilled game developers and designers are also required. But the problem the gaming industry is facing is the shortage in the manpower pipeline. For meeting the shortage of skilled manpower reputed institutes are providing game development courses.

As a result, tech firms are attempting to tap into this source of income as well. Tech behemoths including Google (GOOGL), Apple (AAPL), and Meta (META), formerly Facebook, have all announced their plans to enter the video game market. There is also a high need for game developers as a result of the need to produce games with a tonne of animation and graphics when new technologies are introduced.

 

The current trends of the industry that are influencing its growth:

 

Growth in mobile gaming (using smartphones, tablets, and laptops)

 

Over the past few years, there has been a huge increase in apps for smartphones and tablets, as well as games being available for these devices. This is largely due to the increased interest in owning a mobile phone or tablet, as well as their greater accessibility than computers. Since people find it more convenient to play games on their phones or tablet compared to their computers.

 

Impact of the App Store

 

The App Store has allowed for the creation of new apps and games that are easily accessible to users. This means that developers can create games specifically for certain platforms (such as the app store or x-box marketplace), providing direct sales to users rather than relying on a publisher, who would then have a share in profits. This has led to an increase in the variety and accessibility of games since developers can now focus directly on creating good quality products rather than competing with each other on the number of levels played, etc.

This has also led to an increase in innovation since developers are not under such a tight schedule as they are when working with publishers. 

 

The need for more playable and interactive games

 

According to the ESA (Entertainment Software Association), the average age of gamers is 35 years old, with an 82% increase in female gamers between 2016 and 2022. This shows a change from the traditional stereotype of video game players being youngsters. As seen by these numbers, shows that video games are no longer a niche product for teenagers, but rather become increasingly popular among the older generation as well. As such, gaming companies are now looking for ways to create products that will appeal to both younger and older gamers. Video games have started to shift from being mostly single-player games to multiplayer ones. These multiplayer games include features such as "Matchmaking" where players are able to find and play against other players with similar levels of skills.

This has led to an increase in the quality of graphics and sound since developers want their games to stand out. This is because the quality of graphics and sound directly impacts how appealing a game is, as well as its accessibility to users. The most popular games now offer high-quality graphics and interactive gameplay, which leads us to our next point. Moreover, an increase in online gaming has to lead to the change from traditional gaming to online gaming since this is more convenient for many people since there are no limitations on time or location.

 

 

Greater emphasis on quality rather than quantity

 

As a result of the increasingly competitive gaming industry, there is an increasing need for developers to focus on creating good quality products rather than the number of levels played or pieces of content contained in their game. The demand for game development is More emphasis on the quality of graphics and sound in games rather than the number of levels or pieces of content. Growth in indie game development is also largely a factor since this allows developers to focus on creating good quality products.

 

Final Thoughts

 

The potential of the gaming industry provides promising futures for the $930 million sector in the nation. By 2023, it is anticipated that the domestic gaming industry would add more than 10,000–12,000 direct and indirect jobs as per the Economic times. Learn more about why game development is growing as an alluring career option in India.

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Industry Outlook

 

Global demand for game development services is expected to reach USD 757.52 million by 2027, growing at a CAGR of 14.59% from the estimated market value of USD 334.63 million in 2021. The market for video games is enormous. In actuality, it has also surpassed both the music and film industries in terms of size and revenue as well, and it is still expanding.

The gaming sector produced more than $155 billion in revenue in 2020. Analysts forecast that the sector would earn more than $260 billion by 2025. Industry experts also suggest that in terms of recruiting, a huge amount of skilled game developers and designers are also required. But the problem the gaming industry is facing is the shortage in the manpower pipeline. For meeting the shortage of skilled manpower reputed institutes are providing game development courses.

As a result, tech firms are attempting to tap into this source of income as well. Tech behemoths including Google (GOOGL), Apple (AAPL), and Meta (META), formerly Facebook, have all announced their plans to enter the video game market. There is also a high need for game developers as a result of the need to produce games with a tonne of animation and graphics when new technologies are introduced.

 

The current trends of the industry that are influencing its growth:

 

Growth in mobile gaming (using smartphones, tablets, and laptops)

 

Over the past few years, there has been a huge increase in apps for smartphones and tablets, as well as games being available for these devices. This is largely due to the increased interest in owning a mobile phone or tablet, as well as their greater accessibility than computers. Since people find it more convenient to play games on their phones or tablet compared to their computers.

 

Impact of the App Store

 

The App Store has allowed for the creation of new apps and games that are easily accessible to users. This means that developers can create games specifically for certain platforms (such as the app store or x-box marketplace), providing direct sales to users rather than relying on a publisher, who would then have a share in profits. This has led to an increase in the variety and accessibility of games since developers can now focus directly on creating good quality products rather than competing with each other on the number of levels played, etc.

This has also led to an increase in innovation since developers are not under such a tight schedule as they are when working with publishers. 

 

The need for more playable and interactive games

 

According to the ESA (Entertainment Software Association), the average age of gamers is 35 years old, with an 82% increase in female gamers between 2016 and 2022. This shows a change from the traditional stereotype of video game players being youngsters. As seen by these numbers, shows that video games are no longer a niche product for teenagers, but rather become increasingly popular among the older generation as well. As such, gaming companies are now looking for ways to create products that will appeal to both younger and older gamers. Video games have started to shift from being mostly single-player games to multiplayer ones. These multiplayer games include features such as "Matchmaking" where players are able to find and play against other players with similar levels of skills.

This has led to an increase in the quality of graphics and sound since developers want their games to stand out. This is because the quality of graphics and sound directly impacts how appealing a game is, as well as its accessibility to users. The most popular games now offer high-quality graphics and interactive gameplay, which leads us to our next point. Moreover, an increase in online gaming has to lead to the change from traditional gaming to online gaming since this is more convenient for many people since there are no limitations on time or location.

 

 

Greater emphasis on quality rather than quantity

 

As a result of the increasingly competitive gaming industry, there is an increasing need for developers to focus on creating good quality products rather than the number of levels played or pieces of content contained in their game. The demand for game development is More emphasis on the quality of graphics and sound in games rather than the number of levels or pieces of content. Growth in indie game development is also largely a factor since this allows developers to focus on creating good quality products.

 

Final Thoughts

 

The potential of the gaming industry provides promising futures for the $930 million sector in the nation. By 2023, it is anticipated that the domestic gaming industry would add more than 10,000–12,000 direct and indirect jobs as per the Economic times. Learn more about why game development is growing as an alluring career option in India.

 

 

 

 

 

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