Since the 1970s, the gaming industry has been constantly evolving. Benefiting from technological inventions, the PC gaming demand grew and reached $37 billion in revenues in 2020. The mobile gaming sales reached $77 billion in income. But this market is more than just entertainment and free games in casino.
A long way lies behind the first slot machines and now small computers that we enjoy today.
The customers of the first generation, of the 1970s, are now adults and have a better and hopefully stable income. That is where the main buying power is concentrated. Firstly, because it is a memory of a beautiful childhood, and secondly, if they have children, they are more able to understand the desire to play video games.
Thanks to the wide range of products, everyone can find something suitable. Regardless of gender, age or income.
Demand is demonstrably greater than that of the film and music industries combined. With 2 billion users, that makes up 26% of the world's population.
GAMER AS A PROFESSION
Every year there are competitions for gamers, which attract a huge audience and also have a high price tag. No matter what genre you prefer - football, shooting or fighting - there is a tournament waiting for you. E-sports convention also attracts a lot of people. In 2019, such events were watched by about 397.5 million people around the world. This number is steadily increasing. In 2021, it was already 474 million. According to forecasts, it will increase even further to 577.2 by 2024.
Huge streaming platforms make high profits from broadcasting these events. Pop-culturization has supported this demand for e-sports. It is common to see famous singers or rappers performing during these competitions.
The market will likely continue to grow in the coming years. Surveys have shown that 30% of respondents have spent money on downloading games in the last 12 months. Followed by 23% who said they spent on in-game purchases and 22% on subscriptions. 15% of respondents on a data medium. Interestingly, the percentage of 20% who have not spent any money and 29% who do not play games at all.
Nevertheless, experts predict the continuation of the growth. By 2025, revenues are predicted to reach $260 billion. Thanks to the attractiveness of the market for TEch giants.
You can look forward to new developments in this area and escape from reality.