The Online gaming market has developed at a fast speed throughout the last ten years and a half. From ‘game and watch’ games to exceptionally famous open-world web based games, computer games have made some amazing progress as far as both – designs and the general gaming experience.
Out of the multitude of computerized patterns that have collected extensive footing throughout recent years, the internet gaming circle is at the front. The web based gaming market is blasting at a great speed because of a variety of elements like expanding infiltration of reasonable web, admittance to internet games, and enormous scope improvement of novel and connecting with multiplayer games.
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Digital Sales Peaking amid COVID-19 Pandemic
The advent of novel technologies including virtual reality, cloud gaming, augmented reality, has played an imperative role in elevating the uptake of online games over the past few years and the trend is expected to continue over the forecast period.
Another factor that is expected to boost the demand for online games is the rise of the competitive gaming industry. The online gaming market has paved the way for an array of online streaming platforms such as Twitch and YouTube among others. The onset of these streaming platforms has played a key role in pulling in large audiences and boosting sponsorship deals with online broadcasters and individual streamers.
While the shift toward online gaming gained considerable momentum over the past decade, the advent of the novel COVID-19 pandemic is expected to provide a substantial boost to the online gaming market. The gaming industry in the U.S. is tipped to generate more revenue than the movie industry in the upcoming years out of which, the online gaming market is projected to have a considerable contribution.
Cross-platform Gaming Coming to a Reality
The significant progress and evolution of online and digital gaming models is a major factor that is expected to drive the demand for online gaming. One of the leading factors that are expected to play a critical role in the development of the online gaming market is the advent of cross-platform gaming.
Gamer developers and vendors are increasingly focusing on consolidating their position in the competitive market landscape by rolling out games that are compatible with a myriad of gaming platforms such as Xbox, mobiles, personal computers, and play station to name a few.
Several gaming companies have identified the need to develop online games for all platforms to expand their consumer base. The gradual shift toward cross-platform gaming is a leading trend that is expected to propel the growth of the online gaming market over the upcoming years.
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Over the past few years, as the online gaming market continues to expand at a staggering pace, with it, online streaming platforms have garnered considerable traction. As online gaming continues to become mainstream, the demand for gaming tutorials and play through videos has witnessed a notable surge.
In the current scenario, several upcoming players, professional gamers, and gaming celebrities are increasingly using streaming platforms such as Twitch and YouTube due to which, large audiences are tuning in to watch their favorite streamers and games – a win-win situation for both; the streamer and the audience.
Online streaming trend is set to provide a massive boost to the growth of the global online gaming market over the next few years. While online gaming streaming platforms such as Twitch continue to gain popularity, content creators involved in the online gaming market are increasingly using YouTube to upload pre-gaming recorded content to draw audiences.
As online gamers continue to find value in these platforms in terms of engagement and monetary benefits, online streaming platforms are set to gain considerable popularity over the upcoming years.
Digital Sales Peaking amid COVID-19 Pandemic
The advent of novel technologies including virtual reality, cloud gaming, augmented reality, has played an imperative role in elevating the uptake of online games over the past few years and the trend is expected to continue over the forecast period.
Another factor that is expected to boost the demand for online games is the rise of the competitive gaming industry. The online gaming market has paved the way for an array of online streaming platforms such as Twitch and YouTube among others. The onset of these streaming platforms has played a key role in pulling in large audiences and boosting sponsorship deals with online broadcasters and individual streamers.
While the shift toward online gaming gained considerable momentum over the past decade, the advent of the novel COVID-19 pandemic is expected to provide a substantial boost to the online gaming market.
The gaming industry in the U.S. is tipped to generate more revenue than the movie industry in the upcoming years out of which, the online gaming market is projected to have a considerable contribution.
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Online Gaming Market: Key Players
Some of the key players of online gaming market include, Peak Games, Gree, Electronics Arts, Bwin. Party Digital Entertainment, King Digital Entertainment, Arkadium, Playdom, Fun Technologies, Riot Games, NCSOFT, GungHo Online, Giant Interactive, Zynga, Wargaming, Tencent, Microsoft, Sony Corp., Activision Blizzard, Ubisoft, Sega, Konami, Valve and Others.
Videogame Sales Witness Staggering Growth amidst COVID-19 Crisis
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