This essay sheds light on the future of the video game industry and explicates how emerging technologies will revolutionize the video game industry. Moreover, why Esports have become popular is delineated in this essay.
Author: Dr Harrison Sachs
This essay sheds light on the future of the video game industry and explicates how emerging technologies will revolutionize the video game industry. Moreover, why Esports have become popular is delineated in this essay. Furthermore, how to earn substantial money online so that you can afford to procure your own modern video games is expounded upon in this essay. The future of the video industry will not only be characterized by dynamism as it continues to metaphorically evolve, but will also be eminently auspicious for video game publishers, video game developers, and customers. The future of the video game industry will be more grandiose than ever envisioned, especially as emerging technologies further revolutionize the behemoth video game industry. In other words, the future of the video game industry will not be solely limited to shovelware mobile games pervading the video game industry. "The global gaming market was valued at $151,550,000,000 in 2019 and is expected to reach a value of $256,970,000,000 by 2025, registering a compound annual growth rate of 9.17% over the forecast period of 2020-2025. Game developers across emerging economies are continually striving to enhance gamer's experience, launching, and rewriting codes for diverse console/platforms, such as PlayStation, Xbox, and Windows PC, which are incorporated into one product provided to the gamers through the cloud platform. The emergence of cloud gaming" ("Gaming Market - Growth," n.d.) has helped to substantially drive video game industry growth. In the coming years, cloud gaming, mobile gaming, PC gaming, and even console gaming will become all the more prevalent. "Recent advances in advanced cloud technology have turned the idea of cloud gaming into reality. In cloud gaming, the server, where all the games are stored, does all the computation work, which includes game scene rendering, game logic processing video encoding, and video streaming" ("Gaming Market - Growth," n.d.). The rising popularity of Esports, gaming streams, and gameplay videos have also contributed to the growth of the behemoth video game industry. It stands to preponderantly reason that the future of the video game industry will not only allow the video game industry to reach an unprecedented pinnacle of success, but will also attract more competitors to enter the sizable video game industry. In the coming years, similarly to video streaming subscription services, such as Netflix and Amazon Prime Video, customers will have more video game streaming subscription services available to them with a broader selection of titles to choose from playing. In other words, for a monthly subscription fee of $5-$10 per month, customers will be able to have the option to stream a myriad of video games on their consoles or their PCs. In the coming years, video game streaming subscription services will not be limited to "Xbox Game Pass, PlayStation Now, Geoforce Now" ("The Impact Of," 2019), and Google Stadia. "This new sector is also seen as a serious competitor for the traditional game market" ("The Impact Of," 2019). The traditional game market is no longer the utmost lucrative segment of the sizable video game industry. The future of the video game industry will offer far more to customers than merely just traditional console games. The future of the video game industry will also offer more to gamers than "virtual reality and augmented reality" (Koss, 2020) video game experiences. In 2019, the video game industry generated over $6,300,000,000 in revenue (Koss, 2020) from "augmented reality and virtual reality" (Koss, 2020) video games. Much to the relief of gamers, "companies are busy making virtual reality experiences more consumer-friendly, and it is only a matter of time before both the weight and price of virtual reality headsets drop" (Koss, 2020). Augmented reality video games on the other hand do not require a bulky headset to play and allow gamers to "interact with reality" (Koss, 2020).