Monday, July 4, 2022

How the Trends in the Gaming Industry Have Changed Over the Past 10 Years

Video games How the Trends in the Gaming Industry are one of the fastest-growing IT markets in the world. This conclusion was made by experts from several leading research companies. So, according to the analytical agency Newzoo, over the past 10 years, revenue from game sales in the world has increased by 56% (by $70 billion), reaching a record $175 billion by the end of 2021. According to forecasts, by 2023,How the Trends in the Gaming Industry the capitalization of the global video game market will be $200 billion.

Since we are already on the threshold of a new generation, this review will focus on how online gaming has changed in the last 10 years, as well as the main trends that have changed both the $1 minimum deposit casino game and the video game industry as a whole.How the Trends in the Gaming Industry

#1 – MMO Games By Industry

Over the past 10 years, video games have become more accessible not so much in terms of prevalence as in the relative ease of creation. MMO games cover a wide range of genres, including both the well-known RPG (role-playing) and FPS (first-person shooters), and the relatively recent category of MOBA (a strategy with RPG elements). 

Prominent representatives of MOBA are Dota2 and League of Legends. The latter use a shareware distribution model (Free-to-Play, F2P) and today hold leading positions mainly due to their popularity in the markets of Asian countries. In 2021, the volume of the F2P market amounted to $17.1 billion, with 65.5% ($11.2 billion) belonging to the countries of the Asian region.

When it comes to games distributed by subscription (P2P), old brands such as World of Warcraft and Lineage 2 remain the highest-grossing in this category. This continues to hold a user audience for many years. Thus, the shareware distribution model today remains the most promising in terms of monetization, especially in view of the general trend towards cross-platform. Based on this, it can be assumed that the popularity of platforms on which F2P MMO will become a priority direction will only grow over time.

#2 – Digital Markets For Industry

If earlier gamers stood in queues for a disc with a new game, now most players buy entertainment without leaving their homes. So, according to Statista, 83% of games were sold in digital online stores in 2018, and this figure is constantly growing.

For example, in 2018, after the release of Call of Duty: Black Ops 4, the Chart-track website reported on the success of the game. In the UK, the project took first place among the best-selling games, but sales of physical copies fell by 50% compared to the previous WW2. Yet this did not stop the game from becoming Activision’s largest release.

Anthem, released in February 2019, showed similar results. Back then, the discs with the game were bought so reluctantly that retailers had to cut the price in order to help out at least a little money. At the same time, Electronic Arts said the digital version of Anthem was the most successful digital release in the company’s history.

Besides that, more and more studios are reporting that digital sales are the main source of revenue. Yes, add-ons and in-game purchases are taken into account when calculating the metrics, but the sales of the games themselves also count towards the overall coefficient.

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#3 – Esports Has Reached a New Level

Esports began to grow back in the early 2000s, but the so-called boom happened around 2013 and continues to this day. During this time, the audience, the number of tournaments, disciplines, and scale have grown. One of the most important growth indicators is the recognition of esports by the Olympic Committee.

If we talk about numbers, then in 2014, esports earned $194 million, and at the end of 2018, profits increased to $765 million. The audience has grown from 90 million viewers in 2014 to $165 million in 2018. In addition, analysts predict that by 2022 the figures will become even higher. Esports is expected to earn $1.8 billion, with a global audience exceeding 453 million viewers.

Esports Has Reached a New Level

The merging of mobile gaming and eSports has also become a notable trend in this area. Whereas earlier game competitions were held mainly on the PC platform, and sometimes on consoles, now there are mobile games competitions. Most of them are carried out by the project publishers themselves and on a smaller scale, but “mobile esports” has also gathered an impressive audience.

#4 – Return of the Classics

Fashion is said to be cyclical, but the same seems to apply to video games as well. Over the past decade, gamers have increasingly looked back in time. This interest is shown in the sale of consoles like the SNES Classic Mini, as well as games that position themselves as the spiritual heirs of DOOM, Mega Man, and others.

In addition, more and more often at major exhibitions, gamers hear announcements of remakes of the cult classics. In recent years, Resident Evil, Crash Bandicoot, Spyro, Mega Man, and many other projects have returned to the game. At the same time, genres that thundered in the 90s but faded into the background with the advent of high-quality 3D graphics are popularized now. Therefore, we increasingly began to play Metroidvania, classic party RPGs, and meat shooters without a plot but with cool shootings.

What Does It Mean?

Based on the above, it is clear that over the past 10 years, the volume of the game market has surpassed the revenues of the movie industry and is gradually catching up with the sports market. The revenues of individual companies specializing in the development and sale of video games amount to billions of dollars. It is also worth assuming that the online direction will continue to grow steadily, while sales of boxed versions of video games will decline. This will give a way to online gaming platforms, which will become the main players in the gaming industry in the future.

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