The video game industry has been lucrative for generations, from the earliest cabinet arcade titles to today’s cross-platform online entries. The global gaming industry was valued at over $170 billion in 2020, and according to a recent industry forecast, it is expected to grow approximately 80% by 2026. This projected growth makes the space of the one of the most promising video games for businesses — especially with the various new and improved mechanics that can deliver titles to consumers.
Here, we’ll look at three areas that are democratizing access to games and pushing the boundaries of new ways to interact with interactive media.
One of the biggest Democratic shifts in gaming came unpretentiously, as home PCs became increasingly common in American homes. The humble web browser is an indispensable portal to information and resources on the web, but as the average computer’s processing power grew, so did its ability to run games directly in the browser. One of the main corners of the gambling industry where this can be found is casino gambling, where sites can offer a wide range of online slot machineslike Go Fish and Tiki Magic, for casual gamers to connect and play without downloading or needing additional technology.
With in-browser gaming, barriers to entry to playing online games are removed for those less inclined to engage with specialized hardware or complicated downloads. From early 2000s flash games to fancy 3D titles and even legacy titles like Doom and Mario, the possibilities for website-hosted games have expanded dramatically – and continue to do so.
Advancement of GPUs
The graphics processing unit, or GPU, is a fundamental aspect of the technology behind video games, and its continued development over the past few years has enabled unprecedented advancements in the graphics capabilities of games in the industry. Achievements once considered impossible, such as laser trace are now achievable with new business units. This growth in commercially available technology inspires healthy competition among developers, drives innovation, and increases the quality of games available to consumers, all of which ripples into growing profits.
Virtual reality and the metaverse
The future is especially bright for the gaming industry, as tech giants turn their attention to new technologies and their introduction to the mainstream. VR technology has sparked major interest among tech companies, with years of research and development culminating in the successful launch of products such as the Oculus Rift and Sony’s proprietary PSVR headset. As the capabilities of virtual reality come to fruition, new gaming platforms are being developed. Chief among them is the metaverse, an online virtual world in which users can meet, work and play. Much like browser games before it, the metaverse could be a great leveler for access to video games, as well as a lucrative stimulus for new developments and business opportunities.
Innovation is the lifeblood of the video game industry and the central factor behind the potential increase in value of the industry over the next half-decade. With advanced technology becoming more widely available to consumers around the world, the number of opportunities in the gaming space continues to grow.
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