The online gaming industry has changed the way people view and play games. Forty years back, no one could have predicted that people will get to play games online. But with the invention of the internet and advanced technologies, online gaming as of today has become the norm. In other words, people prefer to play games online. Previously they would play with gaming consoles, but now just by clicking on an app, they can get easy access to all sorts of games. The gaming industry has shown tremendous growth and is estimated to be valued at $196 billion by 2020. It is indeed one of the fastest-growing industries.

The online casino industry forms a major chunk of the online gaming industry. It is slowly replacing the traditional brick and mortar casinos. Online casinos provide a wide range of games starting from poker, Blackjack, to mobile slots, roulette, etc. There is a game for every player. With online apps, gambling has become accessible and convenient and also an easy way of earning quick cash. Now people do not have to go out to visit a casino. They can enjoy a Las Vegas type casino experience just by sitting at homes thanks to the inclusion of live features and virtual reality.

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Tracing the growth of Online Gaming

The journey from conventional gaming to online gaming is an interesting one. The first game design took place in the 1950s but gaming consoles came into existence in the 1970s. With the invention of world wide web and internet technology, online gaming became more prominent. Digital Stream was introduced in 2003 that enabled the buying, selling and reviewing online games. The World of Warcraft that was launched in 2004 became one of the most popular online multiplayer games with an active subscription of more than 10 million users. 2009 saw a tremendous spike in the popularity of Minecraft which became one of the best selling video games across the world. And 7 years after, the augmented reality game Pokemon Go generated high revenues within the first few weeks since its launch. Apart from technology, the user’s interest, the evolution of games, convenience, etc. have become of the major driving forces of the online gaming industry.

Important elements of Online Gaming

Online gaming is one big industry. Things like eSports, fantasy sports, casinos, virtual reality and augmented reality games fall under the purview of the online casino industry. Each of these industries caters to the preferences and needs of a specific audience type. Online gaming has opened multiple platforms for revenue generation. With the advent of mobile gaming, there is more scope of growth.

Mobile is the game-changer

Mobile gaming has made online gaming more accessible. It has emerged as one of the largest gaming platforms accounting for $69 billion in revenue by the end of 2020. PC and tablet occupy 45% of the total online gaming market. Even though it is a new market, it has amassed around 3 billion players in 2019. More and more people are shifting towards mobile gaming owing to its flexibility and innovation. The mobile apps provide a very engaging and seamless gaming experience to the users along with additional features like bonuses, loyalty rewards, in-app purchases etc. There are also a variety of games available for each player. Since the disposable income of people is increasing, many of them can afford to buy cell phones. With 5G technology slowly taking over mobile technology, accessibility will become more convenient and gaming even better.

The advancement of technologies in online gaming

The technological innovations in the gaming industry have changed the way people perceive gaming altogether. Virtual reality games are increasing in terms of growth and popularity. People can now interact with the elements of the gaming environment. Game developers like Oculus and Valve have created cheaper handsets to make it accessible to a large segment of the gaming population. Cloud gaming has made gamers switch from gaming consoles as they can now stream games online. Personalised gaming is said to be the next big thing in the gaming industry as players can customise games according to their interest, personality and playstyle. Many brands and advertising companies are tapping the online gaming industry to sell and promote their products and services.