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Covid-19 has wreaked havoc not just in the lives of millions but also in the business world. While a plethora of businesses and industries witnessed an all-time low due to the pandemic, the global gaming industry made an exception. With people locked indoors for most parts of the year, they had time to try online gaming, downloading, and play new games and consoles.
Seeing an increased shift towards online video games, experts believed that the video game industry would generate a revenue value of $179.7 billion in 2020. Although the actual statistics deviated slightly from the estimated figures by $17.38 billion, still the gaming world showed a massive growth amid Covid. By the end of 2021, a revenue of $146 billion is expected to be generated in the market. Additionally, the market is likely to hit a mark of nearly $300 billion by 2026. So, the industry’s growth is perpetual in the next five years as well.
Recent reports suggest that the Asia Pacific is a significant contributor to the worldwide success of the gaming industry. In 2019, the Asian gaming industry has accounted for a revenue value of $72.2 billion. We have expert reports indicating that the revenue from Asia Pacific markets will go beyond$174 billion by the end of 2021.
Growth in the Online Gaming Market
At the same time, there is a constant rise in the gamers’ population in Southeast Asia. This particular world region is gradually making a shift from conventional gaming to online gaming. Therefore, we expect as many as 250 million mobile gamers from Southeast Asia alone between 1st January to 31st December 2021.
Amid this, we cannot miss out on Africa and the Middle East, which has a regional gaming market estimated at $6 billion by 2021. These two regions, Africa and the Middle East collectively have an emerging market for gaming because of several reasons. A major one being that it is occupied by young gamers who have a predilection for gaming, particularly online games. We could also expect the gaming companies to cater to the entertainment needs of the Middle East Arabic-speaking population.
In addition to these, every third person in America has engaged in video games in Covid-19 times. This has led to a substantial rise in the number of online gamers in North America. Apart from this, the technological advancement in this region has also accounted for the growth in the gaming market. South America with its large online mobile gamers has also contributed to the increased revenue in the gaming industry across the globe.
Let’s have a glance at the global industry figures:
A surprising surge in the esports audience worldwide:
Witnessing the pace at which the gaming industry is heading ahead, it is estimated that the esports audience the world over will grow to almost 456 million.
Esports will reach a new milestone in terms of revenue in 2021
Statistics suggest that esports was valued at $947.1 million by 2020. Based on these numbers, experts predict that esports will be valued at $1.084 billion this year.
Activision Blizzard is dominating the gaming industry
Activision Blizzard has designed and developed several popular games like Call of Duty: Black Ops, Call of Duty: World of War, and Call of Duty: Modern Warfare. Activision Blizzard is followed by Nintendo and EA that are well-known for Mario Cart and Star Wars games respectively.
Thus, the future of the online gaming industry post-pandemic is impressive. Furthermore, with the emergence of online gaming platforms like Joker388, the users will enjoy an immersive gambling experience with VR handsets and live dealers.
That implies that they would have a chance to experience the thrill of a real casino from the comfort of their home. Seems exciting, right? And there is more. Big changes are making their way to the gaming world. And we can’t wait to witness all of them in real. Stay tuned for more.