The online gaming industry is continuing to flourish and transforming into its most profitable state. It has come a long way from its humble beginnings back in the late 90s. Nowadays, it is a strong market with a continuous rise in total revenue.
This unstoppable rise of popularity and profit in the online casino industry can be attributed to the new technologies and innovations that are also being incorporated in the services in the industry.
If you ever wonder how much the global revenue of the gambling industry nowadays and what the future holds, then this article will provide you with answers.
What is the estimated projection of the global gaming industry?
According to the statistics, the international gaming market is projected to reach $256.97 billion in the year 2025. It is estimated that over 2.5 billion individuals around the world are playing online games. However, when 2020 arrived, console gaming had its slow growth rate ever since the year 2015.
The studies in the industry also recorded that at least $4.5 billion were spent by the players on immersive games in the year 2020. Also, by the year 2022, the total global audience of esports competitions is estimated to rise around 456 million individuals.
What are the factors that developed the continuous popularity of gaming?
According to the study that was conducted in the gaming industry for 2022, the biggest market of gambling nowadays is China, with the country ranked number one in the statistics. The next biggest market is the United States with a total revenue of $40.8 billion.
Casual games also dominated the gaming market with a growth rate of 29% and a total revenue of $5.1 billion. There is also a rise in the esports industry with at least 456 million people expected to be the total audience rate of the game by 2022. This sudden rise can be attributed to the streaming platforms especially Twitch that are helpful in giving the industry a global reach.
As of writing, the game franchise FIFA 21 is considered as the most successful online video game in the United Kingdom and other Commonwealth nations.
What is the future of the online casino industry in 2022 and beyond?
It is assumed that the future of online casinos is getting brighter with the dawn of new technologies that are being discovered that can be incorporated to the games.
According to the statistics, the atmosphere of gambling in the future is filled with virtual reality casinos, 3D slots games, live dealer games, and many more. The utilization of VR headsets is also expected to be much more popular as the industry is preparing to provide the players with a much more immersive gambling experience that emulates the feel of playing in Las Vegas casinos.
Also, with the introduction of cryptocurrencies awhile back, there is a rise in the interest of using this technology in their casino gaming. The platform is well-known to have the ability to make online payments much more convenient and secure compared to other forms of online payment.
It is also expected that the quality of the graphics being used in many gambling games will be further improved in the future with the introduction of 4K video resolution technology.
The bottom line
This year there is a sudden blow up of casino online engagement especially in the industry of gambling and sports. As the pandemic is still happening globally, there is an uncertainty whether the crisis can either be an obstruction or help to the online gaming industry. What is certain is that the statistics can tell that the future of gaming is bright.