Technology is all around us and the growth in technology is exponential, leading to the rapid development of new and exciting technologies that are changing the world in which we live.
Nowhere is this being as widely felt as the online gaming industry. The boom in online gaming has coincided with the rapid development of technologies that enable better, faster, and more collaborative play.
According to Statista, the global video game market was estimated to be worth 115 billion US dollars and this is set to surpass 138 billion by the end of 2021. You only have to go back 10 years and the same market was worth just 52 billion USD – a huge growth over that period. This growth means that the gaming industry is worth as much as the music industry, film industry and subscription video market combined.
In order to keep up with demand, or in many cases, in order to drive demand, online gaming has invested heavily in technology in order to enhance the gaming experience. These advancements, coupled with the number of online games now available has opened up huge opportunities for advertisers and gamers alike.
Popular online games
According to eSports SCETEC, Crossfire is the leading online video game with over 1 billion registered accounts for the free-to-play, tactical first-person shooter game. It has a huge audience in China, South Korea and other eastern countries, however, it didn’t break the US and European markets to the same level.
Here in Australia, according to Google Trends, these are the most popular online games:
- League of Legends
- Red Dead Redemption 2
The big appeal of many of these games is two-fold. They all offer free-to-play opportunities and they can all be played with your friends, either via split-screen or from the comfort of your own home. The ability to game with friends for free is an area that many online gaming companies have invested in with opportunities for in-game purchases and plenty of opportunities for advertisers to reach specific audiences through online games.
Whilst the development of online games has undoubtedly contributed to the huge growth in the online gaming market, it’s not only the game developers that are embracing technology and driving the industry forward.
The way people play online games is also changing and technological advances are helping to drive that.
The introduction of high-definition displays through televisions and monitors with 4k capabilities, or through specific gaming laptops which also incorporate 4k capability, has taken gaming to the next level.
Gaming enthusiasts are also investing in a range of technologies that improve their overall experience including wireless headsets specifically designed for gaming, which enables collaborative play with people around the world.
Whilst the development of gaming-specific hardware such as 4K monitors, special keyboards and gaming controllers is helping to appeal to the gamin-enthusiast, perhaps the biggest driver of online gaming is the advancement in mobile technology. According to a report by Marketing Mag, mobile gaming is Australia’s fastest-growing entertainment channel.
The appeal of mobile gaming is for casual gamers who only have a few minutes to spare. Maybe they are waiting for a bus, stuck in a queue at the supermarket or simply have some time in between chores at home. These are the people that are driving mobile gaming, using their smartphone as their gaming platform and this is a sector that is seeing huge growth in Australia. By 2021 it is estimated that mobile gaming will generate the largest proportion of total gaming revenue worldwide.
Embracing interactive gaming experiences
Another industry embracing technology is the online casino and betting sector. Here, we have seen huge advancements in the way people are able to game online. One company leading the way in the sector is Betway, “Developed by our exceptionally talented people, Betway creates market-leading, cutting-edge interactive gaming experiences. We bring people closer to the action – putting them at the centre, making them feel a part of it.”
From the introduction of in-game betting to the development of new and exciting interactive games, these online gaming sites are leading the way when it comes to embracing new technologies that can lead to better experiences for customers.
The future of online gaming
Whilst there have already been significant advancements in online gaming, don’t expect this to slow down anytime soon. As reported by Marketing Mag, the segment with the largest expected growth in the next five years is VR (Virtual Reality) with video games and esports in fourth place and internet access in fifth.
When it comes to internet access, Elon Musk’s Starlink service is already available for pre-order in Australia and could be a game-changer when it comes to fast and reliable internet access for gamers across the country.
One thing’s for sure – the investment in the online gaming industry is set to continue apace, with leading brands continuing to push the boundaries of online gaming for players of all ages.