The gaming sector is gearing up to be one of the most profitable sectors on a global scale. It is expected 2023 to reach a value of $372 billion. The rise of the gaming market made it a dominant sector in entertainment and attracts over 3 billion gamers worldwide, and that number is expected to increase to 3.32 billion by 2024.
It’s an ever-changing and dynamic market impacted by many different factors, which are not only limited to technological advancements. In this article, we will cover some of the greatest trends that you should watch out for in gaming.
Cross-Platform Gaming
Cross-platform gaming has quickly become one of the most dominant trends in the market. Early on, it was challenging to create games that are compatible with multiple systems and devices, but thanks to tech advancements in this sector, that has become a reality, and it is actually quite a necessity for many gamers that want to be able to access the same games on any device of their choice. Otherwise, it’s also expected for developers to create games that are not only mobile-friendly but also accessible on both game consoles and computers.
Blockchain and Crypto
Blockchain-based technology offers a lot of opportunities for game studios and gaming platforms. It enhances the security of the gaming site. Cryptocurrencies represent another technological innovation that is designed to provide seamless, fast, and secure payments it can be integrated with in-app purchases or any other models that require you to make payments while you play the game. Cryptocurrencies are based on data encryption technologies to prevent cyberattacks and to protect that data from third parties.
Also, due to the decentralized blockchain network, the crypto payments are quickly processed with lower transactions fees. So, it is unsurprising that many gaming platforms, including all even online casino sites, integrate cryptocurrencies into their gaming platform.
The benefits are numerous for both parties, and it also allows online casinos with the best odds to connect with an audience of crypto casino players.
Esports
Esports are associated with live audiences, professional gamers, competitions, tournaments, and even brand sponsorships. No one could have predicted that, eventually, gaming would become a ‘sports’ category on its own.
It is one of the most profitable gaming categories, valued at over $1 billion in 2021. It is a global phenomenon that gave rise to competitions associated with PUBG, Multiplayer games, and it attracted a huge audience. For example, around 73 million online users watched the League of Legends World Championship in 2021.
Cloud-based Gaming
The main reason for the rise of cross-platform gaming is the development of cloud gaming services. Increased costs of gaming, coupled with the lack of modern gaming gear, turned brands toward alternative solutions that would provide a seamless gaming experience on all desktop and mobile devices.
With cloud gaming, this will change because gamers will have access to a library of new modern as well as older titles without spending more money to purchase and download the games directly to their devices or invest in new gaming equipment.