For anyone who pays attention to the online gaming industry, it is clear that there has been a lot of growth over the past few years. While online gaming has been around for a while, new developments in technology have meant that more people are logging onto these sites and playing games that they want to win.
Here, we are going to look at some of the reasons why online gaming has grown so much in the last decade so make sure to keep reading to find out more.
Types of online gaming
When we refer to the online gaming industry, it is important to recognise some of the different types of games that this includes. Online gaming can be anything from an online casino and slot games to online sports betting, MMOs, free to play gaming sites and even social gaming. Whether people are playing the popular multiplayer game Fortnite or spinning the reels at their favourite casino, they are indulging in online gaming.
How has it grown?
While it is hard to establish the growth of online gaming as a whole, you can look at certain aspects of it and understand their increase in revenue. In particular, the online gambling industry has seen a lot of growth in the past decade with revenue more than doubling between 2009 and 2017. Many people have predicted that the revenue taken in by the online gambling industry alone will rise to as much as 59.79 billion US dollars by 2020.
In regard to social gaming, you’ll find that the app industry has really taken off in the past decade with the industry growing from 500 million US dollars to 46 billion US Dollars in 2017. This is a huge increase and it shows just how much this industry has grown.
Reasons for the growth
There are many reasons why online gaming has grown so much in the last decade with one of the most important reasons being that technology has improved so much. In regard to the casino industry, mobile technology is now available and people can take a spin at their favourite mobile casinos from their mobile device. This improvement in technology has meant that more people are signing up to these sites and those that have already are able to play them much more often.
Other reasons why you might find that online gaming has grown in popularity over the past few years is that there is now such a huge selection of games available. In the past, players could only enjoy certain games online but now they can choose between MMOs, social games and a huge variety of online casinos. With such an incredible choice, it is clear that there is something for everyone in this industry. Online streaming services like Twitch and YouTube have also played their part in the increase in popularity of eSports.
Is it over?
You might expect that online gaming has reached its peak after so much growth, but this is not entirely certain. There is so much more potential for online gaming as technology improves and better features are added to games. The online casino industry is expected to be taking advantage of virtual reality when it becomes more mainstream and this is expected to boost revenue even more.
Otherwise, we expect that as games get more advanced and more people are aware that there is a variety that these types of games will grow even more in popularity. There already is such a big market for online gaming and so it is not expected to go away anytime soon.
Conclusion
When you look at the growth of online gaming in the past decade, you can see that it really is quite incredible. Many industries like eSports and online casinos have become extremely popular and people are logging on every single day to get their fill of their favourite games.
As time goes on and technology improves once again, we expect online gaming to be the most popular forms of gaming for a long time. Look out for the online gaming industry as it is set to be one
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