Reshaping the way we interact with the world
The gaming industry is reshaping the way that we interact with the world, and it constantly inspires innovation by pushing the boundaries of what’s possible. The State of Online Gaming 2020 research report found that 38 percent of gamers would like to become professionals, as long as they can support themselves, watching gamers play online is more popular than watching sports for 18 to 25-year-olds, and on average, gamers spend 6 hours and 20 minutes each week playing games. Mobile devices also remain the primary gaming device, download speed still matters, and online gaming continues to be popular.
The content to be read here is part of an XP Sport report about gaming trends and gaming outlooks for 2021.
The full report can be read on >> xpsports.com
Furthermore, the proposition of investing in video games has never had a stronger test case than the year 2020. Thanks to increased interest in gaming, following it up is what’s next for the sector. The COVID-19 pandemic affected virtually every sector in the world, and in the gaming industry observers have noted that the uptick in time at home for consumers resulted in higher gaming sales.
The change in mentality from investors may have something to do with the gigantic year of spending in the gaming industry. It encompassed both hardware and software, and also involved the performance of in-game purchases from the biggest games available - those include Fortnite, owned by privately held Epic Games, in which players can buy cosmetic assets for their gameplay experience.
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Next Generation Gaming Consoles
Microsoft and Sony have both released next-generation gaming consoles at the end of 2020. The Xbox Series X console is available since November 10, and the PlayStation 5 console since November 12. This has been a long time coming, since both companies released their last-generation machines 7 years ago.
The main selling points for both new game consoles are realistic graphics and smoother game play, and both feature central and graphics processors from Advanced Micro Devices.
Mobile phones remain the primary gaming device, followed by computers, gaming consoles and tablets, according to the State of Online Gaming 2020. In the last 10 years, more than 2.2 billion people used their smartphones to play games. “As chipsets continue to advance we’re seeing mobile devices that are arguably on par with a PlayStation 3,” according to VentureBeat. “With people replacing their phones around every 1.5 years, compared to replacing consoles every five or six years, we’re going to get mobile devices that are arguably as powerful as PlayStation 4 or Xbox One. There will be billions of AR-enabled devices as standard in iOS and Android through ARKit and ARCore.”
Since 2017, the market share of mobile gaming revenue has continually increased, and research shows that it can grow by 59 percent before the end of 2021, according to “13 Current Gaming Trends: 2020/2021 Data, Statistics & Predictions” for CompareCamp.
Spectators overtaking Gamers
Gaming has become mainstream entertainment as a spectator sport. The State of Online Gaming 2020 report found that most 18 to 25 year olds would rather watch gamers play video games than watch sports. There’s an esports shift that’s about to take place, with the number of spectators overtaking the number of gamers around 2021. Gamer growth is projected at around 9 percent, while streaming audience growth is projected at 90 percent, according to VentureBeat.
“When audience growth overtakes player growth, that fundamentally flips the business model on its head,” says Erik Archer Smith, marketing director of data at Treasure Data. “That’s going to fundamentally change how developers have to approach their game, where you need to think about producing games with the audience in mind, versus just the gamer in mind.”
In 2017, esports had a total revenue of $655 million. In 2021, that number is expected to be closer to $1.6 billion.
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