The gaming industry has been rising in popularity for years now and is now becoming bigger than movies and sports combined. In the Year 2022, the revenue for gaming reached $184 billion and the number of gamers is expected to hit approximately 3.6 billion by 2025. Usually, when we think of gamers, the first section of society that comes to our mind is,” Children”. However, 38% of gamers lie between the ages of 18 and 34 years and surprisingly 16% of gamers are older than 55. Thus, evidently, gaming culture is evolving into the mainstream and influencing several lives.
Future of Virtual Reality (VR) in Gaming
For decades, Virtual Reality (VR) had three–dimensional simulations that could be accessed by headsets with the prospect to provide a fully immersive experience. However, the technology had been slow in delivering its promise. However, VR is still a preferred niche.
As a result, to make it more versatile and acceptable industrial giants like Meta, Playstation, Samsung, and Valve ventured into the VR industry with heavy investments. This trend of investment is likely to grow at 30.5% by 2028. To make the experience more interactive several VR games like VRchat and RecRoom started offering social experiences by allowing their users to interact and hang out with each other in real time.
Augmented Reality (AR) is a Long Term Gaming Technology
Since 2016, Augmented Reality (AR), which is a kind of gaming technology broke out onto the gaming scene in a big way. This is when Pokemon Go, an AR mobile game with digital objects became a favorite choice. The game generated approximately $1 billion every year since its release making AR the biggest success story of the gaming industry.
Going forward with Meta expecting to release its own AR glasses in 2024 there is certainly there can be some new AR–based innovation for gamers in the days to come. According to the reports of BIS Research, the AR market was roughly around $3.5 billion in 2017 and is expected to reach $198 billion in 2025.
AI Revolutionizing the Gaming Industry
Although AI as a complete concept plays a significant role in game development. However, the AI–generated art can change the graphics industry in the long run. The AI Art would allow designers to create a horizontal-scrolling shooter game for the industry. Cardona Rivera sees a future in which AI will act as a game master and call the shots for the human player.
On a broader level, the global Artificial Intelligence market was valued at $136.6 Billion in 2022 and is further projected to reach $1,581.70 Billion by 2030.
Cloud – Gaming is the Talk of the Town
On the other hand, cloud gaming has directed the wave into the gaming industry with Amazon debuting its cloud offering called Luna in 2020, followed by Netflix which hired its first vice president of gaming in the year 2021 to explore the potential of Cloud–based gaming. Alongside, Microsoft also reported that around 20 Million people use its Xbox, the cloud gaming service. Thus, the adoption of cloud–based gaming is expected to grow and hit $3 Billion by 2024.
Future Free – to – Play and Metaverse Games
Recently, the Free –to – play games have exploded in popularity too with most gamers ranging in the category of 35 years and seeing it as a casual gaming habit. This market of free-to-play games is expected to grow at an estimated value of $ 83.6 Billion in 2023.
Another undeniable technology in the gaming industry is the Metaverse. It is the virtual ecosystem that leads gamers to experience next – a level of the gaming environment. The metaverse gaming projects largely work on a decentralized approach as the future is decrypted. As per the recent survey conducted on 5,521 metaverse gamers, the largest group of users was found to be under age 20.
Blockchain Reshaping the Blockchain Games
Another popular category of games is Blockchain games, which are also known as P2E games. Blockchain technology has altered the idea that Games are a waste of time as now it helps to earn. In many countries, people see P2E games as the mainstream occupation. Reportedly, the blockchain gaming market is estimated to grow at a pace of 70.3% between 2022 and 2027 from $4.6 Billion to $65.7 Billion respectively.
Thus, the game development industry has high potential with technology making the grand remark every now and then. So, if you also aspire to have your gaming application developed, hit our website www.centrelocus.com with your queries, and will reach out at the earliest.