The Gaming Industry!
The gaming industry is a significant contributor to culture, entertainment and technological advancement, with PC, console and mobile gaming companies using cutting-edge technology to reach an audience of over two billion people worldwide.
Gaming Industry Overview
The gaming industry is a highly important and innovative sector in the tech world today. Its importance to culture, social networking and entertainment is very significant. The term “entertainment industry” now includes gaming, which provides one of the most immersive and awe-inspiring forms of entertainment to more than two billion people around the globe.
Who could have imagined the gaming industry would be where it is today when people were playing Pong in their basements? The gaming industry of today is a $200 billion powerhouse that is constantly pushing the boundaries of technology and entertainment. We not only have the continuous advent of new consoles, PCs and devices that are putting us right into the game, but we also have the opportunity to watch some of the best gamers in the world compete in the e-sports arena and online through streaming platforms like Twitch and Mixer.
The console wars are heating up, with Microsoft (Xbox), Sony (Playstation) and Nintendo vying for supremacy, and Google's new Stadia platform shaking things up. Traditional console manufacturers will begin to compete with Stadia and Amazon's cloud gaming platform to make their games available to anyone with a decent internet connection.
Soccer, basketball, and baseball are all sports that have passionate fans, sold-out stadiums, engaging commentators, and world-class athletes. Like traditional athletes, e-sports athletes train intensely and compete against the best in their field. There are thousands of screaming fans that have packed the arena to root on their teams who are sitting on stage and clicking away for a chance at a title; while millions more are watching online around the world.
By 2020, it is projected that e-sports will have a viewership of more than 70 million people for a final. This would be more viewers than the NBA finals, NHL Stanley Cup finals or the World Series. With a growing fanbase that rivals any professional sport on earth, it is no wonder that cultural icons and savvy investors, like basketball legend Michael Jordan, rapper Drake and Dallas Cowboys owner Jerry Jones, all own at least partial stakes in e-sports teams.
The invention of livestreaming platforms, like Twitch and Youtube Gaming, has allowed gamers to gain a fanbase, interact with one another and monetize their gaming skills by streaming their in-game play to subscribers all over the world. The streaming industry has seen a recent boom in popularity, with the top four platforms (Twitch, Youtube Gaming, Mixer and Facebook Gaming) garnering a combined 13 billion hours watched in 2019. This increase in popularity has led to breakout successes in the industry, like Tyler “Ninja” Blevins, who have been able to make upwards of $10 million a year just through the fans and endorsement deals that come with running a popular streaming profile.
The gaming industry has seen significant growth and is now considered to be one of the most innovative industries. The gaming industry is successful because it is immersive and entertaining, but also inclusive and expansive. There is a game for almost every human, making it one of the most beloved industries in the world.
Gaming Equipment + Technology
Console Gaming
In the early days, Nintendo and Sega dominated the market for consoles, but today Xbox and Playstation have become the two most popular consoles. Consoles have been a good indicator of the tech market as a whole. In the beginning, consoles were simple joysticks with just enough technology to run simple games like Pong. The new Xbox Series X is a perfect example of how far gaming consoles have come in recent years; with its specially designed microchips that process images and power very efficiently, it has been designed to work perfectly with 8K television screens. With this in mind, it is evident that gaming consoles are revolutionizing consumer entertainment technology.
PC Gaming
Over the past few years, PCs have become increasingly popular for gaming, with more than 1.2 billion people using them as their tool of choice. Bulked-up computers that can handle graphically demanding games are becoming increasingly popular. Not only do they make it easier for streamers who need a reliable system to manage gaming at a high level, but they also enable them to livestream their gameplay. With games like Fortnite, League of Legends and Minecraft being some of the most popular forms of entertainment in the world today, it is no wonder that this is the case.
Quantum computers are much more powerful than current computers, and they have the potential to change the gaming industry as we know it. Quantum computers have more power and information storage than any other type of computer. This allows them to create amazing graphics in real time. They can also fix a big problem in the gaming industry: predictability. Does anyone want to play a game where they know exactly what happens? A quantum computer’s massive storage of algorithms could actually make gaming unpredictable and unique for each gamer.
Cloud Gaming
Cloud gaming is a type of video game technology that allows users to play games through a remote server, similar to how Netflix works. Cloud-based gaming platforms are revolutionizing the gaming industry by making it easier than ever to play your favorite games from anywhere at any time. Phil Spencer, head of gaming at Microsoft, stated that Xbox is more focused on competing with the ultra-fast cloud platforms being built by Google and Amazon rather than competition from Nintendo or Playstation.
VR/AR Gaming
VR and AR technology create computer-generated environments that give users the feeling that they are part of the game, rather than playing from a third person point-of-view. VR provides gamers with the ability to immerse themselves in fantastical environments and partake in a variety of activities, from playing soccer to defending against hordes of monsters (as seen in the video above).
Augmented reality is a technology that superimposes a computer-generated image on a user's view of the real world, thus providing a composite view.
It is evident that technology is changing the way we play video games, whether those games are augmented or virtual.
Mobile Gaming
Mobile gaming comprises approximately 45% of the total market share for the gaming industry, and almost one-third of the global population has played a gaming app at some point in 2019. What makes mobile gaming so popular? Mobile gaming is a convenient way to play games, as it can be done anywhere and does not require additional equipment. The mobile gaming industry is expected to grow as investments in mobile gaming startups have increased, and creativity provides opportunities for more gamers to enjoy different types of games.
