During the pandemic, the world refound its love for video games. It has ignited a period of exceptional growth for the sector. As per statista reports, the gaming industry generated $155 billion in 2020 and by 2025, the industry will generate more than $260 billion revenue. Many tech companies are looking to get involved in this revenue stream. Big tech giants such as Google (GOOGL), Meta (META), formerly Facebook, and Apple (AAPL), have already made plans to enter the video game industry. Both Microsoft and Sony recently made over $45 billion in 2020 from the gaming and the console sector alone.
When nuclear physicist William Higinbotham created The Tennis for Two — widely regarded as the first video game, he was just seeking attention. But he didn’t realize that he had started a butterfly effect that would provide a lifeline for millions during a global pandemic 63 years later. Video games have evolved significantly from the early days of computer games and the first versions of Nintendo and Atari. While some lockdown trends such as TikTok dancing reels or Zoom workout classes exclude certain corners of society, the gaming sector welcomed just about everyone. It provided entertainment for children and adults alike. It’s no surprise that the days of pixelated screens and limited sounds are a distant memory as video games have become more lifelike than ever. As technology keeps on improving everyday, so do video games.
Golden Age of Gaming
Gaming has never been this varied, high quality, accessible and affordable. This sector has become such a valuable lifeline for people over the last year. When the pandemic forced the world to stay inside, people were looking for ways to both entertain themselves and maintain their social connections. There are times when gaming has been painted with the wrong brush — stereotyped as being isolating and unsociable. However, the pandemic has proved that this could not be further from the truth. We can clearly see a mainstream adoption and recognition of this hobby during challenging times.
As per G2A data reports, there was a 200% increase in the number of people aged over 60 who searched for games on their platform and 93% of people under-18 admitted to gaming regularly. As per the latest study by Stream labs and Stream Hatchet, Twitch — the world’s leading livestreaming platform for gamers, witnessed an 83% year-on-year uprise in viewership when the pandemic hit, with over 5 billion hours of content viewed in the second quarter of 2020 alone. As esports already growing as a spectator sport, the gaming is no longer exclusive to those with a controller in hand.
Video Games and Social Connectedness
Nowadays people are using video game platforms similar to social media websites. People are using it to communicate, strategize and forge relationships in a meaningful way. Some people develop lifelong friendships from video gaming platforms. On a daily basis Twitch gets 15 million users, and Discord sees over 140 million monthly users.
Almost half of the teachers in the U.K. and the U.S. are trying to engage their students through gaming during periods of virtual learning. Traditional stigmas suggest that gaming represents a hurdle to education, but in reality, games are designed to facilitate learning. Popular video games have already started to weave into educational modes and help players learn about the worlds in which they are set. For example, Assassin’s Creed Origins has a Discovery Mode for gamers where they can explore Egypt under the reign of Cleopatra.
Building a Bright Future
We are moving in the direction of increased interaction with the digital world. AR and VR are constantly improving. Due to which the leap from gaming application to real-life application is going to be seen more frequently in the coming years.
Already there’s a lot of excitement within the gaming community about blockchain technology. Gamers first beta-tested digital currency, and now they’re testing the possibilities of blockchain. Gaming is at the forefront of expansion. Many companies are watching for the latest computer science research, looking for ways to make their games faster, more realistic, and more fun. DigiMantra Labs has started to integrate more local gaming apps that resonate better and are popular among users. Our team has concentrated its efforts in working with developers to bring the most relevant gaming apps to users, and delivering more choices to consumers around the world.