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The gaming industry is bigger than you think

Over the past 20 years video gaming has changed from a basement hobby to a well-respected industry that encompasses a rich culture driven by passion spanning a wide demographic. All that said in numbers, the video gaming market is expected to be worth about 89 billion U.S. dollars by 2019 (Statista, 2018). Expansion of the digital population including the hyper-use of mobile devices and the growth of e-sports contributes to the gaming business blasting off in full force.

What’s contributing to the gaming industry’s growth?

Gaming is taking on a new form as a service rather than the distribution of physical discs. This means less distribution costs involved for companies and more profit, according to The Motley Fool.

Another way in which gaming is booming is through e-sports. Business Insider explains that major players like YouTube are adding value to the industry encouraging the emergence of more stakeholders and events. As those aspects grow, the demand in the industry grows through broadcasting and event production. And thus, advertising within this space becomes essential, directly benefiting businesses that want to target this demographic.

What does this mean for the end user?

Advancement in technology both in hardware and software will make gaming more accessible, immersive and customizable. Mental Floss predicts facial and vocal recognition will be some of the few ways in which we see growth.

At what point did your interest in gaming peak? Were you an original gamer, who’s interest was born a basement? Leave it in the comment section down below.

 

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