Online gaming industry thriving in 2021
Over the last couple of years, the online gaming industry has consistently been growing. In 2020, the global online gaming market generated around $21.1 billion U.S. dollars in revenue, 21.9 percent growth compared to 2019. With China, Japan, and South Korea having the biggest gaming reach, the online gaming audiences are projected to surpass 1.3 billion in 2025.
It’s anticipated that the global online gaming market will grow at a CAGR of 11,9 during the forecast period. And out of all digital trends over the last few years, the online gaming sphere is at the forefront due to an array of factors like easy access to online games and increasing interest in playing games.
Generally, the online gaming market is segmented based on three types:
- Game type
- Device type
- Revenue model
Undoubtedly, in terms of the gaming industry, the Americas had their most successful year of growth, especially in the online gambling market. In 2020, it was valued at USD 1,78,57 million, and it is projected that the US online gambling industry will grow at a CAGR of 17,32% during the forecast period, 2021-2026.
Finally, some of the best casino sites for US players can be found via bestcasinosites.net. Here, you can see all the necessary information about rules, laws, and regulations about online gambling in the US.
The most popular trends and innovations in online gaming industry for 2021
It can be said with certainty that technology has a big influence on our everyday life. Technology is constantly growing, and every year comes with new opportunities that make things easier and faster. With the increased interest in online gaming, some new trends and innovations are emerging in 2021.
One trend that we can expect to see in 2021 is the exponential growth of mobile gaming. As more and more people want to play games online on their mobile devices, more developers will develop games that fit this gameplay style.
Additionally, with the smartphone screens getting bigger and bigger, playing a video game on the phone will feel a lot like it does on the desktop.
Gaming as a service, a.k.a cloud gaming, will most likely revolutionize the online gaming industry. With cloud gaming, players will only need high-speed internet to enjoy playing. This type of gaming will eliminate the need for expensive gaming hardware, and people who wish to do online gaming as a career or just for fun are very excited about this.
Finally, eSports are slowly but surely making a name in the online gaming industry. It is expected that they will become more popular and will dominate the online gaming industry in the near future.
Changes we can expect in the online gambling industry in 2021
The increasing penetration of the internet across the globe, along with the rapid urbanization, is one of the main factors that led to the growth of the online gambling market in 2021. Additionally, the legalization and approval of online casinos in various developed countries have also significantly impacted market growth.
As online casinos take the world by storm, the competition between operators is becoming higher by the minute. With that being said, it’s expected to see bigger and better deals from operators, as well as upgraded designs and new games.
The next trend that we can expect in 2021 is more and more crypto payments. The good news for all blockchain users is that many casino sites nowadays offer welcome bonuses to those who use crypto payments.
Additionally, the blockchain system will resolve trust issues between online casinos and players because they will restore all records, meaning that players will be able to access their transaction history whenever they want to.
Mobile gaming statistics and predictions for 2021
It can be said with certainty that the mobile game market is booming. And as more and more people are using mobile devices to play games due to the convenience, simplicity, and fun it offers, it’s not surprising that mobile games break records and make billions in revenue.
In 2020, there were 80 billion mobile game downloads with an 18% YoY growth, and players spent $100 billion in mobile games. It is projected that the user penetration will be 25.9% in 2021, and if all goes as planned, it will hit 28.5% by 2025.
Additionally, most revenue will be generated in China in 2021, and it’s projected that by 2025, player spend will reach $138 billion, and 58% of the App store’s revenue will come from non-gaming apps.
Story by Phil Vamius