Online Gaming: The Rise of a Multi-Billion Dollar Industry

Games have been a fundamental part of human life for a long time. From the primeval board games to virtual reality, the way gamers play games has changed. Nowadays, people can play with each other on an online casino in the comfort of their homes. In the last two decades, online gaming has become very popular, making it one of the most profitable industries in the world right now. 

The Rise of Online Gaming

Online gaming may have started in the 1970s, but it took some time to enter the mainstream. In the 1990s, the availability of the internet boosted the spread of online gaming. As its popularity continued to soar, in 2003, Steam, a digital storefront, was launched. Gamers were allowed to buy and review games online. 

In 2004, the concept of multiplayer online (MMO) games was the trend. The first release of World of Warcraft in 2004 was very successful as it became the first MMO game to go beyond the 10 million active subscribers. Later, in 2009, Minecraft was launched and became one of the bestselling video games after selling 176 million copies. 

In 2007, online gaming started shifting towards mobile devices. The advent of mobile gaming saw the number of gamers around the world rise to 1.5 billion. By 2016, technological innovations such as Augmented Reality made their way into the gaming world. Pokemon Go, an Augmented Reality game, was launched in 2016 and generated the most revenue grossed by any mobile game within the first 30 days of its launch. 

Later in 2019, Google launched Stadia, a cloud gaming service that lets gamers enjoy their favorite games without a console. Online gaming continues to be an unstoppable force in the world of entertainment. Many factors fuel its success. 

Components of Online Gaming

Many people usually confuse the term “Esports” and “online gaming.” However, contrary to what many people do, you cannot use the words interchangeably. 

Online gaming entails the action of playing video games, whereas Esports is a short form of Electronic Sports that pertains to professional or competitive gaming. Esports is one of the segments that sits within the gigantic online gaming ecosystem.

The Online Gaming Ecosystem

The online gaming ecosystem comprises game developers, game publishers, software developers, Esports, and gaming arenas. It also includes hardware developers, streaming services and distributors, and retailers. You can play the games in three main categories: PC gaming, console gaming, and Mobile gaming. Mobile gaming is the leading online gaming, with about 45% of online gamers using it to play. 

The Future of Online Gaming

The 5G network is believed to be a game-changer in the world of online gaming. As the network spreads worldwide, the mobile gaming industry will be transformed. Therefore, the future of online gaming relies on mobile gaming. 

Furthermore, technological innovations will be the key drivers of the future of online gaming. Technologies such as Virtual Reality, Cloud Gaming, Real-time Personalization, and Artificial Intelligence will be the key drivers of the future online games. 

As the world population becomes accustomed to living in “social distance,” the online gaming industry will be at the forefront of keeping people connected.