If you’re interested in how big the online gaming industry is, read on. According to recent studies, Asia is the leading region for online gamers, with 1.48 billion players. However, a more comprehensive study showed that gamers in Europe and North America comprise twenty-five percent of the global total. Even though Europe and North America are relatively small countries in terms of number of gamers, they still contribute a substantial amount to the industry.
According to Accenture, the global gaming industry is expected to grow by a factor of more than 300 billion by 2025. That’s more than the combined markets for movies and music. This growth is driven by the affordable internet access that is available to everyone. It’s also growing in popularity among young and old alike. In addition to the gaming industry, the video game streaming industry is a growing revenue sector. The growing popularity of gaming is an excellent opportunity for gamers to earn money and make friends while playing their favorite games. I’ll recommend you Slot Online.
The industry is booming. The iPhone revolutionized the way people played games. Apple’s iPhone introduced the App Store, which made gaming available to the masses. The mobile gaming market is now worth $85 billion, and this number is expected to rise in the coming years. Meanwhile, the cloud gaming industry is expanding. Console makers are launching cloud-based subscription services. And even Amazon and Google are entering the online gaming space with their own game services.
As the digital distribution of video games has become more convenient, big publishers are benefiting. These companies no longer have to deal with shipping, manufacturing, and wholesale. Instead, they can post games online and reach millions of consumers. According to the Newzoo report, two billion people played video games worldwide in 2020, which translates to a 5.6% growth per year. By 2021, this market will be worth $189 billion.
Among the regions, Europe dominated the global online gambling market in 2019. This is largely due to the legalization of gambling in Spain, Malta, and Italy. The market is also fueled by high internet penetration and the growing use of mobile phones. Increasing awareness of the latest technologies and growing disposable income are also contributing factors. While Europe may be the largest market for online gaming, other regions such as North America and the United Kingdom are the fastest growing.
However, the COVID-19 pandemic has affected several core industries. As a result, this is a good thing for the online gaming industry as it is expected to increase overall demand.
Lockdowns and censorships in some countries have caused a significant increase in the number of online gamers. Moreover, online game sales are currently breaking records. This trend is likely to continue until the COVID-19 crisis subsides.
As an example, the Animal Crossing franchise sold 1.8 million copies in Japan in March, indicating that consumers are spending a large amount of money on game content. During the launch and lockdown period, the number of purchases was even higher. According to Persistence Market Research, the rise in online game sales has to do with the coronavirus outbreak. In addition to the growth of the industry, the overall viewership of online games has increased significantly over the last few months.