10 top online gaming predictions for 2023
While some online markets are having a hard time dealing with the recession, the gaming industry is thriving, aided by the boost given by the pandemic, when people were forced to stay at home. To give you some sense of where this niche is heading, he compiled the hottest rising trends in the gaming industry.
1. Gaming is becoming more social
Social gaming is the most rapidly growing segment of the gaming industry, which makes sense given the fact that people love to share their experiences with others.
The most popular games in this segment are those that can be played on multiple platforms and involve a team. Some of the current favorites in this segment include Farmville, Mafia Wars, and Wordfeud.
2. The global mobile games market will be worth $84Bn by 2023
The smartphone has become a powerful tool for mobile gaming developers, giving them the freedom to create games that appeal to the masses. The market is predicted to reach $116B at the end of 2023, up from an estimated $4,6B in 2013.
3. 5G networks will improve everything
The new generation of wireless broadband technology became available in 2019, with the first 5G networks being deployed by 2020. This means that gamers have top-of-the-line speeds at their disposal, making it possible to stream high-definition content with ease.
4. Online gambling is a huge market and it’s only getting bigger
Online gambling is one of the fastest-growing segments of the global gaming industry, with annual revenue figures exceeding $150B by 2022. The interesting part is that online gambling has been legal since 2001 and is still growing steadily. The main reason behind this growth is the increased accessibility, thanks to technological advances such as mobile and online gaming, especially cryptocurrency casinos like free bitcoin slots.
5. Consumers are more willing to pay for online gaming content
As more and more players become tired of playing free games and want to try something new, paid gaming has become more common than ever before. This trend will continue to grow during the next two years, while virtual currencies will remain an integral part of online gaming.
6. Video games are becoming bigger than box office numbers
As people realize that one can make much more money from creating video games than by starring in movies, the demand for such titles will increase dramatically. On top of that, video games are much easier to create, which means that more young people are willing to give them a shot than ever before.
7. Virtual and augmented reality are set to take off in a big way
The virtual reality market will be worth $21.1B by 2023, up from $1B in 2013, while the augmented reality market is expected to generate $4.3B by the end of the same year. This is mostly thanks to the fact that the technology needed to create VR and AR games is becoming cheaper and more accessible all the time.
8. Casual gaming will continue to dominate the industry
While hardcore gamers have never been a fan of casual gaming, their numbers are dwindling as more and more people are jumping on the bandwagon. The most popular casual gaming apps are not exactly revolutionary, with Bejeweled 2, Angry Birds, and Fruit Ninja topping the charts.
9. Web-based gaming will continue its steady growth
One of the fastest-growing segments of the online gaming industry is web-based gaming, which will grow from $26B in 2018 to $80B in 2023. This also means that more and more developers will try to get a piece of this pie, with new games being added regularly.
10. Gaming revenues will keep increasing
As more and more people discover the joys of online gaming, the global gaming industry is expected to generate $137B by 2023, up from $74.4B in 2013. While the overall trend is very positive, some groups are starting to see a decline in revenue figures, such as social casino games and pay-to-play MMOs.
A great investment
It doesn’t matter if you love gaming, or you think this is a waste of time, taking people’s to focus from more important things. Online entertainment is here to stay and is one of the most reliable investments for 2023. We hope our article helped you understand this industry more!
