BCM215: Technological Forecasting of Online Gaming (Blog Post 3)

Technological Forecasting of Online Gaming

Gaming media has been in existence for many years since the adoption of simple games to digital games by gaming corporations. A lot of the big steps that gaming organizations have achieved in making can directly be attributed to increased development in digital technologies, communication and internet connectivity. It is estimated that the gaming industry is set to grow and develop very much into the year 2030 and moving forward (Mordor Intelligence). This is directly attributed to an annual consistent growth of 17.5% in the current market index survey. A lot of the percentage increase facilitating the annual growth is driven by demand of new gaming products and new entrant interests in the gaming platform.

In many countries gaming activities have become a daily source of entertainment and fun center for many people. This is especially experienced in the United States, Europe, China and Japan.  According to the United States based firm Verizon the gaming interest and usage index grew by 75% during the Covid-19 pandemic lockdowns (Mordor Intelligence) (Absolute Markets Insights). It is also estimate that the average time that gamers have been using lately on online gaming activities has increased by 11%. This shows how influential gaming activities have become in the lives of many people with access and interest in them. The availability of good internet and fiber connectivity has also increased the capacity and flow of gaming services across the world.

Free downloadable games have become a very important approach in bringing in new and current gamer interests in to the gaming organizations. Warzone online games have free versions that can easily be downloaded and played in any personal computer or laptop. A lot of gaming organizations have used this path way in increasing their customer base and market share (Absolute Markets Insights). In this case scenario gamers are able to download limited versions of the game and in order to progress forward they need to make various purchases. In contrast these purchases increase the revenue threshold of the game provider. It is a way of handing out and enticing gamers an almost free way into the gaming platform of these organizations.

One of the best personal medium that has propelled gaming platforms to higher heights and profitability across various markets is a smartphone device. These devices have greatly influenced how people interact with gaming platforms. They have made it easier for people to have an easier access to gaming platforms and products. Also to the gaming organizations they have increased their revenues through advertisements in their games on smartphones. The adoption of smartphone devices and development of new gaming software to fit these devices will contribute towards the growth of the gaming industry moving into the future (Mordor Intelligence). Organizations such as Niantic have been continuously working and releasing gaming software in the market for various smartphone devices. Through such activities t is estimated that within the next eight to ten years the gaming industry will have grown and developed greatly. It is clear that without increased advancements in digital technological innovations the gaming industry would not have gained the current influence that it enjoys.

References

Absolute Markets Insights. “Global Online Gaming Market is estimated to grow at a CAGR of 17.5% over the Forecast Period, Owing to Upsurge in Immersive and Competitive Gaming on Mobile Devices, says Absolute Markets Insights.” Cision: PR News Wire. 17th April 2020.

https://www.prnewswire.com/news-releases/global-online-gaming-market-is-estimated-to-grow-at-a-cagr-of-17-5-over-the-forecast-period-owing-to-upsurge-in-immersive-and-competitive-gaming-on-mobile-devices-says-absolute-markets-insights-301042715.html

Mordor Intelligence. “Gaming Market – Growth, Trends, Covid-19 Impact, And Forecasts (2021 – 2026).”

https://www.mordorintelligence.com/industry-reports/global-games-market

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