Online Gaming: The Unknown Business Opportunity

Video games are there for decades now. But with the change in technology and easy access to the internet, the online gaming industry just gets a fresh makeover. Nowadays online games not only offer entertainment but also it is used for educational purposes. The age-old video games turned into online games. The games are packed with virtual reality which to some extend remove the line between reality and fantasy. Also, the online gaming industry is going exponentially in some countries.

As time is passing, the gaming industry is adopting new changes that are changing the overall experience of gaming. Starting from the old video games to new online games the industry has shown unbelievable technical growth in a very short span of time.

3D Graphics:

We, the ‘90s kids were very much obsessed with our old video games which are basically black and white in 2D animation. But as the technology improved, the 2D is replaced with real-time 3D graphics with crystal clear details in graphics.

The innovation of 3D graphics makes it more realistic. The details of that graphic design make the objects more realistic and believable. The textures of the game graphics are now turned into the real scenario. The transmission between the scenes, the appearances of the real-life characters, special effects are managed in perfect manners. So the players will feel themselves in the games.

Connected With People:

The online games come with those features where you can create your own community and connect with the people of the same community. You can talk with them also share the experience. Some games offer to play the games together. In some games, you have to join as a group to conquer the mission. Even on some platforms, they create a community of the same gaming standard people. The internet gives friends to play the game together whether they are at the same place or not. Sometimes people find new friends while playing. So online game opens up the way to connect with people of the same mindset.

Smart Phone and Gaming Apps:

As smartphones come into the market the whole situation of online games has been changed. In other words, smartphones are the key to the growth of online games. Before you have to have the computer to play online games or the screen and the console. Now just image, a small device which fits into your hand and pocket, and gives you the freedom to play online games, where you are whenever you want.

Not every game is for serious games. A lot of mobile app games are introduced for casual gamers also. Those are the games that give you relief after a long working day. You feel relaxed while playing them. Some are like a stress buster. There are a lot of games which you can play while in traffic or transit. While mobile gives you the freedom to enjoy those advantages of online games.

Now, if you look at that mobile games, you will find a wide long-range of games for people of every age and every choice. Starting from the games like cards and caroms, story mode games, or some fighting games you will get everything and a lot of variety now. And moreover, these games are comparatively easy, so that everyone can play them.

Virtual Reality Console:

The online gaming industry has adopted virtual reality very easily. Now with the virtual reality console, the games not only play that games also feel the games.

One of the key parts of these VR gaming consoles that, the games can very easily connect with the games. They feel themselves as a part of that game so that they can easily adjust to that game. Moreover, the high-speed internet gives the chance to enjoy online games with VR consoles. Overall the new technology is just removing the barriers between reality and games.

Cloud Gaming:

A part of online gaming is cloud gaming. This cloud gaming gives you the scope to play games without wasting space on your computer or gaming console. In addition to that, it gives everyone an equal opportunity to play a game from anywhere without using cloud space. Most of the high graphics games required a lot of storage for installing and playing. But if you use cloud space, it doesn’t require your computer or console space. So it gives everyone the opportunity to play the games.

Safer Payment Gateways:

The gaming development companies are using secure gateways for the payment method. The main money flows in online casino games. Most of the casinos now moved online. So the frauds were targeting that. But with the technological advancement, we have almost secured the payments.

Nowadays the online games are using blockchain technology to secure payment. Some famous game makers are also using cryptocurrency and crypto wallets as a payment procedure. So the identity of that person is not going to come out in any cases. This safety and security are also the factors to bring people online. Especially the casinos are moving to online so that they can connect with more no of peoples.

Users as Developer:

Online games also give the players the opportunity to add their choice and customizations. The new-age players are not only players they are also the developers. They can add or remove features and real-life locations. Some games give them the opportunity to add features such as customize their game labels and later share them on the internet. The beta version of any mobile game gives you the opportunity to use the new features. The game developer is also adding features so that the games become more user-friendly.

Online Gaming as Business:

Do you have any idea about how large the online games market is? It is bigger than the movie and music industry taking together. But the problem is it’s not in the limelight as them. But this industry is going in leaps and bounds. You will find over 2 billion people who play any of the games. This is nearly 26% of the total world’s population. So you can easily judge the market.

And it’s not surprising that the leading tech giants are trying to get into this market. Company likes Google, Facebook, Apple are started fighting for their place in this industry. On the other hand, existing companies like Microsoft (makers of Xbox consoles) are trying to upgrade their technologies. They launched their Project xCloud which will allow gamers to play their Xbox games on PCs.

Just to give you an idea about the market potential, the analysts predict a huge $196 Billion revenue will be generated from this gaming industry by only 2022. Also, online streaming platforms like YouTube and Twitch are some of the key sources for gamers along with the competition price money.

Indian Gaming Industry:

The Indian gaming industry is one of the top five gaming industries in the World. It holds around 13% of the overall marketing share. Not only that according to Deloitte India reports, but it can also add more than 40 million online gamers by 2022. It also says the industry is growing at a compound rate of 40% annually. By 2022, the online games market size becomes around $2.8 billion in India according to Deloitte India.

More than 50% of the Indian population is under 25 years. At the same time, 60% of gamers are also under 25 years of age. Also, India is the country with World’s 2nd largest internet user base.  And as the internet speed increases the online games industry also increasing. No wonder the global gaming companies are eyeing the Indian market. The government is also considering the online games industry as a big part of our economy. Just a fun fact, before the famous game PUBG got banned in India, almost 34 million Indians are playing it daily.

The covid-19 pandemic and the long lockdown period in India works as a booster for this gaming industry. They have moved a lot of TV audiences to gaming audiences and gamers. It’s the time when Indian YouTube game streamers are gaining a lot of subscribers and online views. As a result, more people are talking about this industry seriously.

As a bottom line, it can easily be said that the online games industry is very energetic and enthusiastic when it comes to new technologies and advancements. The online gaming industry is now focusing on smartphones. More large companies are coming into the market. As a result, the gamers are getting more options to choose from. In a single word, the online games industry is like an iceberg of the economy.