The eGaming industry has come a long way since its inception in the early 1990s. What started out as a small community of enthusiasts playing simple games on their PCs has grown into a massive global market, with revenues estimated to reach $128 billion by 2022.
This growth can be attributed to several factors, including the advent of new technologies such as virtual reality (VR) and esports, which have breathed new life into the industry and attracted a new generation of gamers.
The future looks bright for the eGaming industry, with even more exciting developments on the horizon. Here are some of the trends to watch for in 2022:
- VR will become more popular
The 2018 Games Developers Conference (GDC) revealed that VR is slowly but surely on the rise. While its popularity was on the decline in 2016, it has since stabilized and is expected to gradually increase through 2021. By 2022, the VR market could be worth $22.4 billion.
- More game developers will transition to VR
As VR becomes more popular, more game developers will start to create games specifically for the platform. This will result in a better gaming experience for VR users, who will have access to a wider range of games.
- Esports will continue to grow in popularity
Esports is one of the most rapidly growing segments of the eGaming industry and is only expected to get bigger. The esports market is already worth $1.5 billion and could increase by another $3.2 billion in 2022.
- Game streaming services will become more popular
Game streaming services are an expanding area of the eSports industry that allows players to stream their games live on various platforms. These services are generally free, but users can pay for features such as higher video quality. Some companies offer paid subscriptions for special perks such as custom emojis, custom chat rooms, and access to exclusive chats with the streamer.
- Blockchain will play a bigger role in eGaming
Blockchain technology is likely to become an integral part of the eGaming industry in 2022. It has the potential to improve transparency and security in the gaming world, as well as reduce fraud and cheating. Some platforms have already adopted crypto payments that are a logical follow-up of the blockchain technology. And 2022 is expected to be the year of the massive implementation of cryptocurrency transactions and blockchain-based products in eGaming.
- Streaming services will compete with traditional console gaming
The popularity of game-streaming services is likely to take a bite out of the traditional console gaming market. Streaming services offer users a more affordable and convenient way to play games, and they don’t require any expensive hardware. This could spell trouble for traditional console gaming companies such as Sony and Microsoft.
- Augmented reality will become more popular
Augmented reality (AR) is a technology that overlays digital content on top of the real world. It has the potential to shake up the eGaming industry. While AR gaming has yet to take off, it could become a dominant platform by 2022.
- PC gaming will continue to thrive
While the console market is expected to see some decline by 2022, PC gaming is projected to remain strong. There are many different factors behind this trend, including the continued popularity of PC gaming among developers, the rise of eSports, and the growth of game-streaming services.
- Mobile gaming will continue to grow
Mobile gaming is currently one of the fastest-growing segments of the eGaming industry. In 2017, it accounted for 43% of all global gaming revenue and this is expected to increase to 52% by 2022. This is largely due to the increasing popularity of smartphones and tablets, as well as the increasing number of mobile-specific games.
- China will continue to be a major player in the eGaming industry
China is currently the largest market for eGaming, accounting for almost half of all global revenue. This is largely due to a strong mobile gaming market in the country. Mobile games earn around 75% of total revenue, while PC and console games account for a little over a quarter between them.
The Chinese eGaming industry is projected to grow by more than $13 billion by 2022, making it one of the fastest-growing segments of the global eGaming market.
Conclusion
The eGaming industry is rapidly evolving and is expected to reach a value of $128 billion by 2022. The trends reviewed are set to shape the industry in the coming years and define where money will go, and which sectors demand the increasing attention along with investments. Fortunately, the evolution eGaming is to go further than VR gaming, the rise of esports, the growing popularity of game-streaming services, and the continued dominance of PC gaming. With developing mobile technologies and Blockchain implementation to make online gaming more anonymous and secure, the industry will witness broader perspectives.
Recent developments of the eGaming market have been very interesting to monitor and 2022 is promised to be an exciting time to enjoy online gaming with many opportunities ahead. What else should we expect? Feel free to share your insights below.
About Me – I am an experienced content creator, a writer based in Pittsburgh, PA, United States of America. I am inspired by the people I communicate with. I love my job and constantly develop my skills. New challenges are moving me forward.
