The gaming industry has evolved so far since the 1940s. It is a sector that monetizes in the development, marketing and monetization of video games. It all started from the game console that we all know and love, arcade games.
Ever since arcade games were released, there was a lot of companies hat kept on innovating their product. They capitalized on the evolvement of our devices as well, such as laptops and smartphones. Their significance growth, however, was started since the iPhone was introduced in 2007. Since then, to date, an esxtra revenue of 100 million dollars has been added to the gaming market, which resulted in a total of 137,9 billion USD globally.
Top Market by Game Revenues
China won the number one place on the list with an internet population of 850 million. The total revenue from the gaming industry earned by China reached 34,400 million dollars. The united states come second with total revenue earned is 31, 535 million dollars. The third place is followed by Japan which occupies 121 million population on the internet. The revenue from gaming is 17,715 million USD. The south republic of Korea followed next with a population of internet user as much as 48 million and game revenue as much as 5,764 million USD.
It is possible to grow and increase the gaming industry in these countries, as more and more people are inclined towards the internet as their mainstay for entertainment and communication. The key is constant attraction and engagement of the internet population for mobile games.
Mobile games are also considered one the largest segment which is responsible for claiming more than half of the game revenues on a global basis. Tablets and smartphone, when combined together, generates 70,3 billion USD which accounts for 51 percent of the market globally. As much as 2,2 billion gamers fall into this segment. Console games have the second largest space and it earned a total revenue of 34,6 billion USD last year. This is expected to reach 39 billion USD in 2021. The third one is games for PC which accumulated 32,9 billion USD in 2018, however, this section is declining slowly.
For avid gamers, they have spent on average 23 minutes per day, 2,7 hours per week, 5,8 days per year and 1,3 years per lifetime.
Virtual Reality vs Augmented Reality
VR and AR games are starting to dominate the game market. The main difference between both of them is VR adds digital elements to a live view often by using the camera on the smartphone. VR meanwhile implies a complete immersion of experience that shuts out the physical world. Using VR devices such as HTC Vive, Oculus Rift, or Google Cardboard, users are transported into a number of real worlds and imagined environments.
It is predicted in 2020 that AR/VR sales would reach 22,9 billion US dollars. The research forecast that this increment is due to the fact that can be used in other enterprises. Underneath are the list of augmented reality and virtual reality trends:
This was the main function that VR was developed for. The exciting potential lies in the way the immersion of the medium, paired with more accessible controllers could make gaming more exciting than before. Google cardboard, which is not available in South Africa yet would make it easy to jump VR gaming from your android smartphone with a simple cardboard viewer.
- Consumers Entertainment
VR adoption homes have been steady since consumer headsets hit the market a couple of years ago. But, the hardware and application developers haven’t quite hit the sweet spot yet.
Some significant changes are coming up in the next recent years. Previous generations of VR headsets have been limited in two ways; The user has to be tethered to a big, expensive computer to experience the VR or by relying on relatively low-powered mobile tech.
This year, stand-alone headsets are incorporating powerful dedicated computer that will hit the market, from Viva and Oculus that would solve the previous VR problems.
- Virtual tourism and extreme experiences
One of the most exciting possibilities for VR is offering the ability for everyone into experiences and environment that might be too far, too dangerous or too expensive to be done in real life. This function has started taking off, with a handful park around the world offering VR rides, and google expedition which will offer field trips to hundreds of natural and historical landmarks around the world.
- Training and Teaching
Virtual environments will allow students to practice anything from construction to flight to surgery without the risk of associating it with real-world training. While augmented environments mean that information can be passed to the students in real-time on objectives, hazards or best practices.
This year Walmart has announced that it is using 17,000 Oculus Go Headsets to train its employee in skills ranging from compliance to customer service. Additionally, the united states army has announced a deal with Microsoft to use its hololens technology in military training, meaning that soldier will get real-time readings on their environment. This includes readouts to provide real-time metrics on soldier performance such as data about heart and breathing rates.
Fully (level 5) autonomous cars may still be a few years away from us but car manufacturers keep on making innovative products that are designed to blow our mind away. Two most significant trends that they are picking up are: voice assistants and Augmented Reality.
Powered by machine learning, Nvidia’s Drive AR platform uses a dashboard-mounted display overlaying graphics on camera footage from around the car, pointing out everything hazards to historic landmarks along the way.
Audi, Mercedes-Benz, Tesla, Toyota, and Volvo have all signed up to work with the technology.
Alibaba start-up WayRay has taken the route of projecting the AR data directly onto the car’s windshield, giving navigation prompts, instant information, lane identification, and hazard detection.
In-car AR has the potential to improve driver’s safety, by allowing them to keep their eyes on the road as they read the feedback that previously would have been given on a navigation screen or phone screen.