PC and console games have been growing considerably over a period of time. In less than a decade, online gaming has exploded, massively expanding,and is expected to reach a revenue close to $ 200 billion US dollars by the year 2022. It is one of the most lucrative and fastest growing industries in the world.
Video games have reportedly been around since the 1950s, but the first commercial product that was described as a gaming console was released almost 2 decades later, in the 1970s. The internet played an important role in the proliferation of the gaming sector with the rise of online games, and has been gaining popularity ever since. Today, online gaming companies like Betaway have popularized the e-sports sector completely.
2003: Steam, a digital storefront, was launched so that gamers from all over the world could buy, play and review games online.
2004: World of Warcraft, the first massively multiplayer online game (also known as MMOG or simply MMOs) was launched, quickly gaining over 10 million active subscribers worldwide.
2007: The world of mobile online gaming slowly takes shape.
2009: Minecraft was released, instantly making it one of the best selling video games of all time, with sales exceeding 176 million copies.
2015: The world officially has 1.5 billion online gamers registered across various platforms.
2016: A game based on Augmented Reality, Pokemon Go, was launched, making it the biggest revenue generating game on the mobile platform in its first month of launch.
2019: Google Stadia, a cloud gaming service is launched, which allows gamers to play any game without a console; the only requirement being a solid internet connection.
Several technological innovations have played a very important role in the evolution of online gaming. However, there are several other factors that cannot be overlooked. For example, online streaming services, hardware and software developers, distribution and sale of games, gaming arenas, e-sports and game publishers are all instrumental in the rise of online gaming and massively multiplayer online games.
The online gaming market has adjusted well to the surge in mobile gaming. In 2019 the mobile gaming sector amassed almost 45 percent of the revenue of online gaming. With the rise of 5G, mobile games, especially internet speed dependent MMORPG games like Era of Legends, Adventure Quest 3D, Black Desert Mobile, Growstone Online, Arcane Legends among others are getting more and more attention.
The future of gaming seems to be online, with smartphones as the leading choice for game developers to make money. Virtual Reality has already been incorporated into games for a more immersive gaming experience, with Occulus and Valve leading the way. The prices of VR headsets have also dropped significantly, making it easily accessible to a lot more people.