The Gaming Market In 2020
The online gaming industry is one of the fastest-growing in the world. And this is not an exaggeration, which we will show you through the numbers.
Statistics clearly show that the online gaming sector is constantly growing. Just two years ago, the niche’s revenue was $ 37.91 billion, and now this figure has grown to $ 47.11 billion, which is almost 5 times more than in 2012 (28.22 billion).
And forecasts for the future look very optimistic. It is expected that by 2020 the income in the niche will reach $ 60 billion, and the industry itself is undergoing a series of changes and reforms.
Experts believe that by the end of 2020, the market will grow by 7.9% annually as a result of continuous development in technology and a gradual increase in living standards in the middle class.
We tried to deal with the immediate prospect of online gaming in all major regional markets.
One of the largest and most important regions for the gaming business will very soon legalize online gaming in the country.
Yes, the niche still cannot fully develop due to legal restrictions and is rather grey. But now, supporters of the legalization of online gaming have intensified throughout the country. So very soon the market will again be open to large international companies.
More recently, Pennsylvania has become the fourth state in which online gaming has been legalized. A decree on this was signed by Governor Tom Wolf. The state has joined Delaware, New Jersey, and Nevada.
Gaming operators are already quite rubbing their hands and talking about the positive dynamics in the United States. The same bookmaker William Hill recently announced a 3 per cent increase in performance in the local market.
Among all other regions of the world, the most popular online gaming enjoys among Europeans. And the largest profit growth in the gaming sector is shown by slots about 84% over the past year.
Such a boom can be explained quite simply. The operators realized the huge potential of the European niche of online gaming and are taking full advantage of the region in the form of a lightened tax regime that is established in the gaming “bays” of the continent: Malta, Gibraltar, Isle of Man.
However, individual countries are increasingly resorting to easing the level of taxes on iGaming. This move allowed Spain to increase industry revenues by more than 20%.
An important factor in the current gaming boom in Europe is the constant development in the field of technology. Operators are developing more and more innovative products. And this applies not only to slots or video slots but also to such areas as VR-gaming. There are no problems with new ideas in the industry.
Companies are doing their best to adapt to the demographic requirements of the market. Young players quickly get bored with standard slot machines, so operators try something new: eSports bets, as well as skill-based games. In the latter direction, developers such as Scientific Games, Konami and others succeeded.
The African online gaming market is in its infancy and booming at the same time. At the same time, some several key issues and areas need to be addressed.
According to the KPMG report, the main problem in Africa remains the gaming infrastructure. First of all, this applies to telecommunications, banks, e-commerce, payments and customer verification tools.
And taking into account the fact that in most countries online gaming is not regulated (although it is not prohibited), a lot of time will pass until its potential is fully revealed.
Recently, the results of a Gaming Capital study were published, which found that on average, Australians spend almost $ 1,000 on gaming a year. This is the highest rate in the world.
There is not one such a gaming nation on the entire planet. For example, in Singapore, players lose an average of about $ 650 a year, which is 35% less than Australians.
The total gaming expenses of Australians for 2016 increased by 7.7% and amounted to almost 23 billion dollars. Such figures alerted authorities who decided to ban online poker and tighten gaming advertising in the country.
This situation in the country happened because slots here can be placed not only in special clubs or halls but even in ordinary bars or pubs. So Australians have no problem accessing gaming.
And although the situation looks daunting at the ground level, the government decided to limit the online sector.
By its volume, the Asian gaming market is the largest in the world, which is quite expected, since more than 60% of the total world population lives on the continent.
The demand for gaming in the region is growing steadily. There is also certain mitigation in the field of law, more and more countries are legalizing online gaming, or at least betting. This undoubtedly opens up new perspectives for the industry.
A study by the Research and Markets group predicts that the gaming market in the Asian region will grow by 7.3% over the next 2-3.
What happens next
And in the period until 2020, and in the future, the global gaming industry will survive a full redesign. We can safely say that the next decade, the online gaming sector will only grow, and more and more emphasis will be placed on the mobile direction.
Mobile gaming and social forms of gaming are gradually replacing desktop games, and the industry is trying to adapt to current trends.
Hundreds of operators are working to implement support for live casinos and live games in their applications and mobile versions, while also taking care of the level of customer comfort on the other side.
It seems that the classic land-based casinos in the future will become something exotic. The share of the online sector is growing too fast. Nevertheless, ground-based establishments can still recoup in this battle – if they start to innovate and dilute the classics with something fresh and interesting.
So far, only in the process of conception is the sector of virtual reality games. However, by the end of 2020, the prospects for this area will already be clear. This may be one of the key trends of the next 10 years.
Well, customers just have to watch all these changes and take advantage of the era in which we live.
About the author
Melisa Marzett is a content writer who writes for writing-help.org along with travelling throughout the world. She keeps track of the world`s events as a former journalist and simply curious by nature person. Apart from that, she is a linguist who speaks four languages while learning the fifth. To learn a few more are within her plans just like to visit many more places she has not visited yet.