Video games: The industry of the present and the future
20 de January de 2020
20 de January de 2020
The video games industry dominates the entertainment market and ranks as one of the most important sectors in the world, but what is behind one of today’s most important industries? Gain an in-depth insight!
Video games are no longer simply seen as pastimes. In recent years, they have gone on to become the stars of one of the industries with the greatest forecasts for growth at a global level. In 2017, video games set a new record of turnover generated of 108.4 billion dollars. In 2019, this figure rose by 40%, to reach 152 billion dollars. As a result, within a matter of months, the video games industry has positioned itself as one of the fastest-growing economic sectors.
But what is behind this growing industry? To gain a better understanding of how it works and the success it generates, we have to answer certain questions:
What are the main platforms in the video games industry?
The video games industry has three large branches of platforms that have each managed to expand the market and improve the perception of video games, each with their own dynamics and individual features. Firstly, mobile games represent the sector with the strongest growth. In 2018, such games generated a profit of 43 billion dollars, while in the first half of 2019, this figure already climbed to 39 billion dollars. Next, there are PC games, which recorded profits of 33 billion dollars in 2017 alone. Last but not least, console games remain a fundamental aspect, generating profits of 8.3 billion dollars in the same year.
Who forms part of the new playing field of the industry?
As well as the platforms, it is essential to be aware of the key players in the modern-day video games sector. Together with the innovation of the millennial generation, the digital age has expanded the boundaries of video games and enabled the development of key roles for the growth of the industry. One such case are clubs or teams of players who have become true celebrities by competing in tournaments. YouTuber gamers, such as the Spanish player El Rubius, represent another essential side of the industry. Moreover, there are key events: trade fairs, congresses and global tournaments, such as the world championship of League of Legends [MAD1], which was watched by 74 million people in 2018.
What companies and series lead the industry?
The recent rise in gaming has also been driven by the companies and games that strengthen their bonds with audiences year after year. Tencent Holdings, for instance, is a company specializing in online games. It is owned by Miniclip, which generated revenues in 2017 in excess of 18 billion dollars. Activion Blizzard, the creators of Call of Duty and Candy Crush, are another rich mine of creativity and technology which achieved profits of over 6 billion dollars in the same year. Nintendo, Sony and Microsoft have made sure not to miss out and are still contenders in the race.
In terms of the games, as well as iconic classics like Pac-Man, Tetris and Fifa, the games that have driven the boom in the industry over the past few years include Warcraft (2004), Angry Birds (2009), Minecraft (2011), Grand Theft Auto V (2013) and Fortnite (2017), to name just a few.
What does the future hold?
Apart from economic growth, the video games industry looks set to enjoy a bright future in which games are not simply a thing for young gamers, but rather they will form an everyday part of all our lives. With the help of the Internet of Things, virtual reality and augmented reality, the growing industry is set to succeed in all markets and become an intrinsic part of all aspects of our day-to-day lives. Are you ready for it? What do you think of the unstoppable rise of gaming?