In 2020 the global gaming market was valued at USD 162.32 billion and is expected to increase to USD 295.63 billion by 2026. This phenomenon is also related to COVID-19 since most of the world has been closed. Cinemas, bars, and public spaces that used to provide entertainment were substituted by gaming and esports. A recent survey shows that USA gamers spent 45% more time playing during the quarantine.
Not only playing the games themselves but also a need to watch others play to learn and improve skills, increased in 2020. According to the research, the first-time download of Twitch has risen to 14% in the USA. Italy faced a 41% increase during the strict quarantine.
What Key Gaming Market Trends Will Rise In 2021?
1. Smartphone gaming is expected to witness significant growth
Companies that are developing games for PC’s and Consoles add Mobile versions to their lists as well. A good example is Call of Duty: Mobile that has been highly successful and awaited by the gamers community. 5G will also contribute to mobile gaming growth since it will solve the unwanted glitches and lag problems.
2. Spectators will be overtaking gammers
E-sport is becoming a spectator sport, especially among the younger generation. Various tournaments are becoming extremely popular around the world. It is expected that in 2021 there will be 90% growth in the audience watching others playing games. In 2021 Twitch is expected to receive over 2 billion live-stream viewers per hour.
3. Breakthrough in Augmented & Virtual Reality (AR & VR)
In 2021 technology behind both AR & VR should offer a more realistic visual experience. The sector already draws attention by big market players. Apple has been exploring the field for quite some time now, and is rumored to launch a dedicated AR/VR product in the not too distant future, which could give an unprecedented boost of VR popularity amongst everyday users.
All in all, the future of the gaming industry is promising. COVID-19 boosted its growth, and it will not stop even after the pandemic. More and more people are interested in e-sport not only playing themselves but watching it. Also, AR & VR will offer an even better experience, so gain much more popularity.
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