In the twenty-first century, the gaming business exploded in terms of scale and reach. This was due to a coordinated response between technological advancements and the capacity to monetise these games by enhancing every element of the process. The following are the major drivers:
The Internet is exploding.
The world became smaller than previously as the internet’s reach grew, with greater penetration at a rapid rate, higher speeds, and lower costs. It opened up a slew of new possibilities and applications in both business and technology.
Multiplayer gaming became popular, which re-engaged those gamers who had become bored after completing the single player campaign and were forced to wait for the next ‘good’ game. The internet transformed the industry’s value chain and gave birth to the world of ESports. Mobile internet prevalence in MENA nations such as Saudi Arabia is above 90%, making it one of the fastest expanding prospects.
Creating a community
A dopamine hit is a basic retention hook in gaming that keeps you coming back for more. Every time you play a game, the goal of the game designer is to make it as enjoyable as possible. More players joined the scene as they improved their games, and they brought their buddies along (sometimes skipping school to “pwn some noobs”). When a game becomes a popular brand, such as DOTA, CS, COD, or LOL, the virality is great.
As experienced players gathered, some even crossing countries to form teams, they participated in gaming competitions, which eventually evolved into ESports. The best teams frequently have celebrity status and a large fan base. Investors are already considering sponsoring teams because there appears to be a lot of money to be made.
PSG, one of Europe’s most prestigious football clubs, recently collaborated with LGD, a Chinese club. Aside from fans and players, the community includes cosplayers and independent artists who attend comic-con events and create in-game cosmetics, respectively.
The mobile revolution is in full swing.
In 2007, when Steve Jobs unveiled the iPhone, he provided a glimpse into the future of mobile. With the release of Android in 2008, that ambition became a reality, with apps like Angry Birds and Candy Crush becoming hugely popular.
With each development of Android, Chinese businesses began to produce world-class mobile phones that rivalled Apple and Samsung but were substantially less expensive. With e-commerce acting as a catalyst, gadget adoption accelerated, bringing more individuals into the ecosystem.