There are mainly two factors influencing the online gaming industry – the increased use of smartphones and the presence of countless app-based games. These key factors have taken the gaming business to unimaginable heights that were unanticipated earlier. Online gaming operator companies like Fun88 with their prominent presence have given the gaming industry phenomenal growth unseen before.
A consumer can access the gaming app at any time of the day and anywhere he wishes. Virtual presence is acting substantially in this scenario over physical presence. It is why games on smartphone apps have gained huge popularity contributing immensely to the actual growth of the digital gaming industry.
The drivers influencing the growth
With the increased popularity of online gaming, the mobile gaming industry observed a revenue generation of a whopping $89.6 billion in 2021, a 12.6% rise from 2020. It constitutes more than half of the global gaming revenues, mostly powered by online gaming apps.
As per the statistics of 2021, mobile game spending by consumers has seen huge growth, from $79.6 billion to $89.6 billion in the previous year. The revenue generated by gaming sites like that of fun88 constitutes more than 76% of the total revenue from the entire app store.
According to a report, due to the considerable increase in the usage of smartphones and other mobile devices like laptops and tablets, online games is the third highest online activity after shopping and personal banking.
A share is fair on the bustling ecosystem of online gaming
The massive success of the online gaming ecosystem has attracted stakeholders from different sectors. While new players are coming up every day in the eye of wanting to have a fun time, there are other players in the industry as well. Game developers, operators, franchisees and advertisers are making a bustling ecosystem for the online gaming industry to reach unforeseen heights.
In the eye of achieving a bigger market share, stakeholders are churning up innovative ideas to monetize the opportunities the industry hoists. Stakeholders like the advertisers have found new ways to advertise their agenda while keeping the gaming experience intact. Likewise, for game developers, this is a golden opportunity to bring their skills to the forefront and monetize it.
The future holds more
With ever-advancing mobile technology, improvement in connectivity speed, AR/VR, intervening of artificial intelligence and high-end technologies, the future of online gaming industry and the stakeholders concerning it can be predicted to reach the zenith.