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The Rise of the Video Game Market through the Years

The Rise of the Video Game Market through the Years

Gaming spaces throughout the world have evolved quite a bit since Eurocenter Games, founded by Stephane Portha set the ball rolling by participating in the first video game launch on the Apple Application store in 2007. And, as the trends have been depicting, they have seen a voluminous growth since then.

What Stephane Portha started by way of furthering his passion is now a cult for many. In fact, if we go by statistics, then the entire video game market in the United States clocked in at a total net worth of 17.68 billion US Dollars, in 2016.

Now, with such astounding figures, one is bound to pose a few very pertinent questions. The first amongst which is the following:

Who are the major consumers of this particular sector?

The traditional school of thought would definitely attribute this to preteens, and individuals between 13 to 19 years of age. However, with the evolution of games like Player Unknown Battleground, Clash of Clans, or even the Greek-Norse Mythology based God of War, gaming is no longer limited within the confines of one’s home screens, or for that matter to preteens.

Yes, gaming can now be counted as a full-blown, yet an unconventional profession, as gamers from across the world swarm to one platform, and compete against each other in a big way, that actually earns them worldwide fame and admiration.

So, what exactly are we looking at when we speak of the video game industry?

The big picture is huge! Colossal, if truth be told! Video game engagement rates are higher than ever, and this acts as a magnet for investors to put their bucks herein. Meaning, this is a market where one can hope to earn a consistent, lump sum return on their investments.

Experts opine that this trend is nowhere near to showing a decline in any respect considering an average annual increase of 13.3 percent. This figure denotes a monetary value of almost $16.2 billion. Consequently, the share prices of video game companies have rocketed to unprecedented heights. For instance, Electronic Arts, an upcoming video game company, has priced its shares at $155 per share.

And like we’ve said earlier, this will only grow over the time. Experts and analysts have gone on to predict that the video game industry is likely to encroach its way into television sales, and other media occupancies as well, in due course. This is because, as they say, youngsters, who comprise the maximum audience for media consumption, are more likely to prefer video games over any other form of entertainment or engagement.

And, do the gamers have anything to gain?

To be very honest, this particular question is a moot point. Big returns, definitely count for bigger investments. And these investments shall always be aimed at better and more retentive engagements.

This is why, these companies organize worldwide tournaments with prize amounts as high as $2 million for winners. The amount itself is proof of the penetration of the industry, and the returns thereof. Plus, it is also indicative of the potential that these companies intend to tap in the near future.

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