GamesIndustry biz presents The Year In Numbers 2024

A rapid rise in the penetration of smartphones is a key contributing factor to the rising number of gamers. Most smartphones available in the market have processors that support games with higher graphics and visual effects. In addition, the rising penetration of high-speed internet globally is a key contributor to the growing trend of online multiplayer games. For instance, in October 2022, Activision Blizzard Inc. launched its all-time celebrated game Overwatch’s new version, Overwatch 2, with free-to-play and monetization options to cater to the growing demand for multiplayer games. The rising consumer preference for multiplayer games led to the growth of esports competitions globally.

This widespread access to internet-enabled devices is not only expanding the player base but also driving innovation in game development and distribution methods. The growth in mobile internet consumers is expected to be complemented by a five-times rise in data consumption, further enhancing gaming industry growth. As a result, the market is poised for expansion with a young population, high internet volumes, engaged online users, and improved paying propensity.

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• Developers should embrace this aspect of gaming culture and make it a key element of their expansion strategies.
• As of December 2021, Tetris is the best-selling game franchise worldwide with 496.4 million unit sales worldwide.
• The video game industry has evolved into a worldwide phenomenon, with the gaming marketplace expanding rapidly across various platforms.
• This was especially in Europe (with the ZX Spectrum and Commodore 64) and in Asia (with the NEC PC-88 and MSX).

Some reductions speak to difficulties in the esports space, which relies heavily on the East for support, where the massive Chinese market has undergone significant restrictions in youth gaming. Tencent, both Riot Games’ parent and the biggest global company in gaming revenue, has been one of the companies heavily affected by such restrictions. Players become fourth-party developers, allowing for more open source models of game design, development and engineering.

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Console gaming holds a substantial market share, supported by the country’s developed economy and high per capita income. Germany’s hosting of major gaming events like Gamescom further solidifies its position as a key player in the global gaming landscape. Canada’s gaming market is experiencing significant growth, fueled by a combination of technological advancements, supportive government policies, and a thriving game development scene. The country has become chipshopgame.com an attractive hub for video game development, supported by provincial funding programs and initiatives like the Canadian Media Fund. Mobile gaming is gaining substantial traction in Canada, driven by increasing smartphone penetration and the availability of high-speed 5G networks. The country’s gaming industry is also seeing increased interest from international companies, leading to partnerships and acquisitions that are further stimulating market growth.

The technological advances have been continuous and rapid in game development and have brought a shift toward personalization and user-centricity. This development in resolution technology brings more user traction and likeability, resulting in rapid advancement in the market. The decent graphics of video games are experienced through high-definition displays such as HD, FHD, UHD, and 4K.

The high-definition displays, which offer 720p and 1080p, have significantly fueled demand for more realistic games. For instance, in October 2022, Apple announced its plan to launch its new 27-inch pro-motion external display early next year. This external display is 5K with Apple’s ProMotion tech, which adjusts the refresh rate depending on the context and can rise as high as 120Hz. The launch of Battle Royale games for smartphones has significantly contributed to market augmentation.