More and more consumers are purchasing hand held devices, for either themselves or for their kids. The video game industry therefore has no intention of slowing down on its development and game quality assurance.
It is estimated that the gaming industry will reach $68 billion in profit by the year. This is enough evidence that any investment in this venture would be one of great value. Console games are at the top of the list in terms of sales, with a growth of about $25 billion to an expected $35 billion. Sales in the United States alone are just under $12 and represent an increase from $8.6 billion. Next in line with sales are online games. This generated about $7 billion in 2007 and is expected to increase to over $14 billion. Any investment to be done would not include PC gaming as this is on the decline and is expected to continue as the competition and the demand for handheld devices are great.
Not to be underestimated is the mobile gaming market which has seen a substantial increase in the last couple of years. Handheld devices are very common and the mobile gaming division has grown by 19% in sales since 2010. Mobile gaming has seen more complex games that give the user a more stimulating experience. Game Programming has spent hours on these games, to assure that the users get a wholesome experience.
Compared to the sales and use of music and movies, gaming for entertainment will surpass these as its growth is occurring at a rapid pace. The gaming industry is moving towards the eighth generation and the prospects are looking bright. This no doubt, will force the game companies to come up with more innovative ideas to capture and keep the market. In the long run, this move will create more jobs for developers and Game Testers. According to the Entertainment Software Association (ESA), it is estimated that about 120,000 persons are employed to the gaming industry. An additional $4.9 billion has been added to the gross domestic product (GDP) because of the creation of jobs.
From the beginning the focus of the gaming industry was on hardcore players who had only one hobby, and that was gaming. Developers have created content rich games using the best and latest technology to capture and intrigue the player. These games are usually expensive because of the high development costs associated with it. The casual gamers control a piece of the market too even though they are not as intense as the hardcore gamers. Typically the games they play are much simpler allowing the gamer to reach the end of the game much quicker such as Internet games, handheld games and mobile phone games.
Large companies such as Microsoft and Sony are tapping into this successful industry as they too have developed motion detection games like the Wii. In the last year, Microsoft has released Kinect for X-Box and Sony its Move controller.
Gaming has become a part of everyone’s culture, regardless of their demographic location and this industry is not one to be overlooked when considering investment options.
