Video Game Industry and COVID 19- Blessing in disguise

a boy watching game on tv
Home » Game » Video Game Industry and COVID 19- Blessing in disguise

Estimated reading time: 4 minutes

Despite the economic crisis worldwide, the video game industry is developing. Even in tough times like this. The industry as a whole is seeing impressive improvement in case of both revenue and attention, just like multimedia content development. Everything has a story. The coin has two sides. Improvement is the key.

Related Links ↴


Loading

Why? It’s simple- Video Game

With lockdown, millions of people are at home with very little to do. Video games offer that quick escape from reality.It is a joy unlike any other form of media. 

However, recent Newzoo report states that around USD 159.3 billion is about to spent on games this year.

In other words, this is four times box office revenues and almost three times music industry revenues. This puts the growth rate at an amazing 9.3% from last year.

However, Asia-Pacific is the biggest market by revenue. It has an impressive 50% of the games. Smartphones are easily available in developing countries now.

High-speed internet is increasing. With that, video games are no longer just a target towards developed markets. Additionally, most video game productions happen in developing markets.

Developing software is more accessible. As a result, local talent gets a chance to perform. This helps a person to set his career, as a video game developer.

The business model of video game

Customer’s choice and spending powers the entire industry. However, the business model has changed recently.

Previously, a customer would buy multiple games. But, recent trends show that today, they buy one or two games. They tend to spend more time and money in some particular games.

As a result, the video game industry is focusing on increasing engagement per user. Also, productions are adding money winning opportunities inside a game. 

E-sports is another part of the video game industry. It is having a lot of possibilities. The revenues exceed USD 1 billion. China is the leading market for it.

The business models for e-sports closely looks like that of professional sports. Most of the revenues come from advertising and broadcasting.

The Future

Looking towards the future, cloud gaming technology seems to be the direction. Everyone is going towards it. With high-speed internet, this technology will ensure big game titles. They will be available in all platforms, even low powered mobile phones.

That brings us towards mobile gaming. Online games are also a part. This makes up around 48% of the industry’s revenue. This is a blessing for game developers.

Mobile games are less expensive to make. But, at the same time it brings in healthy revenues. There’s also a low barrier of entry for customers as well. There is no need to invest in equipment like a gaming console.

Mobile video games have a large fan following. According to Newzoo reports, mobile gaming market will surely generate revenues this year. It is about USD 77 billion in 2020. So, it’s high time companies should get serious in making games for themselves.

And it doesn’t have to be a qualified complex video game. There are many games with simple development. Such examples are Ludo Star and Candy Crush. A company can make games to use it as an ad platform as well. 

This is where Riseup Labs, a leading game development company in Bangladesh comes in. They provide all sorts of gamification solution services a client might need. At times like these, the video game industry is achieving record-breaking sales.On the other hard, the rest of the economy just has no guarantee. Thus, many companies should think of creating a video game of their own.

Video games are not going to get old. However, in the future, it is going to change. As a result, this will keep generating revenues. So, the smart move is to go with the flow.

Riseup Labs on EmailRiseup Labs on FacebookRiseup Labs on GithubRiseup Labs on InstagramRiseup Labs on LinkedinRiseup Labs on MyspaceRiseup Labs on PinterestRiseup Labs on RssRiseup Labs on TumblrRiseup Labs on TwitterRiseup Labs on Youtube
Riseup Labs
Riseup Labs is an ISO certified leading technology solution and service provider company in Bangladesh focusing mostly on the Web, Mobile, XR and Simulator technologies.

74 thoughts on “Video Game Industry and COVID 19- Blessing in disguise

  1. I needed to send you one little remark to help thank you the moment again relating to the nice information you have discussed here. This has been simply seriously generous with you to supply publicly just what numerous people could possibly have offered for sale for an e-book in making some dough for their own end, notably since you could possibly have done it in the event you considered necessary. Those secrets additionally worked to provide a good way to know that the rest have a similar eagerness much like my own to grasp a good deal more with regards to this condition. Certainly there are some more fun opportunities up front for those who look into your blog.

  2. I visit day-to-day a few websites and information sites to read posts, but this webpage gives quality based writing.

  3. Thank you for the auspicious writeup. It in fact
    was a amusement account it. Look advanced to more added agreeable from you!

  4. Wow! At last I got a web site from where I can truly get helpful facts
    regarding my study and knowledge.

  5. Excellent blog here! Also your web site so much up very fast!
    What web host are you using? Can I am getting your affiliate hyperlink to your host?
    I want my website loaded up as quickly as yours lol

  6. Hi there, i read your blog from time to time and i own a similar one and i was just curious if you get a lot of spam feedback? If so how do you reduce it, any plugin or anything you can suggest? I get so much lately it’s driving me insane so any support is very much appreciated.

  7. It is the best time to make some plans for the future and it is time to be happy. I have read this post and if I could I wish to suggest you few interesting things or tips. Perhaps you can write next articles referring to this article. I wish to read more things about it!|

  8. Thank you for your own hard work on this site. My daughter really loves setting aside time for
    investigation and it’s really simple to grasp
    why. Almost all notice all about the powerful form you give priceless information through your
    blog and inspire contribution from other individuals about this matter then our child is always being taught
    a lot of things. Take pleasure in the rest of the new year.
    You’re the one doing a glorious job.I’m really inspired with your writing talents as well as with
    the structure on your weblog. Is this a paid subject or did you customize it yourself?

    Either way stay up the excellent high quality writing, it’s uncommon to peer a nice weblog
    like this one today.

  9. Whats up very nice site!! Guy .. Excellent ..
    Amazing .. I’ll bookmark your site and take the feeds additionally…I am happy
    to find a lot of helpful info here in the post, we want develop extra techniques in this regard, thank you
    for sharing.

  10. What are good blog posts for a writer who wants to start a blog that even non-readers might want to visit?

  11. Hey there, You’ve done an incredible job. I’ll certainly digg it and personally
    suggest to my friends. I’m confident they’ll be benefited from this web site.

  12. Really very happy to say,your post is very interesting to read.I never stop myself to say something about it.You’re doing a great job.Keep it up dear

  13. Enjoyed reading the article above , really explains everything in detail. also, the article is very interesting and effective.Thank you and good luck for the upcoming articles

  14. Hello, i think that i noticed you visited my web site thus i
    got here to return the choose?.I’m attempting to find things to improve my website!I guess its
    ok to make use of some of your ideas!!

Leave a Reply

You have to agree to the comment policy.