Online gaming industry thriving in 2021
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Online gaming industry is growing. In 2020, the global online gaming market generated around $21.1 billion U.S. dollars in revenue. China, Japan and South Korea have the biggest gaming reach. The global gaming audience is projected to surpass 1.3 billion in 2025.
The Americas had their most successful year of growth in the online gambling market. In 2020, the market was valued at USD 1,78,57 million. The US online gaming industry is projected to grow at a CAGR of 17,32% during the forecast period 2021-2026.
The most popular trends and innovations in online gaming industry for 2021 are: Mobile gaming, cloud gaming and eSport. It is expected that eSports will become more popular and dominate the online game industry in the near future. The trend of mobile gaming will grow with the increase of smartphone screens. Cloud gaming is a new form of gaming that will eliminate the need for expensive gaming hardware.
The internet penetration and urbanization are the main factors behind the growth of the online gambling market in 2021. The next trend that we can expect in the industry is more and more crypto payments. The blockchain system will resolve trust issues between online casinos and players.
In 2020, there were 80 billion mobile game downloads with an 18% YoY growth. Players spent $100 billion in mobile games. Most revenue will be generated in China in 2021. By 2025, player spend will reach $138 billion. 58% of App store’s revenue comes from non-gaming apps.
