SLIEMA, Malta, June 11, 2021 /PRNewswire/ -- The gaming industry
suffered from the effects of the COVID-19 pandemic in 2020, while
the videogame industry is expected to show double-digit growth in
2021 following phenomenal growth in the past two years. The
COVID-19 pandemic will continue to influence gamers' lives,
increasing their video gameplay levels to stay connected and
entertained during these difficult times. Although the pandemic has
not resulted in substantial new video game consumers, it has
significantly boosted the amount that existing video game consumers
play. Active players say increased gaming has helped them achieve
increased emotional and mental health during confusing and often
frustrating stay-at-home measures.
Games also help parents find common ground with their kids while
assisting them in spending time connecting. Sixty percent of mature
gamers and 75% of adolescent gamers reported playing more video
games during the pandemic. Sixty-five percent of adult gamers and
78% of teenage gamers find that gaming while supporting
stay-at-home health measures makes them feel better. Seventy
percent of young gamers reported using online video games to stay
connected while isolating themselves at home. Sixty-five percent of
adult gamers with young children reported playing video games with
their children, and almost half of this group reported playing more
often during COVID-19. Gamers also identified video games as a
means of helping family and friends stay bonded and connected
throughout the pandemic.
COVID-19 lockdowns are expected to support global gaming sales
rise 20%, and growth shows no signs of slowing since the release of
next-gen PlayStation and Xbox consoles. Videogames have transformed
to look a lot like competition-based, interactive movies. The
COVID-19 pandemic has helped the gaming industry make more money
than the film industry and the North American sports industry
combined. Moreover, GAMIVO.com has seen sales soar in recent
years because of the variety of ways active players can game, which
include but are not limited to: Mobile games, Digital copy games,
In-app purchase (freemium) games, Cross-platform games—not limited
to a specific console, Streaming game services,
Games-as-a-subscription models, and Online distribution services.
While console sales will boost new versions, that is not the most
significant chunk of the industry, nor the fastest growing. And the
largest gain is still yet to be realized.
The greatest gain is expected to come from mobile gaming, with
China playing a significant role
in smartphone and tablet gaming revenue. Worldwide mobile gaming
revenues, excluding in-game ad revenue, are anticipated to surge in
the months and years ahead. Mobile game revenue is expected to
widen primarily due to its already significant lead over the
console and PC-based games; this shift marks a consumer economic
consideration. Unlike dedicated gaming consoles, mobile
phones and tablets are more accessible, a necessity, and cheaper,
all things considered. Somewhere between the console and the smart
device usage stands PC gamers since their play requires a
multifunctional device that's more commonplace than consoles but
less widespread than smartphones. Mobile Will Lead the Industry The
gaming industry's console and PC platforms face an interesting
challenge of increasing the amount of money spent per customer.
These companies should take cues from mobile, which now accounts
for most industry revenue. The mobile device population is
enormous, much larger than the console device population.
Many gamers may be happy only playing on their mobile
device of choice. All the high-revenue video games in the mobile
market either launched on mobile or were exclusive to the
platform-surpassed $1 billion in
revenue to date. So, as stated earlier, GAMIVO.com has seen a
significant positive impact on its revenues during the COVID-19
pandemic.These games allow people to spend virtual currency to
progress quickly or get additional assets in the game, thus
creating a race between players to spend money to one-up someone
else, and then that person spends some money to battle back. The
most competitive players want to win; this is the 'why' they spend
more and more money. There is a willingness because players are
having a lot of fun, but they achieve social status more than
that.GAMIVO.com transacts the buying of game CD keys and
activation codes for Steam, Origin, Uplay etc., so gaming
enthusiasts can easily access the best gaming deals and discounts
online; this service has proven to be very profitable and will
continue to grow.
Playing in the Cloud is the hottest growth area, even
before the pandemic, was and still is cloud-based services.
Internet giants like Google, Amazon, Tencent, and Microsoft understand the
infrastructure and streaming needs. Sony and Microsoft both have
extensive catalogues of first-party IP and third-party games. There
have been reports that Microsoft and Sony were reaching a strategic
agreement. We might see Sony and Microsoft organize their back
catalogues and new releases under one umbrella, becoming a
convenient monthly subscription service where active players can
access a collection of games, similar to how Netflix operates. A
subscription service is an exciting development for the game
industry because Google, Amazon, and Tencent can focus on infrastructure and
innovations that can grant them a piece of the value chain, such as
payments or fraud detection. But in the next few years, we could
see much larger acquisitions than we have ever seen in the gaming
industry's history. The free-to-play model will increase.
There is a chance for free-to-play (F2P) video games – games
that give players access to large portions of their content without
paying – to become more solidly established as the leading
marketing message for customer adoption. It is the standard in
mobile, but it is gradually creeping into the PC and console world.
There are increasingly more cross-platform games with a
free-to-play model. Free-to-play with the virtual goods economy
will boost the industry to double and possibly triple in size. The
pandemic, in a way, created an environment for all the right things
to happen to accelerate the industry. New console releases drive
the industry.The benefit from new console releases is primarily
felt in the U.S. and Canada. Video
game spending rose sharply, while hardware sales, software, and
accessory sales all climbed significantly. Console gains were more
pronounced in late 2020 when Sony's PlayStation 5 and
Microsoft's new Xbox line were released along with some
long-awaited game titles.Since the beginning of the COVID-19 global
pandemic, GAMIVO.com has witnessed an upswing in customer
transactions resulting in a positive increase in revenue, which
will most likely continue to grow throughout 2021 pandemic
continues to change how people interact and play.