If you are a passionate gamer, who has been battling to explore the diverse universe of gaming since the days of 8-bit glory, then I have amazing news for you about the evolution of the gaming industry. In 2024, the digital landscape of gaming has changed and evolved with unpredictable things.
There have been so many transformations in this new era, new VFX and high-end technology has blurred the thin line between real and virtual. So, without wasting any time let us explain to you in detail about the cutting-edge tech that changing our digital adventures. Prepare yourself!
Gaming Industry Growth and Development in 2024
The eGaming sector disclosed the revenue closed in 2023 is somewhere around $245.10 Billion. Now calculate the 2023 vs 2022 growth as 10% and if we say that in 2028 the sector growth rate is expected to be $376 Billion with an annual CAGR of 8.94%. So many numbers, Huh!!!
The growth in the eGaming sector is calculated not assumed and not accidental. Rockstar Games spent over $2 Billion for GTA VI, Then there’s the acceptance of this high-tech stuff, group gaming, and smartphone developments. These parts act like rocket fuel, making the gaming business soar high and growing a worldwide group of gamers.
The money-making parts of the gaming industry are made up of different areas such as console games, mobile phone games, computer games, and playing on clouds. Playing games on phones is the most liked by them all. This is thanks to small friends and cell phones.
The quiet helpers in this tale are the game makers who carefully write code for different devices like Windows PC, Xbox, and PlayStation.
I can say that you probably living under a rock if you don’t know what metaverse is. But don’t worry I am here to explain to you everything about the new edge technology. Let us understand what Metaverse is.
Metaverse is a virtual world made by a computer where your virtual Avatar can live with other virtual people and AI computers. It means you can live in any game where you want. Isn’t this exciting? Now maybe you have questioned why metaverse is getting popular.
Metaverse is growing popular day by day because many companies and celebrities using Metaverse. People own everything they want like branded clothes, land, cars, and so on. Yes, you read it right, everything you own on Metaverse it patents for you as NFT (non-fungible tokens) which makes it more interesting.
It’s not enough to just pay attention to better pictures and detailed stories in games of the future. It’s all about making a fun and adaptable place for playing games. You can make your stuff and even come up with mini-games when you play online games in the metaverse.
The Metaverse is helping online casinos add more games than ever before. As developers and hosting platforms see, more people are moving to a wider range of games. You can’t be creative or try new things in real-life casinos, but you can do it in a flexible online world.
Realistic Graphics and Ray Tracing
Let’s begin with the fundamentals. Describe Ray Tracing. In easy words, it’s a way to make images that show how light acts on computer-made objects by following the path of light as little dots on an image surface. It sounds difficult, doesn’t it? The fun part is that this complexity makes our games even more real.
The last topic is Realistic Graphics. Everyone has felt “Wow, this looks so real!” when playing a game. That’s how pictures look real and grab our attention. It’s about making pictures that look real enough to confuse the difference between fake and true worlds. And because of the strength of tools like NVIDIA Geforce RTX 4090, we can play games with really stunning images.
Imagine being able to play your favorite video games on any device, whenever you want, and anywhere. That’s what makes cloud gaming so good. You can play games directly from the cloud using it, avoiding costly equipment or regular updates. Your phone, tablet, or laptop can be made into top-of-the-line game consoles by using cloud gaming.
Even though cloud gaming is still new, some big companies have already shown up. GeForce NOW and Xbox Cloud Gaming (Beta) are now two of the biggest names in gaming.
Many games on PC and mobile devices that work with Xbox can be played.
AR and VR Gaming
While VR replaces the user’s real life with a made-up one, AR gaming puts game pictures and sounds together with what the player is around right now. Instead of taking away real life as you see it every day, think about augmented reality as something extra added to it.
Games that use blockchain technology, like digital money and unique tokens (NFTs), in the way they work are called gaming with blockchains. Some games have built-in economies that allow players to control virtual things and money on their own.
When introduced in the 1970s, eSports was not much appreciated as it required an internet or LAN connection to play with other players. Very few gamers set up a dedicated network and play over LAN with friends. But in 2023, the eSport has a major share and affects the whole gaming industry today.
eSports shares among local gamers have grown a lot in recent years. With the initial release of CS: GO the players from all around the world gather in squads. In 2023, the exceptional active base of 1.3 million players was attained by CS: GO showing the love for eSports gaming. Overall eSport market will stand somewhere around $1.38 Billion in 2022. In a recent Newzoo article, they said eSports is growing 8% every year from 2020.
Moreover, the tournament gathers an audience of 500 million fans, just 15% of all the gamers. This also shows that the market has a lot of room to grow anywhere in the coming years. Also, note that the prize money and revenue of eSports tournaments and competitions will also grow. As of 2021, Dota 2 holds a tournament ‘The International’ and has a prize pool of $40 Million. It is one of the biggest eSports competitions ever held to date.
Got stuck in a game? Don’t worry, Steve is here to solve all your queries and give you some hacks about your favorite game.