The emergence of gaming as a global phenomenon

Once upon a time gaming meant being in physical proximity with each other and playing while talking, laughing, and giggling! We have come a long way from the time when board games such as ludo, carom, etc. were played physically. It had a human touch and involved face-to-face interaction. However, the gaming landscape has evolved over the years. In fact, it has completely upturned from what it was a year ago! The global pandemic pushed us to quarantine and practice social distancing norms. While it disrupted various industries, COVID-19 emerged as a blessing in disguise for a few sectors and the gaming market is one such segment.

It expedited the growth of the sector and as a result, online gaming has been gaining prominence ever since at the global level. Owing to the coronavirus and the pandemic-induced digital revolution, online gaming is the new fad and is emerging to be a global phenomenon. With the growing smartphone penetration and easy accessibility of data at affordable pricing, gaming has taken the mobile route. Online games are now accessible anytime, anywhere surpassing all geographical barriers and differences in time zones due to mobile gaming.

The gaming sector has had remarkable growth so far , as per Modor Intelligence research, the global gaming market was valued at $173 billion in 2020. It is projected to grow at a CAGR of 9.64% and will hit the $314.40 billion mark by 2026. According to Statista, the market generated revenue of approximately $21.1 billion. These statistics depict that the market was at its prime last year and is growing exponentially. Passé are the days when the meager mention of the word ‘gamer’ used to evoke flashes of a teenage boy locked in a dark room hooked onto his screen.

With the growing market and the surge in mobile gaming, gaming is now accessible and available to all. It has turned into a global trend and even the definition of the term ‘gamer’ is changing. In the present times, users of all age groups play online games across platforms and mediums. This has turned out to be beneficial not only for the gamers but for the developers as well since they can expand their reach and tap markets across the globe. With robust tech infrastructure in place, cross-platform multiplayer gaming is also possible where gamers separated by greater distances can play together. As a result, gaming has transformed into communities where players log in not only to play but to interact and connect socially.