The online gaming industry is evolving at a rapid rate as playing games has become an important source of entertainment for everyone. Technological advancements have played a crucial role in this sector. With the availability of different gaming technologies, it has now become possible for every person to play various games in an interesting manner.
According to the available data by Statista, the revenue in the online gaming industry is expected to grow at 1% during 2020-24. In the year 2020 alone, revenue growth volume equals to US$17,141 million is expected. And growth in the volume of US$17,869 million is expected by 2024. User penetration is expected to stand at 11.8% in 2020 and this number may hit 13% by 2024. Here are the reasons for its high growth in this sector:
Availability of Advanced Technologies
The one common reason for the rising growth in this sector is the availability of advanced technologies. The introduction of virtual reality, augmented reality, wearable gaming, mobile gaming, and voice recognition, has made it possible for every player to play various games in an interesting manner. Now, people can play different games in a convenient manner to enjoy their time in the best possible way.
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Awareness About Benefits of Gaming
Another reason for the rising demand of different games is the growing awareness about the benefits of playing games. It is proven in many studies that playing different games helps to boost the mental health of a person and it also offers cognitive benefits. Playing online games boosts memory, improve coordination, decision-making skills, and problem-solving ability of a person.
Introduction of Fantasy Sports
The introduction of fantasy sports is also an important reason that has boosted the growth of this sector in the last few years. A lot of companies are now focusing on introducing fantasy sports and esports to provide an excellent gaming experience to players. And all this has become possible due to the high demand of fantasy sports across the world.
Gaming Devices
Due to the introduction of gaming smartphones and smartwatches, playing different games has become all the more convenient. In addition to this, due to the availability of portable gaming devices, it is now possible for every person to play any online game while commuting from one place to another. A lot of people are buying D2 items from reliable Diablo 2 store to enjoy their time in playing this game on different gaming devices.
So, these are the popular reasons due to which the global gaming industry is evolving at an excellent speed. And it has given every player an opportunity to enjoy his time playing interesting games in a convenient manner.
