Application Technology to revolutionize the gaming industry with double digit growth

Worldwide gaming industry is going to witness a paradigm shift with the introduction of newer applications and increasing internet penetration. Everything from interface technology and mobile software has made this possible. The gaming sector has been revolutionized with the advent of advanced graphical engines and information technology. With this it has allowed huge developments to be witnessed by casino enthusiasts all over the world. A report shows the global gaming market reached a value of 167.9 Billion dollars in 2020. By 2022, the gaming industry will generate 196 billion dollars in revenue. Technology companies are looking to get involved in this revenue stream.

Tech giants such as Google, Facebook and Apple have all made plays to enter the video gaming industry. With the upward growing trend, we can foresee the global gaming market to reach a value of 287.1 Billion dollars by 2026. It is possible, with the growing adoption of mobile and browser games which offer free-to-play business models which is another trend that is gaining traction in the gaming market. Video games have been around for decades, providing entertainment for children and adults alike. Newer games are introduced by the technology giants including Sony and Microsoft, through their most popular Xbox and PlayStation series. We have seen PS5 come out within the past few months, while the pandemic was raging, they tried to provide gamers with entertainment within solace. The market is witnessing a rising competition with the introduction of newer gaming technology by Nintendo Gaming Consoles.

We have seen another shift from physical games to online games introduced by Tencent Holdings and many other companies. At the same time, we have witnessed with the rising popularity of the online casino business and e-sports, multiplayer video game competitions between professional and amateur players, the gaming market is witnessing an accelerated growth worldwide.

Technology innovations continue to grow from the power of the mobile phone. We can’t deny the fact that the future of the gaming industry is very much promising. Goa has legalized both land-based and water-based casinos and the state of Sikkim is offering bricks-and-mortar casinos and its own online gaming market, which may be what other states can look forward to. The first casino in Goa opened in 1999, and there are now 15, with five offshore in ships anchored on the Mandovi River. With an estimated 15,000 guests daily, Goa earns around Rs 1.35 billion (22 million dollars) in taxes from the business. Now, even Casinos have been developing ways to integrate Virtual Reality more frequently within their gaming outputs. A report shows India's growing middle class are helping in the expansion of online casinos in India.