The Future Of The Video Game Industry, How Advanced Technologies Can Revolutionize The Video Game Industry, And Why Esports Have Become Popular As A Type Of Spectator Sport In The 21st Century

This essay sheds light on the future of the video game industry, explicates how advanced technologies can revolutionize the video game industry, and demystifies why esports have become popular as a type of spectator sport in the 21st century . The future of the video industry will not only be characterized by dynamism as it continues to metaphorically evolve, but will also be eminently auspicious for competitors in the video game industry. Technological advancements have profoundly changed the video game industry and have rendered it all the more technology-driven by sophisticated technologies. The video industry shows no signs of contracting anytime in the imminent future. The future of the video game industry is apt be more sublime than envisioned, especially as technological advancements are made which can further revolutionize the behemoth video game industry. In 2024, it is possible to play video games in an ultra-high definition 4,000 pixels resolution. In other words, the future of the video game industry will not be solely limited to shovelware mobile games pervading the video game industry. "The global gaming market was valued at $151,550,000,000 in 2019 and is expected to reach a value of $256,970,000,000 by 2025, registering a compound annual growth rate of 9.17% over the forecast period of 20202025. Game developers across emerging economies are continually striving to enhance gamer's experience, launching, and rewriting codes for diverse console/platforms, such as PlayStation, Xbox, and Windows PC, which are incorporated into one product provided to the gamers through the cloud platform. The emergence of cloud gaming" ("Gaming Market - Growth," n.d.) has helped to substantially drive growth in the video game market. In the coming years, cloud gaming, mobile gaming, PC gaming, and console gaming are apt to become all the more prevalent as entertainment options among customers. "Recent advances in advanced cloud technology have turned the idea of cloud gaming into reality. In cloud gaming, the server, where all the games are stored, does all the computation work, which includes game scene rendering, game logic processing video encoding, and video streaming" ("Gaming Market - Growth," n.d.). The rising popularity of esports, gaming live streams, and gameplay videos have also contributed to the growth of the behemoth video game industry. It stands to preponderantly reason that the future of the video game industry will not only allow the video game industry to reach an unprecedented size, but will also attract more competitors to enter the sizable video game industry. In the coming years, similarly to video streaming subscription services, such as Netflix and Hulu, customers are apt to have more video game streaming subscription services available to them with a broader selection of video games to choose from playing. In other words, for a monthly subscription fee, customers will be able to have the option to stream a myriad of video games on their video game home consoles and/or computers. In the coming years, video game streaming subscription services is apt to offer a plethora of video game streaming services. "This new sector is also seen as a serious competitor for the game market" ("The Impact Of," 2019). The console video game segment is no longer the utmost lucrative segment of the sizable video game market. In the coming years, the future of the video game industry is apt to offer far more to customers than merely just new home console video games and new "virtual reality and augmented reality" (Koss, 2020) video game experiences. In 2019, the video game industry generated over $6,300,000,000 in revenue (Koss, 2020) from "augmented reality and virtual reality" (Koss, 2020) video games. Much to the relief of gamers, "companies are busy making virtual reality experiences more consumer-friendly, and it is only a matter of time before both the weight and price of virtual reality headsets drop" (Koss, 2020). Mo

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