It was in the early 1990’s that online gambling started, and it developed alongside the internet. Not up to 30 years, and the online gambling global market has hit a value of £149.5 billion based on a study by https://casimple.com. The market, which has casino gambling, as well as esports as one of the key sectors, is currently bigger than the recorded music market which is valued at £14.5 billion, and the movie Box Office which is valued at £32.8 billion.The largest gaming platform currently is mobile, with 2.4 billion gamers at the moment, and according to the results of a study, it produced revenue of £52 billion in 2019, which amounts to 45% of the entire market, which includes tablet and PC gaming. The estimated annual growth of the mobile games market between 2018 and 2022 is +10.8 percent.
What Does This Imply To the Consumers?
Mobile games will witness more premium gaming titles. They will include titles that would have more competitive, interactive and immersive gaming content based on information from NewZoo.The link between 5G and mobile gaming may seem to be overhyped, but the truth is that it will witness a huge advancement from 4G. When talking about this, Nokia, which many people may not see as an unbiased observer, posited that the digital media would be reinvented by 5G by taking us to a place where we will witness a never seen before sense of wonder in a high definition 3D world. For them, the extended reality technologies are given life by 5G, specifically the Augmented Reality and Virtual Reality. These technologies according to them will bring the people, objects, and information around, not just in front of us, us as we use them, and this will bring about a very huge and strong emotional interaction and engagement.In the area of hardware, big names in mobile devices production like OPPO, Vivo, Xiaomi, Huawei, and Samsung have released their first set of 5G enabled handsets, and will launch a complete cache of 5G devices later in the year. There are also rumors that Apple will release a 5G phone later this year. According to a forecast by NewZoo, the number of 5G enabled phones in the market by 2022 would be up to 2 billion.The adoption of 5G and what it offers would be driven by such trends as real-time personalization, cloud gaming, and virtual reality.Cheaper headsets have been announced by industry leaders like Valve and Oculus Rift, and through these, the mass market can now have access to these gadgets that tend to erase the line between reality and fantasy, and 2020 may also bring in more of those according to a study.The cloud market capitalizes on internet connection that is faster and more reliable, as gamers are given the chance to stream games as opposed to playing on consoles.The future may have gamers designed in a way to fit the play style and personality of each player, capitalizing on their play data, says the report.While these technologies continue to advance, the way the players experience the games are altered, and they give advertisers and brands the chance to make the best out of enhanced viewer engagement.Through all these, tech companies enjoy a huge amount of new opportunities, in many different areas. For instance, Oculus was bedeviled by slow take-up, but with online gaming on smartphones, all that could be changed.There must also be a very strong case for better services by the 5G for users. New technologies are mostly adopted by the gaming sector first before all other sectors in the entertainment scene, and it is also our opinion that the meeting point between 5G and consumers on the mobile system would be engineered by gaming. The future that 5G will deliver to gaming may be platform-agnostic, and platform-agnostic gaming will have mobile as a very essential point of access, with cloud gaming as an example. In fact, 5G may have cloud gaming as its killer app according to a report by NewZoo.