Top Trends transforming the Future of Gaming & Media
Highlights of the Gaming and media industry statistics
· According to reports it is estimated that Tencent, a Chinese entertainment company has generated the highest gaming revenue of 19.73 billion U.S. dollars in the year 2018,
· As per the sources, more than 60% of respondents used a smartphone to play their favorite video games in 2019.
· There are approximately 1.82 billion video gamers across the globe in 2014. The number is likely to increase to above 2.7 billion gamers by 2021.
· The media market in the United States was worth an estimated 678 billion U.S. dollars in 2018, and the market will grow to above 720 billion U.S. dollars by the end of 2020.
Introduction:
From the past few couple of years, the media and gaming industry is continuously going under a state of rapid transformation. Digital media has come into sight as the best distribution medium that is taking a center step across all sub-sectors like films, print, gaming, advertising, radio, and music. With time the digital media has become the core revenue generation stage, convincing quite a lot of media companies to implement digital strategies to endure the fiercely cut-throat marketplace.
When we look at the speed at which the gaming industry over the years has finally arrived where people rather than opting for daily 9 to 6 job, they prefer taking their interests seriously.
Interestingly, even businesses are looking forward to ways that increase their profits and are turning to pioneering tactics, including virtual reality, Augmented reality, and Artificial intelligence to keep their customers occupied. Here in this write-up, we are going to discuss the trends that will change the media and gaming industry in 2020 and beyond.
AI for Personalized solutions
Without any uncertainty, Artificial intelligence has become one of the most transformative tech solutions in the past few years. AI technology has been used in abundant ways to perk up customer experience and simplify business operations. It is predicted that AI will continue to rule the media companies as it offers personalized and effective solutions. The rising demand for personalized solutions content in recent years has completely changed the media enterprise’s work procedures. It has become crucial to create customized content for the customers as the competition in the market has increased.
Virtual and Augmented Reality
Virtual reality has become the hottest trend in the media and gaming industry. According to the Global Entertainment and Media outlook prediction by 2020, VR content revenue would boost to $5 billion. As we know, that AR and VR trends in the digital market have occupied a major space in the media and entertainment that helps in meeting the mounting customer demands.
VR has a range of applicability in the entertainment business. In addition to the media industry, AR and VR also have changed 3-D games. With the help of biosensors that have intensified the user experience — for the positioning of players in the games. Undoubtedly AR is trending in gaming as it is known to everyone how much fame Pokémon GO achieved in no time.
Live streaming to engage the viewers
Nowadays, live streaming is liked by people as it helps them to know their audience likes and dislikes more easily. This step has helped the brands to create an engaging method of delivering the content. The streaming option also boosts the trust, and more industries are now leveraging this option to reach out to their target audiences. It has become a trend to go live routinely on Instagram and Facebook to promote products and interact with the audience. It is an adequate move towards cultivating a robust brand value in the marketplace. With the evolving standards, media companies are now capable of streaming premium content with competent compression and less bandwidth handling.
Voice recognition
Voice Recognition technique is already gaining recognition in the gaming industry, and the real potential is yet to realize. In the upcoming years, we can witness the use of advanced microcontrollers and computers that make it possible to develop feature-loaded games where players don’t have to experience the hassles of scrolling the things. It is predicted that game lovers can use their voice for a particular option, which offers an excellent means to perk up UIs in gaming and make interaction easier than before on social media.
Wearables
Among all the new trends that the gaming and media industry will anticipate, Wearable technology is chiefly admired among all others. The businesses primarily started using Wearable technology for healthcare and fitness purposes. However, they are currently shifting their spotlight to using technology in the gaming industry too.
Conclusion
With all this, we can say that the competition in the marketplace is escalating. To take a position in this continuous space, brainstorming is needed. The latest techniques and trends backed by extensive content has boosted the competition in the market numerous folds. The gaming and media industries are tuning itself to keep meeting altering customer demands that have no end.
The speed at which technology trends are emerging, the gaming industry is facing new challenges every day. The advancements in technologies are making the job tough but, at the same time, helping in boosting the revenues. It is the best option to adopt these new trends and gain all the benefits linked with intensive tasks. Overall, we can say that it is a challenge for the gaming industry to survive the rapidly altering marketplace conditions; to grow, they need to focus on all the key trends important for growth.
