The gaming industry is one of the most mercurial and fast-paced areas of the entertainment sector. Innovation, novelty and continual development are inherent features of the gaming industry.
If you compare the expensive console games of 15 years ago with today’s massive multiplayer online (MMO) games which are free to play and ever-changing, you can see just how much the entire industry has innovated and changed. Technological innovations have truly revolutionized the gaming experience — and widened the gaming community as a result.
Graphics, audio and technological development
Anyone who has followed the gaming industry for the last decade is aware of the great leaps in technological development and innovation which the industry has experienced. The gaming industry has grown in popularity immensely, and the gaming community is fairly open minded when it comes to new types and forms of games. This has given the industry the financial backing and community support needed to develop and launch innovative games and technologies.
Whether it is new consoles like the PS5 or hyper-realistic graphics and audio, the industry has continually developed and launched new and exciting products. New types of games such as MMO games have revolutionized the industry by showing just what is possible and how flexible the business model really is.
In fact, the gaming industry has ushered in new types of monetization, such as the subscription model and the in-game purchases model. These new types of monetization are much more accessible, as they are much more affordable than classic PC and console games.
Streaming and live digital experiences
One of the biggest innovations in the gaming industry has been the rise of streaming and live experiences online. Streaming platforms, such as Twitch, allow gamers to live stream their daily game play, chat with fans, and also — perhaps most important of all — monetize their playing.
Streaming has been slowly growing in popularity over the course of the last 10 years, but the global health crisis of the last year and a half cemented its place in the gaming industry. Millions of fans now regularly log on to watch and interact with their favorite streamer and other fans. This has created a digital community around the world and greatly helped many people to ease the social isolation which the global health crisis created.
Hybrid streamed and live events
Another form of live streaming which has revolutionized the space over the course of the last few years has been in a slightly different sector in the gaming industry — online gambling. Many of the best online casinos, which sites like BetSpin.com can help you find, offer a wide selection of live casino games for gamblers to choose from. These live games allow gamblers to essentially play their favorite casino table games, such as poker, blackjack and roulette, with a dealer who is live streaming the game.
The rise of live casino games has revolutionized the industry, because it gives gamblers the feeling that they are on a bustling casino floor and able to engage with dealers and their fellow gamblers. These types of hybrid live and digital events are likely to become increasingly popular across various sectors and for a wide variety of different activities, including professional sports. The rise of hybrid and live games and activities increases accessibility to events, activities and games around the world.
VR – the next (virtual) frontier?
The fast pace of change in the gaming industry means that gaming companies are always innovating in order to stay ahead of the competition and remain innovative, interesting and attractive to millions of gamers. Although it is difficult to discern which direction the market will go, market researchers and analysts are predicting that Virtual Reality (VR) and Augmented Reality (AR) could be the next big innovation to hit the gaming industry.
VR and AR are technologies which have been around for a while but have not quite caught on for the mainstream gamer audience. There are a number of VR arcades in large cities and most of us have tried putting on a VR headset and wiggling around. As of yet, the VR and AR technology has been somewhat limited as it is still under development.
As a result, the in-game feeling and movement has been limited, uncomfortable and awkward for many — if not most — VR games and applications. That being said, it now looks like the technology and digital infrastructure for good-quality VR and AR games is developing and that this technology could be the next new thing in the world of gaming.