Those who predicted a drop in demand for this industry following the end of COVID-19 were erroneous, as there was no appreciable decline in global demand for electronic games after the substantial improvement in the age of the pandemic.
Contrarily, Hollywood movies and actual sports were less inclusive and less well-liked during this time than video games.
Sales of PC and console games had a little dip around that time, which may have been caused by a shortage of components for manufacturing hardware.
More than a third of the $93 billion in revenue generated by the game industry in 2021 came from mobile games. This amount is anticipated to expand by 18% in 2023, surpassing $100 billion.
This exponential growth has drawn a lot of investors, and many investment funds have looked for gaming companies around the globe to invest in and profit from this rising trend.
One such fund is the Swedish portfolio “Steelfront,” which looked for emerging gaming companies with its investment bank before purchasing Jawaker Games in our Arab region for $200 million. In the meantime, mergers and acquisitions are still taking place in this business.
No one can anticipate when this expansion will slow down, so for the foreseeable future, this sector will continue to generate a lot of employment
The world has not yet seen widespread adoption of 5G technology, and the locations it has reached are still quite small. It is yet unclear when gamers will be able to use it on their mobile devices.
This will result in speedier content loading for video games, which will excite gamers by allowing them to play heavier games and more elaborate stages on their mobile devices.
Additionally, you'll be able to play multiplayer Smartphone games without difficulty thanks to the connection's increased reliability and reduced jitter. Everyone will be inspired to keep working to develop this sector as a result.
The development of cloud games will also take longer due to the aforementioned tech sector slowdown, which we hope will end soon. Increasing speeds will also have an impact on an improvement in cloud capacity and services.