Interactive
EGAMING OUTLOOK AFFINITY GROUP - IOM
strong regulatory framework, such as the Isle of Man, are at the forefront of the industry.
Live streaming is another popular channel amongst gamers which has driven industry performance. Online gaming platforms such as Twitch received over two billion views in an hour and the European Business Review has ranked game streaming as the most prominent trend in 2021.
Live streaming also provides gamers with competitive rewards such as large, cash prizes, in 2019 the Fortnite World Cup prize pool surpassed $30m. Market research has outlined that streaming is the future of the gaming industry and mobile gaming is leading this movement.
Mobile streaming, which is still emerging, has significant growth potential by providing gamers with seamless accessibility; no consoles are required, simply a connection to the Internet. Mobile gaming has spread across the globe and continues to grow in popularity,
half the total revenues in the gaming market by 2021 and Gaming companies are harnessing this by new monetising strategies. Rewards, advertisements and various payment methods are all providing gaming companies with multiple revenue streams.
Gaming companies are taking advantage of the accessibility in the mobile gaming market to reach a wider audience by producing games that are free to download.
Te introduction of the payment method, In App Purchases (IAP), allows gaming companies to create revenue whilst the gamer is playing. Gamers can purchase virtual goods such as tokens or coins which they can trade or win off each other, which increase their game level.
Gaming companies are also using subscriptions as a new payment method. Some have also introduced in-game advertisements where gamers can earn points to pay for IAP by watching the advertisements, benefitting both the gamer and the company.
Te breakthrough of cryptocurrencies has also entered the gaming market, providing players with another payment option. Gaming companies recognised the success of Bitcoin which offers consumers further accessibility and diversification in the gaming market.
Gaming companies are also benefiting from the de-centralised nature of the blockchain which has proven its benefits for both the company and the player. Data is stored relevant to the game-on chain and the code can be investigated to demonstrate it has not been manipulated.
Market research suggests that the eGaming sector continues to thrive and companies are continuously developing more games that can provide players with further innovation, engagement and diversification.
Te crypto market is also driving the eGaming market through gambling and betting. An example is Luckbox, an esports betting platform that supports cryptocurrencies in the Isle of Man. Companies are adjusting to these new
The breakthrough of cryptocurrencies has also entered the gaming market, providing players with another payment option. Gaming companies recognised the success of Bitcoin which offers consumers further accessibility and diversification in the gaming market. Gaming companies are also benefiting from the de-centralized nature of the blockchain which has proven its benefits for both the company and the player. Data is stored relevant to the game-on chain and the code can be investigated to demonstrate it has not been manipulated.
entrepreneur India has stated that 85 per cent of online gaming in India is through mobile gaming.
Te Indian market is the fastest growing, recognising that smartphones are the most accessible to the masses. China has announced that by 2025 Beijing will be the international online games capital and research has demonstrated that 5G is at the forefront of the mobile gaming sector and supporting virtual reality in China. An example is Migu Quick Gaming, a branch of the telecom provider, China mobile that has created 5G VR cloud gaming.
Mobile games have been identified as the third most popular app type and this popularity is continuously increasing the competition between gaming companies.
Mobile gaming is expected to achieve more than P76 NEWSWIRE / INTERACTIVE / MARKET DATA
Innovation in technological advances such as cloud sharing, augmented reality and virtual reality have also been recognised as trends leading the gaming sector in 2021.
Game developers are recognising these innovative advancements and increased level of diversification and competition.
Gaming companies that provide consumers with virtual reality are transporting them to another world and are creating games that are infectiously engaging and exciting.
Cloud sharing provoked a break-through in the industry and companies such as Google and Microsoft are providing consumers with a cloud game streaming service which allows gamers to stream games over the internet by using software from a remote data centre.
consumer behaviours that are dominated by technology and meeting these demands with new innovative ways to enhance their service offering to the next level. Jurisdictions such as the Isle of Man are benefiting by providing companies with the opportunity to operate with their gold-standard licence and robust regulations.
Te island is currently handling an unprecedented volume of new applications and we at Affinity, as of mid-January, have eight new confirmed applications for 2021.
Te island’s approach to innovation and eagerness to grow and develop as the industry evolves has put us in an excellent position. Te island continues to play a vital role in shaping the future and is providing these ambitious companies with means to meet their maximum potential.
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