Gaming Industry from Economic Perspective: Sponsored Content
ne of the basic factors of the industry of any country is its industry. Agriculture produces the raw materials and industry refines them to make them usable. Due to this, the industry helps in the employment of the countrymen and boosts the speed of the wheel of the economy. Among several types of industries, the Software and Information Technology is one of the best gainers to fill up the foreign currency stock of the country. The gaming industry also comes under this and it has put a very deep impact on the economy of the country. It has contributed to a growth of almost 4 times in the last 10 years in its share of the economy. The economists have indicated this as one of the fastest-growing industries.
A Vertical Organization
The rise of video games has started during the last 2 or 3 decades of the 20th century. But since then they have developed in rocket speed. The popularity increased drastically not only among the kids but among the teenagers also. Keeping the demand for competitive games, the developers developed such games one after one. Now you can see professional gamers participating in the competitions. 20 years back no-one could have imagined that computer gaming can be a popular way of earning for some people.
The video games don’t just get installed into your personal computers but there are lots of other manufacturing industries indulged into it. Manufacture of hardware, development of games in studios, publishers of the game, distributors, and retailers of it are closely interrelated with each other. So a game not only gives you the material of your amusement but it also helps to earn life. Since the online trading platforms have gotten prevalent, many of the small scale game manufacturing companies are taking the opportunity to bring their games in front of the game lovers. Many of the gamers make their library of their favorite games and they have got engaged in comprehensive social activities.
The Size is Not at All Negligible
The size of an industry is measured by the worth of the production in a specific time period. The search in Google resulted in more than 1 lakh and 53 thousand separate and independent industrial units who are engaged in developing games which yields almost 64.9 billion USD in the year 2014. A study report of PWD revealed that the gaming industry is going to grow almost by 10% during 2013-2018.
New Distribution Channels
The old distribution channels were replaced by new ones like online sites of gaming. This was very humbly accepted by the new generation people as they don’t have to roam around and search for new games here and there. Some of the small scale studios develop games in a very tight budget and thus they don’t put that much state of the art visuals and graphic designs. But people who love to enjoy real gaming experience mostly prefer these games rather than those containing stunning visuals.
Huge Cost Surge
In the 90’s the games used to take a lot of time and hard work by the teams of designers. The costs used to get high as the technology was not that apt. Musical backgrounds and licensing costs used to be very high. But in the modern industry, the costs of all these don’t bother that much as teams of dedicated designers work on these and you can assemble the different aspects of the game after they get developed by different developers. Previously the games used to get obsolete after some months or years after launching. But now the approach is more professional as they give a demo of the upcoming moderations on the game or its next version to keep the interest arrested.
Shift of Revenue
The gaming industry is going to touch an amount of more than $300 billion by the year 2025 where they will have almost 2.5 billion gamers all over the world and profit of billion dollars. Though the main source of revenue in the gaming industry comes by selling the games to the gamers the source of revenue is now shifting from it to the online trading of virtual instruments of the games like the skins in Skinwallet.com. Some of the most common virtual in-game instruments are the cars, outfits of the characters as well as the weapons, and these are traded for real money.
The Revolution of Video
The games can be only enjoyable if the videos of it will be clear and noise-free. The videos are developed in the PDP 1 computers which are useful to make videos like real films and not like the cartoon surroundings. The new-age video dimensions have changed the gaming experience and thus the gamers are getting more interest in playing and buying the games.
As the gaming industry is growing day by day and it is taking the whole world as its market place, so many countries, especially the USA, have made new rules and tax regulations for the gaming industry. Since you can earn also by playing the games, many new people are showing interest in the gaming industry to play games. The online platforms also have played a major role which has opened a window of opportunity to get the games as soon as they are available in the markets. From the selling of the games and other in-game equipment, the firms are earning a lot and thus the economy of the country is getting strong.
Creation of a Large Number of Jobs
Now last but not least, the gaming industry has created lots of jobs for the young aspirants. Those who know little about gaming and programming can create a game sitting in their labs and can upload them to the online platforms. Not only this, but the big game developing houses also employ or hire professional developers or programmers to develop games and parts of games. The young graduates are getting jobs in those companies and are contributing to the economy of the country.