From vintage online slot machines and video poker games to online casinos, the industry is foreseen to grow even more in the coming years.
One of the most stunning gaming industry trends in this industry is the move toward virtual reality gaming. This technology will allow players to fully immerse themselves in an online casino game, providing a realistic experience that will be much more engaging than traditional slots and video poker games. From Fortnite with Ariana Grande to South by Southwest in Minecraft, virtual reality is united with the real world turning both into unforgettable adventures.
iGaming is a rapidly growing industry with the potential to offer a wide range of benefits to players. The mobile gaming expansion is expected to make the global gaming industry worth $321 billion by 2026, according to PwC’s Global Entertainment and Media Outlook 2022-26. Currently, there are an estimated 1 billion online gamers worldwide. The growth in iGaming will be driven by advances in technology, which will provide consumers with more personalized gaming experiences and a greater number of games. Additionally, the industry will also be fueled by increasing consumer awareness and acceptance of new games, as well as the growing number of people who are turning to iGaming as an alternative to traditional forms of gambling.
2021-2022 Gaming Trends Review
In 2021, the gaming industry was on the verge of a major shift. The process has become a much more social experience, with the rise of streaming and live broadcasting, especially in eSports. The rise of mobile gaming and esports has led to an increase in the number of gamers, as well as games, on the market.
These mobile gaming trends have forced companies to innovate and find new ways to continue to produce games that will keep players engaged. That is why iGaming has enhanced the number of online advertisements around mobile games.
AppAnnie predicts global mobile ad spending will reach $350 billion in 2023. Advertising draws more players and helps developers get more profit from gaming production. Around 40% of US gamers make in-app purchases, according to Statista. And in-app purchases have been completed by 62% of mobile players under the age of 13, as was mentioned in the Finances Online report.
AppMagic insists that the PlayerUnknown's Battlegrounds game, better known as PUBG, gathered $2.01 billion in 2021. It is the best-selling PC game of all time, with over 70 million copies sold worldwide. As gaming continues to grow, so does the need for people who can help design and produce games for this new generation.
There will be 3 billion active gamers by the end of 2023, according to SportHiatus. Let’s analyze how and why it may happen.
VR started to develop due to the metaverse influence
The gaming industry is always changing and adapting to its consumers. In 2021-2022, the gaming industry was more connected with VR than ever. The future of gaming is already being shaped by the metaverse, which is an in-game virtual world that allows players to interact with each other. According to Newzoo, 50% of Gen Z, 37% of Millennials, and 28% of Gen X players are already hanging out in-game worlds without actively playing the game.
With the introduction of VR, there are some ideas for what the future of gaming will be. Virtual reality has given gamers a sense of immersion and made them feel like they are really in the game. According to SaaS Scout, more than 50% of gamers already play mobile games while in the bathroom.
There are also some ideas for what the future of gaming will be with a focus on more multiplayer experiences.
eSport gaming was at the top
eSports had been around for a while but it wasn't until recently that it started to boom. The first game to make eSports popular was League of Legends. It was the first game that allowed players to compete against each other online. Other games like DOTA 2 and Counter-Strike: Global Offensive have also turned out to be very popular. eSports has become more widespread due to the rise of streaming platforms such as Twitch, which has enabled gamers to broadcast their gameplay to millions of viewers around the world. Streaming trends show that Grand Theft Auto V was the most streamed game on Twitch in November 2021, with over 20% more streamlets analogized to League of Legends at the second place.
The world was quickly turned into a digital battlefield where players could fight each other on their computers. These current gaming trends became so big that they even made their way into the Olympics where you can win enormous funds. The 2019 Fortnite World Cup Finals boasted the largest prize pool in Esports. The solo and duo events combined for a prize pool of $30.39 million. In 2020, TSM was sentenced to be the most valuable Esports organization, worth approximately $410 million, according to Forbes.
Increase in the interest in retro and indie games
The gaming industry has gone from the days of Space Invaders and Pac-Man to the latest trends in games like Fortnite, Minecraft, and Overwatch. Gaming has come a long way and is constantly changing.
The latest trend in gaming is the increase in interest in retro and indie games. The interest in retro games is due to the rise of retro gaming consoles such as the Nintendo 64 and PlayStation 4. Since its release in March 2017, the Nintendo Switch has sold 107.6 million units. Popular franchises such as Super Mario, The Legend of Zelda, and Pokémon are all exclusive Nintendo properties.
Indie games are also becoming more popular because they offer a variety of different genres and are usually less expensive than other games. In 2021, the average gamer will spend more time playing indie games than AAA titles. The most widespread online slot games are Starburst – with a likelihood of a triumph at 22% and Mega Moolah which had a payout record of €18B.
Minecraft is one of the most popular indie games on the market. It is a sandbox game where you can build and destroy anything you want. The game is currently available on Windows, Mac, iOS, and Android. You can create your own world in the game and share it with other players. The game has sold over 144 million copies since its release in 2009.
There are many reasons for this trend, including the rise of digital distribution, the popularity of digital content, suitable gaming payment solutions, and the growth of mobile gaming.
iGaming Trends for 2023-2024
We anticipate that the global iGaming market could grow to $81.09B in 2023 at a compound annual growth rate (CAGR) of 10.5%, and $104.5 billion by 2028. This is a significant increase from the $20.7 billion in revenue generated in 2017. The number of global iGaming players will also increase to 593 million by 2024, which is an increase from the 454 million players in 2017. The rise in player numbers will likely lead to increased revenues and better customer satisfaction rates. In addition, the market is expected to see an increase in the number of female players and mobile gaming revenue.
Continued growth in VR technology development
Technology has always been a driving force in the gaming industry, and virtual reality is the latest and greatest innovation to enhance the player experience. Online casinos and sports betting platforms are quickly adopting VR technology to give their players a more immersive and realistic experience.
With VR, players can now be transported to a virtual casino or stadium and feel like they are right there in the action. They can interact with other players and NPCs, and get a realistic sense of the environment around them. This level of immersion is sure to enhance the player experience and make for a more enjoyable gaming experience overall.
VR technology will continue to improve and become more accessible. In 2023, the first-ever VR headset with a built-in computer is promised to be released. These developments will lead to an increase in the number of people who own VR headsets and an increase in the amount of time people spend playing VR games.
Greater use of blockchain technology
Forbes interviewed the CMO of Bitbook, a crypto casino that has launched its own token, Filip Poutintsev, and he mentioned:
As the online gambling industry continues to grow, so does the need for improved security and transparency in transactions. It is estimated that 64% of US adults play video games every day, according to Entertainment Software Association. All these people need secure transactions. Blockchain technology offers a solution to this problem, as it offers a secure and transparent way to conduct payment in gaming. Video games incorporating elements that employ blockchain technology founded on cryptography are known as "blockchain games" (also known as "NFT games" or "crypto-games"). Multiple AAA publishers want to use so-called "play-to-earn" games, that let players earn bitcoin via gaming. There are numerous play2earn games accessible, and new games like Alien World and The Sandbox appear every week, much like mushrooms.
The use of blockchain technology in online gambling transactions can help to improve security by providing a tamper-proof record of all transactions. This would allow for each transaction to be checked and verified, making it more difficult for fraudulent activity to take place. In addition, the use of blockchain technology would also make it easier to track and trace gaming payments, making it easier to identify and prosecute those who are engaging in illegal activity.
The transparency that blockchain technology offers would also be beneficial to online gaming payment services. With all transactions being recorded on a public ledger, it would be much more difficult for casinos and other gambling operators to engage in fraudulent activities. This would create a more level playing field for all participants, and would ultimately lead to a more fair and transparent industry.
The use of blockchain technology in online gaming payment processing can help to improve security and transparency. This would create a more safe and more secure environment for all participants, and would ultimately lead to a more fair and transparent industry.
The continued growth of mobile gaming
There is no doubt that mobile gaming is on the rise, with more and more people using their smartphones and tablets to access online casinos and sports betting sites. This trend is only set to continue, as the convenience and flexibility of mobile gaming mean that it is increasingly popular with players of all ages and backgrounds. Some gambling statistics show that around 26% of the world’s population gambles.
What this means for the future of online gaming is that we can expect to see even more growth in the mobile sector. According to data from 31% of parents, the mobile game their kids spend the most on is Fortnite. This could include more dedicated mobile apps and sites, as well as more casinos and sports betting operators offering kids mobile-friendly versions of their offerings and secure gaming payment solutions.
Of course, this is all good news for players, as it means more choice and convenience when it comes to accessing their favorite games. So, whatever the future holds for mobile gaming, it is sure to be an exciting and growing sector of the industry.
Increased focus on responsible gambling
There is no question that gambling can be addictive. And while some people are able to gamble responsibly, for others it can quickly become a destructive force in their lives. According to the survey, people who gamble online are twice as likely to have gambling problems. That's why it's so important for there to be more emphasis on responsible gambling, with more operators implementing tools to help players manage their behavior and prevent addiction.
There are a number of different things that casinos and other gambling operators can do to promote responsible gambling. For example, they can offer self-exclusion programs that allow players to ban themselves from gambling temporarily. They can also provide information and support to help players control their gambling.
Ultimately, it's up to each individual to gamble responsibly. But if more operators took measures to promote responsible gambling, it would undoubtedly help to reduce the problems associated with gambling addiction.
The emergence of new forms of online gambling
As the online gambling industry continues to grow, we are seeing more and more new formats of gambling emerge. One of the latest trends in skill-based games, which are becoming increasingly popular as people look for ways to gamble that require more than just luck. Some of the more popular games include chess, Sudoku, checkers, chess, and Scrabble. Some of the less popular games are crossword puzzles, word search, and hangman. In North America, 22.08% of mobile gaming revenue in Q2 2021 came from puzzle games, according to GameRefinery.
Cross-platform mobile apps have grown in favor in recent years:
- 21% of Android and 25% of iOS apps downloaded are mobile gaming apps. (Earth Web)
- Google Play will drive 71% of its revenue from mobile games by 2025. (Sensor Tower)
Esports betting is another area that is seeing a lot of growth, as more and more people are interested in placing bets on competitive video gaming. This is a relatively new phenomenon, but it is one that is sure to continue to grow in popularity.
Payment Trends In the Gaming Industry: Corytech’s Vision
In recent years, the gaming industry has seen a significant increase in the number of gaming payment gateways. With the advent of new payment options, the gaming industry has seen an increase in revenue. However, for those who are still relying on traditional payment methods such as cash and credit cards, the industry has seen a decline in revenue. Corytech believes that the future of gaming is digital, and they are committed to creating a platform that will allow players to pay with cryptocurrency. With their vision, they hope to see a future where digital currency is the norm and traditional payment methods have become obsolete.
Increased use of mobile payments
The mobile gaming industry is booming, and with that comes increased use of mobile payments. More and more gamers are using their mobile devices to make in-game purchases and deposit funds into their gaming accounts. 66% of mobile gaming spending in 2020 came from core games, 23% from casual games, and 11% from casino games, according to this report from AppAnnie.
There are a few reasons for this shift. First, it's convenient. Players can make purchases and deposits anytime, anywhere. Second, it's safe and secure. Mobile payments are typically processed through secure, encrypted channels. Finally, many mobile gaming payment portals offer rewards and bonuses, which can sweeten the deal for gamers.
Rise of digital currencies
Digital currencies are on the top, and gaming platforms are taking notice. Over the last decade, cryptocurrency has gone from an overlooked asset to a wildly popular investment. More and more gaming payment service providers are accepting cryptocurrency as a form of payment, and this trend is likely to continue.
According to this Medium article, 55% of Millennial gamers own cryptocurrency and 80% of this group are curious about using crypto to drive transactions within the game. Why? Cryptocurrency is fast, secure, and convenient. Players can make transactions quickly and easily, without having to worry about the hassle of traditional banking methods. Only 1 in 6 content developers say they partake in a seamless payout experience.
What does this mean for the future of gaming? We can expect to see even more platforms accepting these instant gaming payment methods, and this will open up a whole new world of possibilities for gamers. We'll be able to easily buy, sell, and trade our favorite games and items. So get ready for the rise of digital currencies in the gaming world!
Growth of alternative payment methods
The gaming industry is rapidly growing and evolving. As the industry expands, so do the payment methods available to gamers.
In the past, most gaming platforms only accepted credit cards as a form of payment. However, we're now seeing a trend toward alternative payment methods, such as e-wallets, prepaid cards, and bank transfers. This shift is likely due to the fact that gamers are becoming more diverse in terms of age, location, and income. Credit cards aren't always accessible or convenient for everyone.
Alternative payment methods give gamers more flexibility and choice when it comes to gaming payment facilitation for their gaming products and services. We expect to see this trend continue as the gaming industry continues to grow.
Increased use of biometric authentication
As online gaming becomes more popular, so does the need for increased security measures. One way to improve security and reduce fraud is through the use of biometric authentication methods, such as fingerprints and facial recognition.
Biometric authentication is more secure than traditional methods, such as passwords, because it is difficult to fake. This makes it ideal for gaming platforms and gaming payment portals, which are often targets of fraudsters.
Fingerprints and facial recognition are the most common biometric authentication methods used today. Gaming payment services that adopt these methods will be able to improve their security and reduce fraud.
Greater emphasis on player data privacy
As the regulation around data privacy continues to tighten, gaming platforms are under pressure to make sure they are compliant. This means ensuring that player data and payment in gaming are well protected.
One way that gaming platforms are doing this is by increasing the emphasis on data privacy. This includes ensuring that player information is not shared without their consent and that any data that is collected is properly secured.
By taking these measures, gaming platforms can help to ensure that players’ data is safe and secure. This, in turn, will help to build trust and confidence in the platform.
iGaming trends FAQ
Will interest in indie games continue to grow?
Yes, indie games are a growing trend that has been steadily increasing in popularity over the past few years. These games are made by independent developers and are not released by big companies. They are also typically more creative than traditional video games and have more room for creativity.
Will cross-platform games still be popular?
The answer is yes. Developers are always looking for ways to make their games more accessible and with the introduction of new technologies, developers will be able to make games that work across multiple platforms. These cross-platform games will allow people who play on PCs and consoles to play against each other.
What’s new in esports?
There has been a huge surge of interest in esports in the past few years, and this trend is only expected to continue. With more people playing games at home and watching games on TV, the demand for better content is rising. In response, many companies have invested in creating new ways to watch esports. For example, YouTube recently announced that they are partnering with Riot Games to create a new YouTube Gaming site. The 2022 Asian Games will introduce Esports. Someday, Esports will become one of the Olympic sports.
In the past few years, online gaming has become a very popular activity. The trend is not slowing down either, with more and more people trying to make a living playing games. Watching trends in gaming is vital for staying on top. You have to stay up-to-date with what your competitors are doing and how they are doing it. You also have to keep track of what new games are coming out so that you can adapt to them and stay ahead of the competition. You also have to be aware of the different ways people are playing games these days and what they like.
Corytech is a revolutionary platform that helps businesses make their first steps into the digital world. It provides a wide range of features that help businesses stay up to date with the latest trends and technology and also provides a highly secure and scalable solution for their business. Corytech offers an intuitive interface that is user-friendly and accessible to all users of the platform. With a fully-featured platform that includes powerful features such as an integrated payment system and eCommerce integration, Corytech is the ultimate solution for any company looking to enter the digital world. Request a personalized demo to see how Corytech can help you.