The financial and economic landscape has changed beyond all recognition since the great recession, with the result that while some industries have fallen by the wayside others have emerged and enjoyed considerable growth. Take the online and remote gaming sector, for example, which has exploded since 2010 and is set to deliver revenues of $182.8 billion by the end of 2015. This represents impressive growth of 9.2%, while further statistics suggest that the trend for expansion will continue beyond 2015 and at least until 2020.
The Rise of the Online Gaming Market: The Facts and Driving Forces
When you consider that the value of global, online gaming market was just $117.6 billion as recently as 2010, the compound annual rate of growth is particularly impressive. In terms of individual regions, the Latin American market will enjoy especially significant growth of 8.1% next year, as opposed to $6.2 billion in Canada. These are two of the largest growth markets in the remote gaming sectors, with Canada expected to unveil its first virtual casino website at some point during the next eighteen months. This will be introduced alongside established resources such as Caesars Casino, meaning that the market will become even more accessible to global consumers.
There are numerous reasons for this growth, with one of the most prominent being technological advancement. Thanks to concepts such as 4G connectivity and the development of game streaming services that enable users to share titles across multiple platforms, it is easier than ever for individuals to enjoy an immersive and responsive experience while online. In addition to this, the increased demand for online gaming is driving greater levels of regulation while also challenging existing perceptions, so that virtual platforms are being legalised in a growing number of regions such as the U.S. and Europe.
The Bottom Line for the Online and Remote Gaming Sector
The same principle applies in the Asia Pacific market, which may be seen as the growth engine for remote gaming in the next five years. This reflects the truly global nature of online gaming growth, and suggests that the market could expand beyond existing forecasts between now and 2020. Widespread economic growth will also impact on future growth, as consistent prosperity will encourage gamers to spend more while online.
Another key factor to consider is the rising trend for real-money gambling and live tournament play, which drive higher revenues and substantial profits for online casinos. With more stringent regulations and well-encrypted casino sites helping to create greater levels of trust between brands and gamers, players are increasingly willing to spend their hard-earned money and commit to their favourite titles.
The Rise of the Online Gaming Market: The Facts and Driving Forces
When you consider that the value of global, online gaming market was just $117.6 billion as recently as 2010, the compound annual rate of growth is particularly impressive. In terms of individual regions, the Latin American market will enjoy especially significant growth of 8.1% next year, as opposed to $6.2 billion in Canada. These are two of the largest growth markets in the remote gaming sectors, with Canada expected to unveil its first virtual casino website at some point during the next eighteen months. This will be introduced alongside established resources such as Caesars Casino, meaning that the market will become even more accessible to global consumers.
There are numerous reasons for this growth, with one of the most prominent being technological advancement. Thanks to concepts such as 4G connectivity and the development of game streaming services that enable users to share titles across multiple platforms, it is easier than ever for individuals to enjoy an immersive and responsive experience while online. In addition to this, the increased demand for online gaming is driving greater levels of regulation while also challenging existing perceptions, so that virtual platforms are being legalised in a growing number of regions such as the U.S. and Europe.
The Bottom Line for the Online and Remote Gaming Sector
The same principle applies in the Asia Pacific market, which may be seen as the growth engine for remote gaming in the next five years. This reflects the truly global nature of online gaming growth, and suggests that the market could expand beyond existing forecasts between now and 2020. Widespread economic growth will also impact on future growth, as consistent prosperity will encourage gamers to spend more while online.
Another key factor to consider is the rising trend for real-money gambling and live tournament play, which drive higher revenues and substantial profits for online casinos. With more stringent regulations and well-encrypted casino sites helping to create greater levels of trust between brands and gamers, players are increasingly willing to spend their hard-earned money and commit to their favourite titles.