Is Gaming a Big successful Industry?

Yes ofcourse, gaming is a very big industry. 

According to the Global Games Market Report by Newzoo, the global gaming market was valued at over $175 billion in 2020, and is expected to continue to grow in the coming years.

 The industry includes a wide range of games and platforms, including console games, PC games, mobile games, and virtual reality (VR) games. 

With the increasing popularity of esports, the industry is also seeing a growing number of professional players and teams, as well as large-scale gaming events and tournaments.

eSports - Future Digital Gaming Initiative 

eSports (also known as electronic sports or competitive video gaming) is considered to be a rapidly growing industry with a lot of potential for the future. The global eSports market has been experiencing significant growth over the past few years and is expected to continue to do so.

There are several reasons why eSports is considered to be the future. First, the popularity of video games continues to grow, with an increasing number of people playing and watching video games. Second, the rise of online streaming platforms such as Twitch and YouTube has made it easier for people to watch and participate in eSports events.

Additionally, the COVID-19 pandemic has accelerated the growth of eSports as more people turn to online gaming and entertainment while practicing social distancing.

Revenue from Digital Gaming

The overall revenue from the digital gaming industry has been steadily increasing over the past few years. According to a report by Newzoo, a market research company specializing in the gaming industry, the global games market generated $174.9 billion in revenue in 2020, representing a 19.6% increase from the previous year.

The report also predicts that the global games market will continue to grow, with estimated revenues of $217.9 billion in 2023. This growth is being driven by a variety of factors, including the rise of mobile gaming, the increasing popularity of eSports, and the introduction of new gaming technologies like virtual reality.

The Asia-Pacific region is currently the largest gaming market, accounting for 49% of global game revenues in 2020. North America is the second-largest market, accounting for 28% of global game revenues, followed by Europe, the Middle East, and Africa (EMEA) at 23%.

Overall, the digital gaming industry has become a significant part of the global entertainment industry and continues to offer a wide range of opportunities for developers, publishers, and investors alike.