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Current status of the Gaming Industry

The global gaming industry is currently valued at about 100 Billion dollars annually, as compared to to ten years ago when it was 9.5 Billion dollars annually. There has been a steady increase in sales year on year with new records being set every year, and developments in the gaming industry are just starting to get interesting, so it is no surprise more and more people want to become game developers.

The latest craze to be hitting the mass markets is without a doubt the evolutionary Virtual Reality gaming systems currently on sale. VR has been around for many years with SEGA bringing out a VR headset for the Mega Drive console in the early 90’s, it has only now started to hit the mainstream with companies like Sony, Microsoft and Facebook taking it to the next level for the best home gaming experience available.

With gaming consoles from Sony and the relatively new Xbox making up the majority of sales in the gaming industry, these gaming consoles revolutionized the gaming industry for ever. Low cost and high specs make these gaming consoles available to most people in the world. The ease of use and the many game titles on offer make this an attractive option when looking for a gaming system.

Lets not forget the mobile gaming industry, with the introduction of high end smartphones with hardware specifications that would make some computers look old, gaming has become a mainstay for smartphone users. Some people will say that the gaming industry has stagnated, but the figures say differently and it will be interesting to see what new developments will be coming our way in the near future as companies jockey for market share.

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