Online gaming has become a dynamic industry that goes beyond the level of mere entertainment.
Over the past few years, online gaming, especially the shuffle card games industry, has witnessed tremendous growth.
What once was just an underground movement has since risen to become a worldwide sensation boasting millions of players and an all-embracing community.
Over the past couple of years, online gaming has rapidly proliferated in India.
However, this explosion is unprecedented, leaving a treasure trove for businesses within or outside traditional gaming to profit.
The Rise of Online Gaming
Over the past decade, the online gaming industry has seen explosive growth, which is mainly attributed to technological advancements.
It has turned out to be a part of the mainstream, played by people from all walks of life across the globe.
The global online gaming market will grow beyond $200 billion by 2024, with mobile gaming, esports, and cloud gaming services like Google Stadia supporting this growth.
Market Segmentation
1. Mobile Gaming
A key growth engine for the sector as more and more people play games on smartphones and tablets.
2. PC and Console Gaming
Mobile gaming is developing fast, yet PC and console gaming are still lucrative marketplaces with established communities of core gamers.
3. Esports
Another sector that has emerged is pro-gaming, where professional gamers have started competing in tournaments for huge cash prizes.
It brings international visibility, with a global audience as well as sponsorships and media rights to exploit.
This opens up many opportunities for companies to tap into the uptick in gaming demand with a global, diverse set of segments.
How Online Gaming Can Boost Your Business Revenue
Increased User Engagement
The addictive quality of a good game brings users back again and again — something business can leverage to increase revenue.
You can improve overall customer engagement and loyalty by incorporating gaming-based functionality (leaderboards, challenges, rewards) into your business model.
New Revenue Streams: In-Game Purchases and Virtual Goods
In-game purchases plus the sale of virtual goods are extremely direct forms of business in terms of how online gaming can deliver profit.
Microtransactions, also known as in-app purchases, are a new trend that lets players buy items such as cosmetic upgrades or characters in free-to-play games.
Many new revenue streams have been introduced in online gaming.
Moreover, in money making games there’s a unique revenue model where developers imply high charges to users when they bet.
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Advertising Opportunities
It has major advertising potential for businesses to go into online gaming.
In-game advertising enables companies to more accurately target their ideal demographic, as millions of users use the app daily.
Subscription Models and Premium Content
These models typically leverage premium content, exclusive features, and other rewards with a monthly or annual charge.
When it comes to businesses, implementing a subscription-centric model can do wonders for revenue expansion as you start generating steady and prolonged income.
Monetization through Esports
Esports is a multibillion-dollar industry, with viewership numbering in the millions for spectators watching professional gamers go head-to-head.
This has prompted businesses to sponsor esports events or teams, meaning the opportunity to promote to a captive audience is even more exciting.
Building Brand Loyalty
Unlike any other media, gamers get into the games they play which in turn allows brands to cultivate loyalty.
So, that’s all we have for you on how online gaming boosts your business revenue growth. We hope that this guide has helped you.
