Video games, also known as the electronic games can played on computer devices such as PC (personal computer), console or mobile phone.
There are specific platforms such as computers, consoles, smartphones, tablets, social network games designed to run on these specific platforms. The first video game was emerged in the late 1970. Today’s video games offer a realistic graphics which greatly enhances the user gameplay and experience.In 1971, first arcade game was released in the market for computer platform. In the same year, video game company called Atari Inc.
released the first commercially successful video game called “Pong”, and its original version sold over 19,000 arcade units. Following the same year, another video game released the video game console called Magnavox Odyssey, which are both arcade and console games, dominated the gaming scene until a huge market crash in 1977. The crash came to the end with the success of Taito’s space invaders, which was released in the 1978, when the gaming industry was going in the way of a golden age of video arcade games. These games pushed arcade machines to the mainstream locations such as shopping malls, traditional storefronts, restaurants and also convenience stores during the golden age.
Space invaders sold over 360,000 cabinets worldwide, by 1982 and generated a revenue of 2 billion dollars in quarters.In 1980, arcade video game mechanics reached public in North America. This mechanics has generated 5 billion dollars, by end of 1981. In 1982, arcade video game industries has reached 8 billion dollars, giving huge a surprise to the entertainment sector. In the same year, pop music’s annual revenue was at 4 billion dollars, and Hollywood revenue was at 3 billion dollars, even after combining this two industries revenue they hadn’t touched the gaming revenue.
It was a surprise and shocking fact to all the other industries, that how people were attached to video games. Not just the arcade game cabinets, but also the home video game industry has generated nearly twice of its revenue, 3.8 billion dollars during the same year. Combining the revenue of both home and arcade game industries had nearly 11.8 billion dollars of revenue, of which arcade game generated 5 billion dollars. The success of Pac-Man launched in October 1980 (North America), was massive and ushered the gaming industry in to a new era. In 1983, the North American gaming industry crashed due to too many substandard video games, resulting in the fall of gaming industry, which forced developers to invent a new platforms. The released Nintendo Entertainment System (NES), which was a home gaming console, that had dominated the Japanese gaming market before its eventual release in North America, in 1985.
In 1990, with several advancements in computer technology the video game industry also evolved. Compact Disc based storage and software were also introduced to the market, which boosted computer game sales. Video games started using 3D graphics cards in personal computers to enhance the visual experience of the game with 3D models, textures and animationsIn 1990, the mobile gaming was born with the explosion of the internet, and developers decided to introduce online co-operative gameplay and thus paved the way for competitive gaming. World-wide sales of video games generated 19.
8 billion dollars in 1983, and by the first year it increased to 20.8 billion dollars. In just the North American continent, arcade gaming generated up to 7 billion dollars by 1994, and home console game sales generated to 6 billion dollars.
In the year the 2000s, new technologies, such as smartphones, tables, virtual reality(VR) and augmented reality(AR) have entered the gaming market. These technologies boosted the gaming industry market, mainly the smartphone market seen a huge success with the Indie gamers releasing games like Limbo. Also, social gaming revenue started seeing raise from the year 2007, with a massive success of games like Farmville, Mafia Wars, and Zynga Poker.
In the 2010s, Indie games have made a huge impact on game development in the market. Games such are Fez, Castle Crashers, Minecraft has gained huge number margin in gaming sectors with over a million users. Mobile gaming market was estimated at 38 billion dollars, compared to consoles with 6 billion dollars and while it comes to PC it was 33 billion dollars.