BCC Research Blog | Industry Analysis and Business Consulting

The video games industry is still growing - but why?

Written by Olivia Lowden | Aug 25, 2023 1:00:00 PM

To say video games are popular is an understatement. There are estimated to be around 3 billion gamers in the world. The video gaming industry is among the fastest-growing segments in the entertainment business, and BCC Research anticipates the market to reach a whopping $473.7 billion by 2027. No small numbers here.

Evidently, the video gaming industry is of enormous proportions. But staggeringly, it’s a trend that’s set to continue. There are several reasons video gaming is becoming increasingly popular – today, we’re diving into them.

Increasingly creative games designs

In 60 years, video games have evolved from interactions with simple geometric shapes to full blown cinematic experiences. Nowadays, games blur the lines between reality and fantasy. Graphics are becoming increasingly high-resolution, and as technology improves, so will visuals. Soon, loading screens will become a thing of the past, and transitions shorter and more fluid.

Over the next few years, video gaming hardware will experience major updates, allowing for more creative game design, more immersive graphics, and an enhanced overall experience. As technology improves, gamers will continue to invest in new games and consoles – and new gamers will also enter the mixer.