Online Gaming: The Rise of a Multi-Billion Dollar Industry
From tabletops to virtual reality, how we play games is changing with the times.
In just a few short decades, the world of online gaming has exploded in popularity. Estimated to reach $196 billion in revenue by 2022, it is now considered to be one of the fastest growing industries on the planet.
The infographic above explores the humble beginnings of the online gaming market and dives into the technological possibilities driving its future.
The Birth of Online Gaming
Although video game prototypes were created by scientists as early as the 1950s, the very first gaming console was not introduced to consumers until the ‘70s. Subsequently, use of online games began to proliferate in the ‘90s as a result of widespread internet adoption.
- 1990s: Online gaming rapidly gains popularity due to the increasing availability of the internet
- 2003: Digital storefront Steam launches, allowing gamers to buy and review games online
- 2004: World of Warcraft launches, the first massively multiplayer online (MMO) to eclipse more than 10 million active subscriptions
- 2007: Online gaming starts shifting to mobile
- 2009: Minecraft launches and becomes one of the best selling video games in history with 176 million copies sold
- 2009: Apple announces In-app Purchase feature for iPhone apps
- 2015: 1.5 billion gamers around the world
- 2016: Augmented reality game Pokémon Go is launched, generating the most revenue grossed by any mobile game in its first month.
- 2019: Google releases Stadia, a cloud gaming service that allows gamers to play without a console
It is clear that technological innovation plays a huge role in fueling the evolution of online gaming, but there are also several other factors at play.
The Components of Online Gaming
In the world of gaming, there is often confusion between commonly used terms such as “online gaming” and “esports”—when in fact esports is just one segment that sits within the enormous online gaming ecosystem:
- Distributors and Retailers: Platforms that distribute and sell games
- Streaming Services: Services that allow users to livestream games
- Hardware Developers: Companies that build the electronic infrastructure required to play games
- Gaming Arenas: Venues that host gaming events
- Esports: Organized, multiplayer video game competitions, typically between professional players
- Software Developers: Develop applications that allow users to do specific tasks
- Game Publishers: Companies that finance and distribute games
- Game Developers: Studios that develop games
This ecosystem creates dozens of revenue streams for the industry as a whole. For every one of these channels, the shift to mobile gaming presents significant opportunities for growth.
Mobile: The Future of Gaming
Mobile is the largest gaming platform, producing $68.5 billion in revenue in 2019—45% of the total market that also includes PC and tablet gaming.
Although still a relatively new segment of the industry, mobile gaming has developed at an astonishing rate, with 2.4 billion people playing games on mobile in 2019. Part of mobile’s breakneck growth can be attributed to an innovative and seamless user experience which relies on engaging features such as in-app purchases and loyalty rewards.
With the 5G era quickly descending upon us, these pocket-sized game consoles could transform online gaming, and make the industry even more exciting.
Towards a New Age of Entertainment
As the number of players continues to grow, it is clear that the technological possibilities of online gaming are endless. Some are already beginning to take shape:
With industry leaders such as Oculus and Valve announcing cheaper headset options, blurring the lines between fantasy and reality is becoming more accessible for mass markets, and the pace could pick up further in 2020.
Cloud gaming takes advantage of faster, more reliable internet connections by giving gamers the ability to stream games rather than playing on a console.
In the future, games could automatically generate game content that is customized to fit each player’s personality and playstyle, based on their player data.
As these technologies develop, they alter the way users experience games, and provide new opportunities for brands and advertisers to tap into enhanced viewer engagement.
Many industry players will thrive in this new environment, while others will fall by the wayside. Who will emerge victorious, and lead us into the future of entertainment?
The Top Downloaded Apps in 2022
Six of the top 10 most downloaded apps in Q1 2022 were social media apps, and four of them are owned by Meta.
The Top Downloaded Apps in 2022
Whether they’re providing a service like ride-sharing or acting as a mere source of entertainment, mobile apps have become an integral part of many peoples’ day-to-day lives.
But which apps are most popular among users?
This graphic uses data from a recent report by Sensor Tower to show the top 10 most downloaded apps around the world in Q1 2022 from the Google Play and Apple App Store.
Social Reigns Supreme
According to the report, total app downloads reached 36.9 billion in Q1 2022, a 1.4% increase compared to Q1 2021.
A majority of the top 10 most downloaded apps were social media platforms, with Meta and ByteDance owning six of the top 10.
|2||Photo and video|
|7||Snapchat||Photo and video|
|9||CapCut||Photo and video|
Meta’s four platforms on the list are Instagram, Facebook, WhatsApp, and Messenger, while ByteDance owns TikTok and video-editing platform CapCut.
Just outside the top 10 are Zoom and WhatsApp Business (yet another Meta-owned app).
TikTok’s Winding Road to the Top
In Q1 2021, TikTok exceeded 3.5 billion all-time downloads, becoming the fifth app (and the first non-Meta app) to reach this milestone. This is impressive considering the app has been banned in India as of June 2020. Prior to the ban, India accounted for 30% of TikTok’s downloads.
India’s not the only country that’s banned the use of TikTok. Pakistan has blocked TikTok multiple times because of concerns over “inappropriate” content. However, it’s worth noting that the bans in Pakistan only lasted a few days before being lifted, and currently, Pakistanis are able to access the platform.
Top 10 Highest Grossing Apps
TikTok isn’t just the most downloaded app in the world—it’s also the highest-grossing non-game app, based on Q1 2022 revenue from the App Store and Google Play:
|2||YouTube||Photo and video|
TikTok generated an impressive $821 million in consumer spending in the last quarter. The video-sharing platform was the top-grossing app on the App Store, and the second-highest-grossing on Google Play, coming just after Google One.
While none of Meta’s platforms made it onto the top 10 list for gross revenue, these platforms make a ton of money that doesn’t necessarily flow through app stores. In 2021, Meta generated more than $117.9 billion in revenue, with over 97% of that coming from ads.
Growth’s on the Horizon
The pandemic had a massive impact on the app market.
In 2020, app spending on things like premium access, in-app purchases, and subscriptions surged by 30% year-over-year to reach $111 billion.
And while COVID-19 restrictions are easing in most places around the world, app spending isn’t likely to taper off anytime soon. By 2025, spending is expected to grow to $270 billion.
Synthetic Biology: The $3.6 Trillion Science Changing Life as We Know It
The field of synthetic biology could solve problems in a wide range of industries, from medicine to agriculture—here’s how.
How Synthetic Biology Could Change Life as we Know it
Synthetic biology (synbio) is a field of science that redesigns organisms in an effort to enhance and support human life. According to one projection, this rapidly growing field of science is expected to reach $28.8 billion in global revenue by 2026.
Although it has the potential to transform many aspects of society, things could go horribly wrong if synbio is used for malicious or unethical reasons. This infographic explores the opportunities and potential risks that this budding field of science has to offer.
What is Synthetic Biology?
We’ve covered the basics of synbio in previous work, but as a refresher, here’s a quick explanation of what synbio is and how it works.
Synbio is an area of scientific research that involves editing and redesigning different biological components and systems in various organisms.
It’s like genetic engineering but done at a more granular level—while genetic engineering transfers ready-made genetic material between organisms, synbio can build new genetic material from scratch.
The Opportunities of Synbio
This field of science has a plethora of real-world applications that could transform our everyday lives. A study by McKinsey found over 400 potential uses for synbio, which were broken down into four main categories:
- Human health and performance
- Agriculture and food
- Consumer products and services
- Materials and energy production
If those potential uses become reality in the coming years, they could have a direct economic impact of up to $3.6 trillion per year by 2030-2040.
1. Human Health and Performance
The medical and health sector is predicted to be significantly influenced by synbio, with an economic impact of up to $1.3 trillion each year by 2030-2040.
Synbio has a wide range of medical applications. For instance, it can be used to manipulate biological pathways in yeast to produce an anti-malaria treatment.
It could also enhance gene therapy. Using synbio techniques, the British biotech company Touchlight Genetics is working on a way to build synthetic DNA without the use of bacteria, which would be a game-changer for the field of gene therapy.
2. Agriculture and Food
Synbio has the potential to make a big splash in the agricultural sector as well—up to $1.2 trillion per year by as early as 2030.
One example of this is synbio’s role in cellular agriculture, which is when meat is created from cells directly. The cost of creating lab-grown meat has decreased significantly in recent years, and because of this, various startups around the world are beginning to develop a variety of cell-based meat products.
3. Consumer Products and Services
Using synthetic biology, products could be tailored to suit an individual’s unique needs. This would be useful in fields such as genetic ancestry testing, gene therapy, and age-related skin procedures.
By 2030-2040, synthetic biology could have an economic impact on consumer products and services to the tune of up to $800 billion per year.
4. Materials and Energy Production
Synbio could also be used to boost efficiency in clean energy and biofuel production. For instance, microalgae are currently being “reprogrammed” to produce clean energy in an economically feasible way.
This, along with other material and energy improvements through synbio methods, could have a direct economic impact of up to $300 billion each year.
The Potential Risks of Synbio
While the potential economic and societal benefits of synthetic biology are vast, there are a number of risks to be aware of as well:
- Unintended biological consequences: Making tweaks to any biological system can have ripple effects across entire ecosystems or species. When any sort of lifeform is manipulated, things don’t always go according to plan.
- Moral issues: How far we’re comfortable going with synbio depends on our values. Certain synbio applications, such as embryo editing, are controversial. If these types of applications become mainstream, they could have massive societal implications, with the potential to increase polarization within communities.
- Unequal access: Innovation and progress in synbio is happening faster in wealthier countries than it is in developing ones. If this trend continues, access to these types of technology may not be equal worldwide. We’ve already witnessed this type of access gap during the rollout of COVID-19 vaccines, where a majority of vaccines have been administered in rich countries.
- Bioweaponry: Synbio could be used to recreate viruses, or manipulate bacteria to make it more dangerous, if used with ill intent.
According to a group of scientists at the University of Edinburgh, communication between the public, synthetic biologists, and political decision-makers is crucial so that these societal and environmental risks can be mitigated.
Balancing Risk and Reward
Despite the risks involved, innovation in synbio is happening at a rapid pace.
By 2030, most people will have likely eaten, worn, or been treated by a product created by synthetic biology, according to synthetic biologist Christopher A. Voigt.
Our choices today will dictate the future of synbio, and how we navigate through this space will have a massive impact on our future—for better, or for worse.
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