Since the late 1980s and early 1990s, when they initially gained popularity, video games have continued to play a key role in the entertainment industry. Nobody could have predicted that Tennis for Two, the first interactive video game designed for an analog computer and one of the first electronic games to use a graphical display, would give rise to an industry that would be worth approximately US$200 billion by 2022.
It is clear now that gaming has one of the largest fan bases in the entertainment industry. What was formerly thought of as a solitary and unsociable medium has now evolved into a dominant one, spawning new businesses and occupations.
The popularity of gaming is rising as a result. And because of the social restrictions we had to deal with during the last two years, people were forced to stay at home, which fueled global gaming trends. Therefore, the gaming sector, which was already thriving, flourished while other industries suffered.
The global gaming industry has annual revenues of more than US$150 billion, which considerably exceeds the combined global revenue of the music and film industries. There were an estimated 1.3 billion gamers globally in 2015, a statistic that has nearly tripled in the past two years.
The boom in the gaming business benefits game developers and device manufacturers who are hauling in billions of dollars in revenue, including industry titans like Microsoft, Sony, and Epic Games. This article will provide a quick overview of some of the game developers who have been transforming the online gaming business.
Tencent
With $13.9 billion in gaming revenue, Tencent, an internet company from China, is also a big player in the online gaming market. Tencent focuses mainly on multiplayer mobile games, including the company’s mobile flagship titles Honor of Kings and PlayerUnknown’sBattleGrounds: Mobile.
Ma Huateng, the organization’s current CEO, along with Zhang Zhidong, Chen Yidan, XuChenye, and ZengLiqing established the company in 1998. They have their corporate headquarters in Shenzhen, China.
Tencent owns several video game firms throughout the world, which has helped the company establish itself as a key participant in the gaming industry. One of them is Riot Games, the American game developer behind League of Legends, perhaps the world’s most played multiplayer battle arena, which is enjoyed by millions of players, including professional gamers, worldwide.
Evolution Gaming
Evolution Gaming, one of the biggest businesses in the iGaming sector, has been rapidly gaining ground as the top software provider in this field, in which their brands are linked to the sharpest solutions and the broadest selection of games.
With its Evolution and Ezugi brands offering a huge selection of games in real time, the Evolution Group is a world leader in live casino gaming. On the other hand, their NetEnt, Big Time Gaming, and Red Tiger brands produce some of the most creative slots in the industry. Evolution reported a 69 percent increase in revenue in 2021, driven by the rising demand for iGaming platforms and solutions.
From the comfort of their homes, gamblers may enjoy entertainment, interactivity, and thrills with Evolution’s game shows category. Players have the possibility to win large thanks to multipliers, which increase the thrill by adding extra levels.
Zynga
Founded in April 2007 and based in San Francisco, Zynga is an American game developer that provides social video gaming services. The firm describes its purpose as “connecting the globe via games” and primarily focuses on social networking and mobile platforms.
In June 2009, Zyngadebuted its best-known title, FarmVille, on Facebook, and within six weeks had ten million daily active users. Zynga claimed thirty million monthly active users as of August 2017, with around 57 million games being played at any given time.
In January 2022, Take-Two Interactive stated that it intended to acquire Zynga for $12.7 billion. The transaction was concluded in May 2022. With the acquisition, Take-Two gains access to Zynga’s experience in creating wildly successful free-to-play mobile games in addition to taking control of major Zynga properties like FarmVille.
Epic Games
Based in Cary, North Carolina, Epic Games is an American company that creates and publishes video games and other products. Tim Sweeney started the business in 1991 as Potomac Computer Systems, with its first office being at his parent’s home in Potomac, Maryland.
After ZZT, his first commercially successful video game, was released in 1991, the firm changed its name to Epic MegaGames in 1992, and Mark Rein was hired. Rein has served as the company’s vice president ever since. The name of the studio was shortened to Epic Games when they relocated their headquarters to Cary in 1999.
Video games like Fortnite, Gears of War, and Infinity Blade are powered by Epic Games’ in-house built Unreal Engine, which is also a commercially accessible game engine. Guinness World Records recognized Unreal Engine as the “most successful video game engine” in 2014.
