The digital games industry is set to witness a hike in revenues, with software revenues reaching just over $80 billion (£52.7 billion) this year, rising to £104 billion (£68.5 billion) by the end of 2018.
According to new data from analyst Juniper Research, the majority of this growth will stem from contributions made by the PC market, accounting for 42 per cent of games revenues this year.
Mobile platforms will also account for this increase, with a market share approaching 35 per cent by 2020.
In addition, driven by consumer uptake and software purchases from the latest generation of games consoles, software revenue generated by this segment will reach $27 billion (£17.7 billion) by 2018, up from an estimated $21 billion (£13.8 billion) this year.
Plus, despite the lack of interest in the console industry, Juniper Research believes that it will continue to evolve and will take advantage of new tech opportunities, such as virtual reality (VR).
Lauren Foye, research author, said: “As digital purchases gain favour with consumers, we will see a drive in sales during the lifecycle of the current generation of consoles.
“Newly emerging technologies such as virtual reality will aid in consumer adoption, as the console continues to evolve to become the core home entertainment centre.”
The mobile games industry has also seen an uplift over the past few years, due to the popularity of ‘fremium games’, where users make in-app purchases in games such as Candy Crush.
This trend is expected to continue, with mobile and tablet revenues approaching almost 35 per cent of total game revenues by 2020.
Virtual reality is a trend that seems to be continuing in the tech industry, for example chip maker AMD has just revealed that it will partner with Oculus and Dell to equip Oculus ready PCs with AMD Radeon GPUs.
Roy Taylor, corporate VP for alliances and content at AMD, added: “It’s an exciting time to be at the heart of all things virtual reality.
“I’m confident that with Dell and Alienware, we can enable a wide audience of PC users with extraordinary VR capabilities powered by AMD Radeon GPUs.”
AMD’s LiquidVR technology also scooped the prestigious Lumiere Award by the Advanced Imaging Society for innovation in entertainment technology.
The tech enables low-latency VR performance, plus it also boasts plug-and-play compatibility with VR headsets.
Meanwhile, the Organisers of Open Source Virtual Reality (OSVR) have announced further developments in VR, with a new software plug-in that supports eye tracking technology by SensoMotoris Instrument (SMI).
Yuval Boger, CEO of Sensics and founding contributor to OSVR, commented: “Eye tracking has huge potential to enhance natural interaction with VR content.
"SMI products provide excellent out-of-the-box experience and we are glad to collaborate with them in building the OSVR SMI plug-in, providing a standards-based eye tracking interface to game developers."
With developments such as eye tracking and more powerful GPUs for VR headsets, we could start to see VR devices grow even more, which could lead to a further increase in sales within the gaming industry.
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