Posted in Marketing & Strategy Articles, Total Reads: 2332
, Published on 29 May 2011
The gaming industry has come a long way in the past decade with the gaming consoles and the games becoming highly sophisticated. Over the last 10 years it has grown leaps and bounds and has become a industry whose size is estimated to be around $50 Bn. With constant innovations such as graduating from single player gaming to massive multi-player gaming, to moving to graphically superior games to adding motion gaming the industry has indeed come a long way. The gaming consoles have slowly becoming a part of every household as a complete entertainment package which in some cases are also doubling up as CD player as well.
To a entire generation which was used to gaming consoles like Nintendo, Samurai etc the current gaming consoles are light years ahead. The gaming consoles which we are talking about are Microsoft Xbox, Sony Playstation. These gaming consoles have taken the gaming experience to a next level and during their launch the people have queued up outside stores to get hands first on these newly launched consoles. So why exactly people young and old hooked to these devices.The companies are have actually marketed it well and projected it an entertainment device rather than just restricting it to younger generation. That has done the trick and how well it has done can be understood by the revenues derived from gaming consoles for these companies.
So what exactly is the current trend in these consoles. The in thing now is motion gaming. The technology which was bought out by Nintendo has been taken to another level by these 2 gaming majors through combining high end graphics with the motion gaming. Xbox has actually taken it a bit further by completely removing the joysticks needed for motion gaming. The body movements of the gamer are detected by the controller and is actually recreated on TV and that has bought in a new dimension to this industry.
Yet another facet of this industry is the games which run on these consoles. The games which they launch alongside the consoles are yet other money spinners for these companies. Some of the games have become blockbusters wherein the first day sales are much more than the opening day box collections of some Hollywood movies. Once addicted to games, the young and old alike would want to buy newer games just for the experience. This has actually resulted in the games industry to grow at a faster pace and has reached an estimated $18 Bn.
So together the consoles and games complement each other well and form a deadly combo. But in a industry such as this constant innovation is very necessary and people would be bored in case there aren't anything new coming their way. But yes sun would never set on this industry as people would always need some form of entertainment and these consoles provide them with a cost effective way of entertainment at home. This is just the beginning and with constant innovation we can just imagine what the future beholds for us in terms of experience.
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