The last few years has seen the growth of poker and most other forms of gaming all around the world.
One cannot turn their head without seeing or hearing something that involves the ever-booming gaming industry. Whether it’s the regulation of the online gaming industry in the US and the launch of online gaming services following it, or the passing of pro-gaming legislation elsewhere.
It can also be seen in the announcement of plans to build casinos and other major gaming establishments in places like Russia and Australia, not to mention news of sponsorship deals between gaming companies and major organisations and sporting clubs.
Not all of the news in the gaming industry has been perfect, but the general consensus is that it is an area that continues to grow with no end in sight, at least in the foreseeable future.
That is a view that is also held by the prominent market report provider Companies & Markets. The provider recently released a report predicting that the global gaming industry will be worth £110 billion (around US $174.1 billion) by 2018.
You read that right.
The predicted figure is certainly huge, and would be a 28 percent increase from current global gaming values. That equates to a little more than five and a half percent, or £5 billion (around US $7.9 billion) of annual growth between now and 2018.
A number of trends point to strong future gaming growth around the world, most of which were also highlighted in the report. One such factor is the regulation of online gaming markets in the US states of New Jersey and Delaware, as well as the online poker market in Nevada.
It is expected that the new markets in the first two states – which are set to be launched before the end of this year – will gain some traction, which would help contribute to an increase in total gaming growth. The impending launches in New Jersey and Delaware could lead to other states establishing their own online gaming markets in the future, which may also contribute to total growth.
Another major reason behind the major growth forecast is the continually fast growing economies of Asia and the growth in gaming throughout the continent as a result. Macau’s gaming industry continues to expand and has become a multi-billion dollar market in itself. Already a huge contributor to the global gaming sector, Macau’s gaming market is set to continue its growth, which will undoubtedly lead to total gaming industry boosts.
Macau will likely not be the only Asian place that will contribute to the project increase in the global gaming industry. Russia could also be a factor once plans to establish casinos in Vladivostok and elsewhere are carried out.
There are also hopes that Japan’s government may regulate casinos in the next few months, which could do wonders for the growth of gaming in Asia and beyond. This would especially be the case as the booming Asian economies bring increased wealth (read: disposable income) to more of its people.
The forecast of 28 percent growth in five years by Companies & Markets is certainly an optimistic one. However, with all the signs pointing to further poker, casino and general gaming growth, its projection is likely to be on the money.
We shall see in five years.