8 months into 2020 and we have witnessed almost all industries battling a huge hit in their revenue streams due to the COVID 19 pandemic. As uncertainty looms and the signs of another global recession loom, very few industries have remained unscathed and fewer still have found consistent growth in their revenue and attention from consumers. The online gaming industry is one major example.
Research reports quote numbers aplenty. For instance, one says that the global gaming market is expected to hit $159 billion in 2020. This is far bigger, in fact, 4 times more than the box office figures forecast for 2020. While physical venues for gambling games like Las Vegas, Macau, etc. might take months or years to reach pre-COVID levels of customer patronage, virtual gambling platforms are witnessing a huge surge in demand.
As it happens, building a new online game ecosystem is not a complex endeavour anymore. Today there are turnkey gaming platforms that you can easily customize to deliver a superior customer experience with your own gaming rules and algorithms. Be it multiplayer environments, VR and AR embedded capabilities, an array of payment options, deep security, and a personalized loyalty program, there are limitless possibilities you can explore with online games courtesy of turnkey gaming platforms.
If you still have doubts, here is a roundup of 4 factors that make turnkey gaming platforms valuable today:
Unlike physical gambling and gaming avenues, online gaming platforms are becoming more preferred by today’s generation considering the privacy and convenience they offer, the wide plethora of choices available for games in one place, and lesser charges than those they would incur on five-star resorts and avenues that offer similar experiences. Gambling and large gaming centres were often blamed to be excessively expensive and out of reach for the masses largely because of the environment in which they are usually set up like in resorts, casinos, and indoor malls. Online gaming on the other hand brings a “close to offline” experience to the masses by shifting the playfield to smartphones and PCs. With lower fees and expenditure, there is a significant boom in enthusiastic gamers and ordinary folks trying their hands-on casino games, multiplayer sports games, and much more from the comfort of their smartphones. With turnkey gaming platforms and managed service options, gaming companies can set up this experience in a matter of days rather than having to invest heavily and build physical avenues.
Today’s online gaming sector is so different from what existed a decade ago. People do not subscribe to online games as frequently as before, but they spend a lot more time on the ones they have already. This opens up new recurring revenue streams and is one of the major reasons why most of today’s major online games offer personalized subscription plans for availing the games. Turnkey gaming platforms are available to be easily customized and deployed on cloud environments to help you offer a seamless subscription experience for gamers thereby guaranteeing recurring revenue all through the year. The gaming companies can focus on offering games and experiences that grow customer loyalty that makes the gamers keep coming back for more.
Virtual games of all kinds consume bandwidth, unlike any other internet application. Several multiplayer gaming environments of today require high-resolution images, video streams, and graphical processing capabilities to ensure a smooth experience. If gaming companies were to build their own platforms, there will be a huge requirement for resources and computing infrastructure to enable gamers to seamlessly play on their machines. They would need to provision for technology skills, not something they should have to worry about at the best of times1 Additionally, scalability of the infrastructure becomes questionable as more servers may have to be added in shorter time spans to accommodate spikes in traffic and they may not find relevance all through the year. With modern-day cloud-based turnkey gaming platforms available through managed service options, gaming businesses can have peace of mind for their daily operations. Such platforms offer managed services as part of the subscription which takes care of all the infrastructure needs, scalability, and end to end customizations needed to cater to the day to day operations as well as accommodate spikes in demand.
Gaming companies have to do considerable R&D on creating new rules, logic, and concepts to be incorporated in their flagship gaming offerings. Having to spend money and time again on building and growing the right technology to enable such innovations to reach the audience will draw away from their core focus and be detrimental to their growth. This is where turnkey solutions can make a difference. They have dedicated innovation research and development practices that focus on building new smart game architecture, flexible algorithms, interactive visualization, graphical processing units, and much more. When your gaming company utilizes such a turnkey platform, you are likely to automatically benefit from all innovations they roll out in their tech without you having to spend anything on the technology R&D efforts.
As online gaming is fast becoming more popular than all other entertainment avenues available today, the potential for gaming companies to grow is immense. The key challenge for them is to bring on-board the right technology at the right time to enable a superior, scalable, and seamless gaming experience for their users. This is where turnkey gaming platforms can make a huge impact. Such a platform will help gaming companies focus more on building concepts and stories for their games while the platform focuses on providing the underlying technology powering them.