Skill Gaming Market Trends

Growth Drivers

• A surge in E-sports - Owing to competitive gaming atmosphere, and establishment of levels and leagues have not only increased the number of users but also have led to an increasing number of sponsors and advertisers. The ability to turn gaming into a spectator sport, with the help of live-streaming events attracting millions of viewers around the world, is at the heart of E-Sports' appeal.
  
  By showing the skill and strategy involved in different games, professional players, often celebrities in their own right, contribute to the growth of the skill gaming market, which in turn inspires a new generation of competitive players.

• Rising popularity of casual skill games - The escalating popularity of casual skill-based games has notably given rise to the market growth of skill gaming. Intuitive gaming mechanism is used in casual games to make them accessible and available to all ages of people.  The proliferation of these games has also been facilitated by the emergence of mobile platforms, which enable rapid, engaging, and skilled testing experiences.
  
  In 2021, casual gaming sales reached USD 21.6 billion, highlighting the financial importance and growth potential of this segment in a market.

• Technological advancements - The growth of this market can also be driven by the increasing technological development resulting in the development of the latest graphics, Virtual Reality, and Augmented Reality in gaming. Enhanced technologies enrich the overall gaming experience, providing players with more immersive and realistic environments.
  
  The integration of VR and AR technologies into skill-based games not only attracts new players but also enhances retention rates by creating novel and engaging experiences. The skill gaming market remains dynamic and in line with the latest technology trends, due to the continued development of hardware and software capabilities.

Challenges

• Technical barriers and device fragmentation - In order to ensure a seamless gaming experience across platforms, there can be difficulties for developers due to the diversity of devices and technical specifications available on the market. In order to avoid a fragmented user experience, careful optimization is needed for device fragmentation, different screen sizes, and hardware capabilities. Cyber security threats, such as hacking, cheating, and unauthorized access, are inherent in the online nature of skill gaming platforms. These technical barriers may hinder the market’s expansion.  

• Monetization and prices are estimated to hamper the market expansion in the forecast time period.

• Perception and social stigma is another substantial factor hindering the skill gaming market revenue in the upcoming future.