Performance of the Video Game Industry
Performance of the video game industry
The video game industry was born in 1970s. It develops, manufactures, distributes, publishes and sells electronic gaming software, devices and accessories. Before then, the notable players in this industry were the Atari from the U.S.A and the Namco from Japan. They brought video games in the form of arcade games; their popularity was in malls and video games arcade. However, with the introduction of home consoles, these games soon paved their way into households around the world. In the 1980s and early 1990s, due to the increase of personal computers, many new players came into the market. This saw the freedom of games from their limitations on playing on proprietary consoles. Video game makers achieved steady growth despite the fact that the market was impacted by the introduction of personalized computers.
In the early days, the market target group was confined narrowly to teenagers. Due to insightful targeting and positioning, Sony introduced the play station in the mid 1990s. This led to Video gaming becoming the new hype form of entertainment. This was well received by males who were either in their late 20s or early 30s and had a substantial disposable income. By the time Sony launched her Play Station 2 in the year 2000, the giant Microsoft technology realized that it could not ignore the runaway success of the Sony’s product and the impact that the booming Video game market might develop on its traditional software and PC domains. Hence, it launched the Xbox, which was launched in the year 2001.
With the decreasing cost of hard drive storage, broad availability of broadband internet and the increasing sophistication of high-definition video technologies, video game manufacturers saw the need of not concentrating their products in gaming alone. Many players envisioned their games consoles to encompassing home entertainment centers. Given the speed of broadband,