The video games market could become a $300 billion industry by 2025, with the growth of mobile gaming and innovative offerings, like cloud gaming, according to a new report from GlobalData.
In 2018, the video games market generated $131 billion, with mobile gaming outpacing revenue made by pc and console gaming.
There are now more than 2.5 billion gamers across the world. Combined, they will spend $152.1 billion on games in 2019, representing an increase of +9.6% year on year.
To increase the odds of finding a growing company, investors should screen for Gaming stocks as the industry is crawling with companies operating in several rapidly-evolving fields.
Sony Corp. (SNE) recently announced the launch of its newest console, the PlayStation 5, which will compete with primary rival Microsoft Corp.’s (MSFT) next console, code-named Project Scarlett. Both consoles are set to arrive just in time for the 2020 holiday season, kicking off a new video game console cycle that occurs about every five to eight years. That means a new cycle for video games will be kicking off as well.
Versus Systems (CSE: VS) (OTCQB: VRSSF) has developed WINFINITE – a proprietary in-game prizing and promotions engine that allows game publishers and developers to offer in-game prizing across various platforms including mobile, console, PC games, and streaming media. Brands pay to place products in-game via WINFINITE, and gamers compete for those prizes.
The company recently formed Versus Systems UK Limited as a UK entity in advance of a planned December launch of their proprietary Winfinite rewards platform in the United Kingdom and according to a recent press release, the company will also grow user base inside the annual $71 billion Asia-Pacific gaming market.
Last August, the company announced that it has executed an agreement with HP, Inc. (NYSE:HPQ) to license Versus’ WINFINITE technology for use in HP products and services. The agreement provides for the non-exclusive use of Versus’ technology and prizing software by HP and for access to the WINFINTE platform.
Matthew Pierce, CEO of Versus Systems comments, “Reaching this agreement is an important step for our Company. HP is our largest corporate partner to date and shows we have the ability to work with major, multinational firms at the cutting edge of technology. HP has the potential to become a major partner of ours. We look forward to future implementations of WINFINTE technology and to reaching future user milestones.”