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What the Future Holds for the Multi-Billion-Dollar Online Gaming Industry Predictions for an industry that's hotter than ever.

By Thomas Gronnevik

Opinions expressed by Entrepreneur contributors are their own.

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Online gaming is a worldwide multi-billion-dollar industry that has been rapid in its growth rate, even before the events of this past year. When the global health crisis caused all live events (and social interaction as we know it) to come to a screeching halt, the virtual world of entertainment took off on a larger scale. We've seen over the last few years that gaming has picked up as it has become more accessible, the technology has evolved, and it continues to outperform its predecessors year after year.

Interest has skyrocketed, and the numbers prove it. According to Newzoo's 2020 Global Gaming Market Report, 2.7 billion gamers will spend a whopping $159.3 billion on games in 2020. It won't stop there: The games market is expected to continue to grow, exceeding an astounding $200 billion by the end of 2023. Gaming is here to stay for the long haul, and its growth trajectory will rival that of other fast-growing industries.

Related: How to Become a Successful Gaming Entrepreneur