SINGAPORE / ACCESSWIRE / April 28, 2020 / Fueled by fast-paced innovations in both hardware and software, gaming has become an industry worth, by some estimates, over $120 billion as of 2019. At the same time, gaming technology itself has been advancing rapidly, giving rise to new platforms and business models in an indication that the sector has a long runway ahead of it. Veteran business executive Bruno Michieli comments, "From the first video game consoles in the early 1970s to the massive esports networks of today, gaming has proved its staying power and become one of the fastest-growing industries. Much of its progress is attributable to technology, which will continue to boost revenues and attract investors keen to capitalize on this robust growth. While PC and traditional console games remain popular, it is the online and mobile segments that will dominate in the years ahead as they benefit from a quickly expanding player base and rising investor interest."
The advent of mobile devices has been arguably the most transformational development in the history of the gaming industry, placing this form of entertainment in the hands of billions of people, Bruno Michieli notes. This has led to dramatic growth in the number of casual players while also allowing game publishers to monetize their assets through innovative models, for example, freemium or ad-supported. The quality of mobile connections being crucial to the gaming experience, investments will be bolstered by the roll-out of 5G networks, which many analysts regard as a pivotal development for the market. Among the innovative technologies sustaining interest in the gaming sector are virtual reality (VR) and augmented reality (AR), which are expected to expand further the global player base. Commenting on the prospects of the market, Ed Thomas, principal technology analyst at GlobalData, said, "Today's video games industry is in the throes of a huge transformation from a product-oriented business to an as-a-service model. At the same time, new technologies like 5G, cloud, and virtual reality will usher in a new phase of innovation, while new business models like support for in-game micropayments are already changing the economics of gaming."
In the past few years, live streaming platforms have become the hottest commodity in the gaming industry, generating enormous interest among audiences and investors alike. According to a 2019 report from Deloitte and The Esports Observer, investments in this industry segment exceeded $4.5 billion in 2018, surging from $490 million in the preceding year. Additionally, The Current State of Sports Technology survey conducted by Scrum Ventures showed that fan engagement technologies, which include live streaming and esports, were considered the most impactful factor for the broader sports industry. Hype Capital managing partner Gayatri Sarkar told the publication, "Sports had been a very traditional industry powered by legacy tech, but now with the advent of streaming, sports content media distribution is decentralized via social media platforms. The sports market has the opportunity to be a multi-trillion-dollar ecosystem with technological advances such as 5G, digital collectible trading and the rise of esports, which will fuel new market and social behavior. As the infusion of deep tech continues in smart venue, gambling, performance biometrics, and many more sub-verticals where data is the engine, we'll naturally see more and more deep tech investors, like myself, entering the sports investment landscape."
Bruno Michieli has been perfecting his business executive skills through more than two decades, proving his talent to identify and realize profitable investment opportunities and implement operational improvement initiatives. He has built an impressive track record in the technology and private equity industries, demonstrating his ability to deliver excellent outcomes in areas such as digital strategy, business planning, e-commerce, and entrepreneurship. Since 2006, Bruno Michieli has served as the CEO of Openlot Ventures (Asia) Pte Ltd - a private equity outfit focused on the leisure and gaming technology sector in Singapore and Hong Kong.
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SOURCE: Bruno Michieli
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