Gaming to eTrading: Dominant Internet Tech Trends
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As we navigate the ever-evolving landscape of digital transformation, certain trends have emerged that are shaping the 21st century internet-based economy.
These dominant innovations have redefined how we interact, communicate and even make financial transactions in the digital age. In this article, we’ll dive into five key internet technology trends that have left an indelible mark on the global economy and society at large.
The Rise of Digital Gaming
The gaming industry has undergone a remarkable transformation over the past two and a half decades alone, evolving from a niche hobby enjoyed by some to a monster mainstream entertainment industry. According to Newzoo, a leading provider of market intelligence for the gaming industry, the global games market was estimated to have generated over $180 billion in revenue in 2023, indicating just how prolific the industry is.
In terms of market breakdown, mobile gaming accounts for over half of all gaming revenue seven years after it first began outperforming PC and console gaming. The industry encompasses an array of digital experiences, with players able to choose from genres as diverse as massively multiplayer online role play gaming to remote poker. Thanks to operators like PokerStars, adult gamers can learn the rules of poker online and participate in real money tournaments. Meanwhile, plenty of elite pro gamers learned the ropes playing titles like League of Legends and Call of Duty online.
Key drivers of growth in the gaming industry include the increasing popularity of free-to-play games, a business model that supports in-game purchases and microtransactions, and the rise of gaming as a form of social interaction. With the sector set to continue its evolution with the arrival of Web3, it is poised to remain a dominant force in the internet technology landscape for years to come.
Social Media and the New Era of Connectivity
It’s no overstatement to say that the advent of social media has completely transformed how we communicate, connect, and share information online. Platforms like Facebook, Twitter, Instagram, and TikTok have become integral parts of our daily lives, shaping our interactions with the people around us.
According to Statista, as of 2021, there were over 4.48 billion social media users worldwide — a figure that represents over 50% of the global population. Collectively, we’ve seen the impact and relevance of social media extend beyond just personal communication, with businesses leveraging platforms and apps for marketing, customer engagement, and brand building.
Meanwhile, the rise of social media influencers and the proliferation of user-generated content now populating social media sites marks yet another shift in how we engage with and utilise these platforms. While the sector’s impact on mental health and privacy are coming ever more under scrutiny, nevertheless, it remains an important tech sector, not least for its increasingly central role in shaping online discourse and influencing consumer behaviours.
The eTrading Revolution
It wasn’t all that long ago that the terms trading and investing conjured up rowdy scenes of Wall Street elites. Here in the 21st century, the emergence of eTrading as an internet tech sector has fully revolutionised the financial markets, democratising access to trading and investment opportunities for much of the world’s population, even the globally unbanked. The arrival of online brokerages, trading platforms and algorithmic trading systems has facilitated the buying and selling of financial instruments, setting a new precedent for accessibility in the industry.
The economic impact of eTrading is profound and influences asset prices, market liquidity and investor behaviour. In 2020, electronic trading accounted for over 90% of all trading volume in equities markets (according to the World Federation of Exchanges). It’s also been an important catalyst in the development of the decentralised finance (DeFi) market, with even the most mainstream trading platforms like eToro enabling users to invest in a vast selection of cryptocurrencies and blockchain projects.
Despite its impact, this is a sector that is still very much in an emergent phase and, as such, regulators are being forced to adapt to the changing landscape. There are justifiable concerns surrounding things like high-frequency trading and the potential for systemic risk in electronic markets, but synergy with evolving regulatory oversight will help to shape a secure future for this important financial industry.
