Blurry graphics and minimal sound effects are a distant memory, as video games have become more realistic than ever. Video games are becoming smarter as technology advances. Previously, users could only play on certain devices, but next-generation gaming devices now allow for cross-playability.
The gaming industry is undergoing rapid transition, and it will continue to do so over the next four to five years. According to a survey by industry research firm SuperData, gaming revenue increased by 12% in 2020, to $139.9 billion from $120.1 billion in 2019. And, at one point last year, four-fifths Americans had played a video game in the previous six months.
The video game industry is massive. In fact, it is bigger than the film and music industries together, and it is just becoming bigger. There are almost two billion players worldwide. That equates to 26% of the worldwide population.
Powerful trends of the gaming industry in the future
It’s unsurprising that corporations want or need a piece of the action. The gaming business is expected to earn $155 billion in revenue by 2020. Experts expect that the company’s revenue would exceed $260 billion by 2025.
Subscription streaming sites are the way of the future, and they will benefit video game companies. Nontraditional gaming businesses such as Meta, Apple, and Google are entering the market. The IT industry is working to make video game broadcasting as natural as listening to music on Spotify or watching movies on Netflix.
In reality, there are several more crucial trends that everyone working in the gaming industry should be aware of. This is a list of five significant gaming industry trends that could emerge in 2021 and beyond.
1. Cloud gaming
Cloud gaming benefits from quicker, more dependable internet connections. They are allowing gamers to stream games rather than play on a device. Cloud gaming avoids all of these inconvenient concerns. Rather than purchasing and downloading a game, you stream it in real-time.
The future of gaming could take place on the computer of someone else. In other words, in the cloud. The most significant barrier that cloud gaming should overcome to become genuinely mainstream is the ability to provide players with a smooth, non-laggy gaming experience. That kind of experience is difficult to come by for someone who does not have a strong Wi-Fi connection.
Cloud gaming is popular amongst more than just consumers. Streaming services such as PlayStation Now provide Sony with a substantial recurring revenue stream. It also allows publishers to monetize outdated games (including ones from prior console generations) years after they have been released.
Cloud gaming benefits more than just gamers. In fact, the developers are benefiting from this great benefit because they may earn money from the previous games.
2. More remakes and reboots
As gamers, we adore our games. We build deep relationships and true bonds with select titles. Perhaps that game helped you get through a particularly difficult breakup.
Video games are significant to us, and it is apparent that we all become loyal to specific titles. However, we have struck a roadblock as a result of our often narrow-minded nostalgia and a new trend in the sector. The idea of reselling us the same game over and over has become commonplace.
The game industry is gradually catching up with the recent influx of reboots and remakes. There’s a catch here: they miss out on the chance to release a new game. The game business, like Hollywood, is learning that remakes and reboots sell well. And, unlike a brand-new franchise, they are less likely to fail.
3. Rise of next-gen consoles
The previous generation of gamers enjoyed their gaming experience by playing on arcade machines and even ancient consoles such as the Game Boy and NES. What players now want to embrace is the trend focusing on the PS5, Xbox Series X, and other power systems.
As with previous console wars, the console with the best games will most likely win. However, each console has a few distinguishing traits that could help it stand out. The PS5, for example, contains a high-end SSD. This hardware upgrade over the PS4 improves load times dramatically.
As technology advances, the gaming market expands. According to Newzoo, console gaming would expand 7 percent year on year to $45.2 billion, with 730 million gamers. Because of the lockdown measures, engagement and income are set to rise.
Fans are likely to see better visuals and other features, which will help Microsoft and Sony generate income. Furthermore, the streamers would be generating more and thus earning more money through sponsorships. Making a name for yourself as a professional eSports gamer allows you to have access to more exclusive sponsorships.
4. Rising of PC gaming industry platforms
Due to the COVID-19 vaccines and the reopening of schools and offices, there are already indications of a PC market slowdown. However, don’t anticipate things to alter in terms of PC gaming demand. IDC estimates that shipments of gaming desktops, laptops, and monitors will continue to grow while the pandemic fades.
According to Newzoo, the PC gaming business is worth around $35 billion. To put this in context, $35 billion is similar to the whole gaming console market.
Labor scarcity and rising shipping costs also agree to throw additional costs on PC makers, perhaps leading to price rises. Consumers are already witnessing this with some PC graphics cards, which began increasing in price earlier this year.
5. Artificial intelligence
Yet, AI isn’t only an element of the gameplay experience. It’s all a part of the game-creation process. While AI generates game materials and, in some cases, entire levels, human designers’ jobs aren’t under peril – at least not yet.
Artificial intelligence (AI) in games isn’t a new concept. Gaming is a critical component in the advancement of AI. For decades, researchers have used this technology in novel and exciting ways. Academics and game designers alike are still attempting to create AI systems that will control the game in a way that is enjoyable for the user.
To conclude, the main motive of this post is to describe the strong and huge trends of the gaming industry. The video gaming industry is greater than the film and music industries together. Technical advancements, growing consumer demographics, and a surge in video game-related items have all contributed to the video game industry’s increased scope. Firstly, the main goal of these top gaming companies and arenas is to create gaming logo and merchandise as well to generate more revenue.
The changing demographics of gamers are possibly the most intriguing trend in the video gaming industry. With more individuals playing games and seeking easier access to games, the video game industry’s future appears bright.
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